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MLS 182279 307 Walnut St 5 Unit Apartment Building $224,900 ($44,980/Unit) Meadville, PA 16335
EXECUTIVE SUMMARY
Great Investment Location - Two Story building occupied by a long term established law firm on the main floor and 4 apartments on the second floor. Located next to the Meadville Public Library, close to the Crawford County Courthouse, Diamond park, and borders Mill Run. Rental units include a studio apartment, 1-bedroom apartment, a 2 bedroom apartment, and a 3-bedroom apartment that was completely gutted and rebuilt. New metal roof installed in 2025
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$48,000
|
$9.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$48,000
|
$9.43
|
| Taxes |
$6,644
|
$1.30
|
| Operating Expenses |
$11,474
|
$2.25
|
| Total Expenses |
$18,118
|
$3.56
|
| Net Operating Income |
$29,882
|
$5.87
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $9.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $9.43 |
| Taxes | |
|---|---|
| Annual | $6,644 |
| Annual Per SF | $1.30 |
| Operating Expenses | |
|---|---|
| Annual | $11,474 |
| Annual Per SF | $2.25 |
| Total Expenses | |
|---|---|
| Annual | $18,118 |
| Annual Per SF | $3.56 |
| Net Operating Income | |
|---|---|
| Annual | $29,882 |
| Annual Per SF | $5.87 |
PROPERTY FACTS Under Contract
| Price | $224,900 | Building Class | C |
| Price Per Unit | $44,980 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 5,092 SF |
| No. Units | 5 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1950 |
| Apartment Style | Low-Rise | ||
| Zoning | B-1 - Business | ||
| Price | $224,900 |
| Price Per Unit | $44,980 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,092 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1950 |
| Zoning | B-1 - Business |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 2,546 |
| 1+1 | 3 | - | 100 - 500 |
| 2+1 | 1 | - | 900 |
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 33-0-018799 | Total Assessment | $39,150 |
| Land Assessment | $2,700 | Annual Taxes | $6,644 ($1.30/SF) |
| Improvements Assessment | $36,450 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
33-0-018799
Land Assessment
$2,700
Improvements Assessment
$36,450
Total Assessment
$39,150
Annual Taxes
$6,644 ($1.30/SF)
Tax Year
2025
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MLS 182279 | 307 Walnut St
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