For Sale
$9,700,000

8946 Main StMcKean, PA 16426

72-Unit Apartment Building, Erie County

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 72-unit apartment building, known as Middleboro Commons, presents a compelling investment opportunity. Located in McKean, Pennsylvania, within Erie County, this property boasts 15,000 square feet situated on a 2.5-acre lot. The building comprises 34 units, each featuring two bedrooms and 1.5 bathrooms, with an average size of 1,150 square feet. Constructed in 2014, Middleboro Commons is exceptionally well-maintained and currently operating at full capacity, eliminating the need for immediate capital expenditures. The property's prime location in the Erie suburbs ensures strong rental demand and consistent cash flow. This is a turnkey investment ready to generate immediate returns. The asking price for this exceptional multifamily asset is $5,400,000. Additional properties are available for purchase individually or as a portfolio. The portfolio includes two other properties, totaling 72 units, offering a significant scale of investment. This presents a rare opportunity to acquire a substantial, high-performing multifamily portfolio in a desirable location. Detailed financial information and property specifics are available upon request.

Highlights

  • Leboeuf Gables: 22 units, 1 bed/1 bath, 800 sq ft, built in 2012, asking price $2,000,000.
  • Middleboro Commons: 34 units, 2 bed/1.5 bath, 1,150 sq ft, built in 2014, asking price $5,400,000.
  • Westgate Commons: 16 units, 2 bed/1 bath, 1,150 sq ft, built in 2016, asking price $2,300,000.

Property Details for 8946 Main St

Property type
Apartment buildings
Square Feet
15,000 SF
Lot Size (sq. ft)
108,900 SF
Units
72

Location Insight

City
McKean
County
Erie
State
Pennsylvania
Latitude
41.9980596
Longitude
-80.1443134
8946 Main St, McKean, Pennsylvania

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8946 Main St
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