3626 Zimmerman Rd, Erie, PA 16510
Southview
Erie, PA
Building
Offering Summary
- Units: 24
- Storage Units: 78
- Year Built: 1991
- Average Unit Size: +/- 731
- In-Place Average Rent: $684
- In-Place Average Storage Rent: $84.43
- Current Occupancy: 91.7%
Investment Highlights
• Diverse stream of revenues - 73% apartments, 27% self-storage
• Desirable mix of one-bedrooms (8), two-bedrooms (10), and three-bedrooms (6)
• Significant opportunity to grow annual revenue by $38,500+ through increasing current rents to market levels (potential apartment revenue of $27,000+ and potential storage revenue of $11,500+)
• Additional revenue upside through continued implementation of water sewer reimbursement - currently 2/3 of tenants pay $45-$70
• Less than 10 minutes from all major employers and universities in the MSA
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