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2930 Cherry St
Erie, PA 16508
6-Unit, Mixed-Use Investment Property · Multifamily Property For Sale
·
6 Units
Investment Highlights
- 6-Unit, 3 Property Mixed-Use Investment Package Totaling 6,560± SF
- 1 Commercial Unit & 5 Residential Units - 83% Occupancy With Excellent Rental History
- Upside Potential With Below Market Rental Rates
- Comprised Of 3 Contiguous Parcels Totaling 0.19± Acres With Parking For ±14
- $54,615 Annual Income & $42,040 Net Operating Income (2025 Actual)
- $70,053 Pro Forma Annual Income - $57,959 Pro Forma NOI - 9% Pro Forma Cap Rate
Executive Summary
6-Unit, mixed-use investment package for sale. Comprised of 3 contiguous parcels totaling 0.19± acres with 1 commercial unit & 5 residential rentals. 83% occupancy with excellent income history. $54,615 annual income & $42,040 net operating income (actual - 2025). Upside potential with below market rents. Unit mix includes 911± SF office/storefront, one 1 bedroom/1 bathroom apartment, one 2 bedroom/1 bathroom apartment, one 3 bedroom/1 bathroom single family home & two 3 bedroom/1 bathroom apartments. Off-street parking for ±14 with paved parking lot for ±9 and two private driveways plus on-street parking. All units are separately metered for gas &/or electric (one unit all electric). Centrally located just 0.4 miles (3 blocks) from Erie High School, the City’s only high school, and near Peach Street’s retail/service corridor and multiple public bus routes. Zoned Traditional Single Family Development (R-1A) in the City of Erie’s west side. $70,053 pro forma annual income - $57,959 pro forma NOI. Offered at $645,000 – 9.0% pro forma cap rate. Contact broker for additional details.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 3 | - | 855 - 1,202 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $204,702 CAD | |
| Land Assessment | $43,128 CAD | Total Assessment | $247,831 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$43,128 CAD
Improvements Assessment
$204,702 CAD
Total Assessment
$247,831 CAD
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