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31693490

1029 31 East Avenue, Erie, PA 16503

JS
PA PA RS.318016, PA
Agresti Real Estate
Listed by Agresti Real Estate
$349,900
55 days on market
Updated 21 days ago

1029 31 East Avenue

Details
APN 15-020-046.0-225.00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,667
Units 8
NOI $54,771
Price per SqFt $51
Year Built 1909
Stories 2
Acreage 0.112
Zoning C-4
Parking Spaces 10 spaces
Parking Per SqFt 1.30

1029 31 East Avenue, Erie, PA 16503

Marketing description

Positioned within a commercial zoning district allowing a variety of retail, office and service uses, this property includes two storefront units and six residential units (four 1 bedroom apartments and two efficiency units), all currently leased and generating steady income. This property also features a 30' x 40' warehouse/garage space offering additional flexibility for future rental income, use, or storage. Corner location provides strong visibility, accessibility, and consistent traffic exposure with convenient access to ,major roadways, public transportation and nearby amenities. The diversified unit mix enhances occupancy stability and supports consistent rental demand, offering a solid, income-generating opportunity in an established area of Erie.

Listing Contacts

JS
PA PA RS.318016, PA
Agresti Real Estate
Listed by Agresti Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$54,771.00
$4,564.25/mo

Valuation Metrics

0
DSCR
15.65%
Cap Rate
15.65%
ROI

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Additional Information

Name
Jake Scheloske
License
PA RS.318016
Brokerage
Agresti Real Estate
Title
VP of Sales
Brokerage Address
2635 West 26th Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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