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Palace Building Apartments 913 State St

30 Unit Apartment Building $790,000 ($26,333/Unit) Erie, PA 16501

Apartment Buildings Pennsylvania Erie 913 State St, Erie, PA 16501

Investment Highlights

  • Heart of Erie CBD

Executive Summary

30 residential apartments located in the Palace Building in downtown Erie being offered as a condominium package. Apartments are "PHFA Affordable" units with income restrictions applicable. Rent Control ends 2024. Priced @$25K/unit + $40K for 3rd. floor. Commercial units on 1st., Mezzanine, and lower level not included (they have a separate Tax ID see ML#160300). Confidentially Agreement required for financials (attached). Pre-qualified buyers only. Owner is PA licensed Broker.

Data Room Click Here to Access

  • Financials
  • Floor Plans

Property Facts Under Contract

Price $790,000 Building Class C
Price Per Unit $26,333 Lot Size 0.33 AC
Sale Type Investment Building Size 57,204 SF
No. Units 30 No. Stories 12
Property Type Multifamily Year Built 1920
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Mid Rise
Price $790,000
Price Per Unit $26,333
Sale Type Investment
No. Units 30
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 0.33 AC
Building Size 57,204 SF
No. Stories 12
Year Built 1920
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Heating
  • Kitchen
  • Refrigerator
  • Range

Site Amenities

  • Laundry Facilities
  • Elevator

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 30 - -

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measures access to public transit. Bike Score®
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zoning

Zoning Code 19C3
19C3
(814) 833-2741

Contact

  • Listing ID: 24388773

  • Date on Market: 10/29/2021

  • Last Updated:

  • Address: 913 State St, Erie, PA 16501

The Downtown Erie Multifamily Property at 913 State St, Erie, PA 16501 is currently available. Contact Altair Real Estate Services for more information.

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Palace Building Apartments | 913 State St
(814) 833-2741 x

Palace Building Apartments | 913 State St

Chuck Peters

(814) 833-2741

(814) 833-2741

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