Timbercrest Apartments | 10795 Timbercrest Dr
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Timbercrest Apartments 10795 Timbercrest Dr
102 Unit Block of Flats £6,259,600 (£61,369/Unit) Meadville, PA 16335
Investment Highlights
- 102 Unit Multi-Family Investment Property On 25± Acres
- Upside Potential With Expansion – Original Ownership Plans To Build Additional 144 Units
- 86.1% Occupancy Rate
- Own Timbercrest Apartments & Townhomes
- 6 Residential Buildings Totaling 82,278± SF
- $819,242 Pro Forma NOI - Offered At 10.2% Pro Forma Cap Rate
Executive Summary
Timbercrest Apartments & Townhouses, a pet-friendly 102 unit multi-family investment property situated on 25 wooded acres with expansion opportunities is now available for sale. Ideally situated near I-79 & Meadville’s major retail/service corridor with over 25 major retailers within 2 miles. The community includes 48 one bedroom, 1 bathroom & 48 two bedroom, 1.5 bathroom apartments plus 4 two bedroom, 1.5 bath townhouses and 2 three bedroom, 1.5 bathroom townhouses. All units have central air and are equipped with a range, refrigerator, dishwasher and garbage with shared laundry facilities in each building. Tenants pay all utilities. 86.1% Occupancy rate. Upside potential with ample acreage and original ownership plans to build an additional 144 units. Offered at $8,000,000 ($78,413/Unit) with a $819,242 pro forma NOI – 10.2% cap rate. Confidentiality agreement required for detailed information.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 48 | £665.08 | 680 |
| 2+1.5 | 52 | £831.35 | 895 - 1,071 |
| 3+1.5 | 2 | £1,115 | 1,197 |
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £938,353 | |
| Land Assessment | £40,647 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £897,706 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£40,647
Improvements Assessment
£897,706
Total Assessment
£938,353
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | R-S (Suburban Residential District (RS)) |
| R-S (Suburban Residential District (RS)) |
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Timbercrest Apartments | 10795 Timbercrest Dr
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