Address
3806 W RIDGE Road, Millcreek, PA
Price
$ 675,000
Property Attributes
  • MLS#155349
  • TypeMulti-Family
  • CountyERIE
  • CityMillcreek
  • AreaMillcreek N of W26
  • Zip16506
  • StyleOne Story
  • Year Built1963
  • Taxes$ 7622
  • Price$ 675,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage7549
  • Lot Size0.539 Acres
Data Source:
Greater Erie MLS (GEMLS)
Property Description

Discover a lucrative investment opportunity at 3806 W Ridge Rd, Erie, PA – an exquisite triple-net property boasting long-term tenants and an outstanding cap rate! This strategically positioned asset features both a national and a thriving local tenant, ensuring a diverse and robust income stream. The success stories of both businesses are woven into the fabric of this property, and with long-term leases securely in place, the future looks exceptionally promising. This is not just a property; it's a strategic addition to your investment portfolio. Seize the chance to effortlessly grow your wealth. There's nothing for you to do here except watch the rents roll in. Please note that no businesses are included in the sale. Don't miss out on this gem of an investment; act now and secure your financial future!

Price History
2/12/2021 Listed $800,000
6/30/2021 4% - $775,000
11/3/2022 4% - $750,000
4/11/2023 1% - $745,000
11/17/2023 10% - $675,000

General Features

Sewer PublicSewer
Heating Gas,MultiFuel
Cooling None
Possession CloseOfEscrow,SubjectToTenantRights
Roof Asphalt
Garage Spaces 0.0
Architectural Style OneStory
Construction Materials Block
Year Built 1963
Security Deposit 50000.0
Stories 1
Township Millcreek Township
Levels One
Property SubType MultiFamily
Tax Year 2023
Gross Income 56520.0
County Erie
Net Operating Income 55432.0
Insurance Expense 1088.0
New Construction No
Property Type ResidentialIncome
HOA / Comm Assn No
Attached Garage No
Garage Y/N No
Status Active
Directions From I-79,West Ridge Rd west to Powell Ave. Property is on North West Corner
ModificationTimestamp 2024-04-30T18:12:07.150-00:00
City Millcreek
View Y/N No
Senior Community Y/N No
High School District Millcreek
Zoning Description MU
NumberOfUnitsTotal 2
MLS Area 5 - Millcreek N of W26
Lot Size Units Acres
Waterfront Y/N No
Carport Y/N No
Property Attached Y/N No
Year Built Details Actual
Land Lease Y/N No
Tax Annual Amount 7622.0
Home Warranty Y/N No
Property Condition Resale
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 1175
Standard Status Active
Middle/Junior School District Millcreek
Elementary School District Millcreek
Tax Assessed Value 294700
MobileHomeRemainsYN No
PostalCity Millcreek

Interior Features

Basement (Y/N) No
Air Conditioning Y/N No
Heating Y/N Yes
Fireplace Y/N No
Electric On Property Y/N No
LivingAreaSource Assessor

Exterior Features

Parking Features SeeRemarks
Lot Features CornerLot
Water Source Public
Total Parking 15.0
Lot Size Area 0.539
Spa No
Building Area Total 7549.0
Lot Dimensions 153x211x136x150
Lot Size Acres 0.539
Road Surface Type Paved
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 16506

Price
AVG $680K
$680K
Taxes
AVG $7,622
$7,622
Visits
AVG 295
298
Data Provided by Inside Real Estate®
Year Built
AVG 1963
1963
Walkscore
AVG 33
33
Data Provided by Walkscore® not using MLS data