10795 Timbercrest Drive

• 102 Unit Multi-Family Investment Property
• Own Timbercrest Apartments & Townhomes  
• Situated On 3 Parcels Totaling 25± Acres
• Upside Potential With Expansion – Original Ownership Plans To Build Additional 144 Units
• 48 One Bedroom/1 Bath & 48 Two Bedroom/1.5 Bath Apartments
• Four 2 Bedroom/1.5 Bath & Two 3 Bedroom/1.5 Bath Townhouses
• Layouts For Each Unit Type Available
• 86.1% Occupancy Rate
• $819,242 Pro Forma NOI
• Offered At 10.2% Pro Forma Cap Rate
• Confidentiality Agreement Required For Detailed Information

Property Description

Timbercrest Apartments & Townhomes, 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.