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2930 Cherry Street, Erie, PA 16508

Erie
Local realty services provided by:CENTURY 21 Frontier Realty
2930 Cherry Street,Erie, PA 16508
$495,000
Virtual Tour
  • 12 Beds
  • 7 Baths
  • 6,560 sq. ft.
  • Multi-family
  • Active
Listed by: sherry bauer
Office: sbre - sherry bauer real estate services
MLS#:192294
Source:PA_GEBR

Price summary

  • Price:$495,000
  • Price per sq. ft.:$75.46

About this home

6-Unit, mixed-use investment package for sale. Comprised of 3 contiguous parcels totaling 0.19± acres. Total of 6,560± SF with 1 commercial unit & 5 residential rentals. 67% occupancy with excellent income history. $54,615 annual income & $42,040 net operating income – offered at $495,000 – 8.5% cap rate based on 2025. Upside potential with below market rents. Unit mix: 911± SF office/storefront, 1 bed/1 bath apartment, 2 bed/1 bath apartment, 3 bed/1 bath single family home & two 3 bed/1 bath apartments. Off-street parking for ±14 with paved parking lot for ±9 and 2 private driveways plus on-street parking. All units are separately metered for gas &/or electric (1 unit all electric). Centrally located just 0.4 miles (3 blocks) from Erie High School & near Peach Street retail/service corridor & bus routes. Zoned Traditional Single Family Development (R-1A) in the City of Erie’s west side. Upside potential with pro forma annual income $70,053, NOI $57,942 & 11.7% cap rate.

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Home facts

  • Year built:1909
  • Listing ID #:192294
  • Added:1 day(s) ago
  • Updated:July 30, 2026 at 01:56 AM

Rooms and interior

  • Bedrooms:12
  • Total bathrooms:7
  • Living area:6,560 sq. ft.

Heating and cooling

  • Heating:Gas, Multi Fuel

Structure and exterior

  • Year built:1909
  • Building area:6,560 sq. ft.
  • Lot area:0.19 Acres
  • Construction Materials:Frame

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$495,000
  • Price per sq. ft.:$75.46
  • Tax amount:$7,548 (2026)

Parking

  • Total parking spaces:14

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