For sale

Price cut: $20K (7/8)

$329,900

1029-31 East Ave, Erie, PA 16503

6beds

8baths

7,667sqft

$2,240/mo

Get pre-qualified

Multi Family

Built in 1909

-- sqft lot

$-- Zestimate^®

$43/sqft

$-- HOA

What's special

Strong visibilityConsistent traffic exposureCorner location

An exceptional opportunity to add a high-performing mixed-use asset to your portfolio. Producing a 12% cap rate, 31% cash-on-cash, and a 1.99 debt coverage ratio, this fully leased investment offers strong cash flow with additional upside potential. The property includes two storefronts and six residential units (four one-bedroom apartments and two efficiency units), creating a diversified income stream that helps reduce vacancy risk. A 30' x 40' warehouse provides added flexibility for additional rental income, storage, or owner use. Located in a commercial zoning district on a prominent corner, the property offers excellent visibility, convenient access to major roadways and public transportation, and a proven combination of stable occupancy.

124 days

170

9

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 8

Heating

Forced Air, Gas

Cooling

Window Unit(s)

Interior area

Total structure area: 7,667
Total interior livable area: 7,667 sqft

Property

Parking

Total spaces: 6
Parking features: Garage
Garage spaces: 6

Features

Levels: Two
Stories: 2

Lot

Size: 4,883 Square Feet
Dimensions: 41 x 118 x 0 x 0
Features: Corner Lot

Details

Parcel number: 15020046.0225.00
Zoning description: C-4

Construction

Type & style

Home type: MultiFamily
Architectural style: Two Story
Property subtype: Multi Family

Materials

Mixed
Roof: Metal

Condition

Year built: 1909

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Location

Region: Erie

Financial & listing details

Price per square foot: $43/sqft
Tax assessed value: $72,600
Annual tax amount: $2,967
Date on market: 4/10/2026
Cumulative days on market: 128 days
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

$931/mo

Price history

Date	Event	Price
7/8/2026	Price change	$329,900-5.7%$43/sqft
Source: GEMLS #190291 Report a problem
5/19/2026	Price change	$349,900-10.3%$46/sqft
Source: GEMLS #190291 Report a problem
4/10/2026	Listed for sale	$389,900+20%$51/sqft
Source: GEMLS #190291 Report a problem
5/7/2022	Listing removed	--
Source: Owner Report a problem
2/6/2022	Listed for sale	$325,000$42/sqft
Source: Owner Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,871	$72,600
2024	$2,871 +5.2%	$72,600
2023	$2,729 +2.1%	$72,600
2022	$2,672	$72,600
2021	$2,672 +95.4%	$72,600
2020	$1,367 -44.9%	$72,600
2019	$2,479 -12.8%	$72,600
2018	$2,843 +3.6%	$72,600
2017	$2,745 +0.7%	$72,600
2016	$2,727 +15.9%	$72,600
2015	$2,352	$72,600