2931 Maple St - Residential Income FOR SALE


Erie, PA 16508- South Suburban Erie
$360,000 USD
814-460-2000
2931 Maple St, Erie, PA for Sale
$360,000 USD
Residential Income - FOR SALE
1/22
null | 7.37% Cap Rate


HIGHLIGHTS

  • 4-Unit, 2 Property Mixed-Use Investment Package
  • 4,850± SF – 1 Commercial Unit & 3 Residential Units
  • $35,445 Annual Income & $26,522 Net Operating Income
  • Upside Potential With Below Market Rental Rates
  • $46,113 Pro Forma Annual Income – $37,773 Pro Forma NOI – 10.5% Pro Forma Cap Rate
  • ±11 Off-Street Parking Spaces - Separately Metered Gas & Electric

OVERVIEW

4-Unit, mixed-use investment package for sale. Comprised of 2 contiguous parcels totaling 4,850± SF on 0.12± acres with 1 commercial unit & 3 residential rentals. 50% occupancy with excellent income history. $35,445 annual income & $26,522 net operating income based on 2025; offered at $360,000 – 7.4% actual cap rate. Upside potential with below market rents. $46,113 pro forma annual income - $37,773 pro forma NOI – 10.5% pro forma cap rate. 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. Off-street parking for ±11 with paved parking lot for ±9 and a private driveway 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. Tax abatement program available for capital improvement projects requiring a building permit. Contact broker for additional details or to schedule a tour.

FOR SALE DETAILS

PRICE

$360,000 USD

PRICE/SF

$74 USD /SF

CAP RATE

7.37%

% LEASED

50%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4-Unit Mixed-Use Investment Property

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Residential Income

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1909

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,066 SF

ZONING

R-1A

APN/PARCEL ID

19-060-044.0-118.00

ASK ABOUT THIS PROPERTY

Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

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Sherry BauerSBRE - Sherry Bauer Real Estate ServicesMore Info
814-460-2000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.