4175 W Ridge Rd Erie, PA 16506
Property details
About 4175 W Ridge Rd
Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based on a market analysis, significant rent growth potential exists—townhouses can easily rent for $1100-$1200, & apartments for $800. With each unit individually metered for gas, electric, and water (tenants pay utilities), the owner only covers sewer & garbage. This property offers incredible cash flow potential & can achieve a 9.62%+ CAP rate based on projected APOD. Prime location close to all amenities makes this a perfect investment! Located by LECOM adds extra premium rent possibilities!
Highlights
Virtual tour
Summary
- MLS Number: 181424
- MLS Name: EriePA
- Office Name: Agresti Real Estate
- Office Phone: (814) 449-7973
Copyright © 2025 Greater Erie Board of REALTORS®, Inc. Information deemed reliable but not guaranteed. IDX information is provided exclusively for consumers personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/9/2025, 9:15:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$4,200,000
4175 W Ridge Rd
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0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jul 30, 2018 | Home Sold | $2,300,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $2,000,000 | $51,728 |
| 2023 | $2,000,000 | $49,730 |
| 2022 | $2,000,000 | $19,027 |
| 2021 | $2,000,000 | $48,028 |
| 2020 | $2,000,000 | $47,528 |
| 2019 | $2,000,000 | $46,738 |
| 2018 | $1,336,700 | $30,466 |
| 2017 | $1,336,700 | $30,399 |
History based on county public records data.
Nearby schools
6
Grandview Elementary School
Public District KG-5
1.8 mi
•4301 Lancaster Rd
7
Asbury Elementary School
Public District KG-5
2.2 mi
•5875 Sterrettania Rd
4
Montessori Regional Charter School
Public Charter KG-6
2.5 mi
•2549 W 8th St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $56,351. Residents of Erie, PA typically earn between $35k-100k each year. Most families are single, no kids. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Hiking/backpacking
Horse Races
PGA/LPGA
Where do the neighbors shop?
Nordstrom Rack
Stein Mart
New York & Company
Where do the neighbors go to eat?
Chipotle
LongHorn Steakhouse
Bonefish Grill
What do the neighbors drive?
Mazda
Buick
Lincoln
What do the neighbors listen to?
Rock
Contemporary Inspirational
Classical
Frequently asked questions
Living in Erie, PA
About 4175 W Ridge Rd
This home is located at 4175 W Ridge Rd in Erie, PA and zip code 16506. This 36,696 square foot home, which was built in 1985, sits on a 2.48 acre lot. Features: 78 bedrooms, 72 bathrooms. It has been listed on Rocket Homes since February 8, 2025 and is currently priced at $4,200,000.
Over 15 listings were sold over their listed price in January 2025 in Erie, PA. In the same period over 36 listings were sold below the listed price and 11 listings were sold for the listed price. In January 2025 in Erie, PA there were 11.7% less homes for sale than in December. While the average time on the market in January 2025 was 27 days, the median list price was $170,096.