1029 31 East Avenue
Erie, PA 16503
6
Bed
0
Bath
7,667Sqft
0.11Acre(Lot)
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.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
-
Bedroom Information
Total beds: 6 -
Roofing Information
Metal -
Interior Features
Roof: Metal -
Heating & Cooling
Has Heating: Yes Heating: Forced Air Has Cooling: Yes Cooling: Window Unit(s)
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Building Information
Year Built: 1909 Building Area Total: 7667 Stories: 2 Private Pool: No
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Lot Information
Lot Dimensions: 41x118x0x0 Main Square Feet: 0.1121 Acres Lot Size Acres: 0.1121 Lot Description: Corner Lot
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Listing Price Information
Listing Price: $329900 Original Price: $389900
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Tax Information
Parcel Number: 15-020-046.0-225.00 Tax Year: 2026 Annual Tax: $2967
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Parking Information
Parking Total: 4Garage Information
Has Garage: Yes Garage Space: 6
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Location Information
Direction: From downtown Erie, head east on E 12th St. Turn left onto East Ave. Property is on the right. WaterSource: Public
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1346 Buffalo Road, Erie, PA, 16503 | $219,900 | 6 | 2 | 2,640 | 0.10 Acre |
| 2523 Wayne Street, Erie, PA, 16503 | $189,000 | 6 | -- | 5,612 | 0.23 Acre |
| 1329 E 10th Street, Erie, PA, 16503 | $149,900 | 5 | -- | 1,584 | 0.09 Acre |
| 862 E 22nd Street, Erie, PA, 16503 | $92,500 | 3 | 2 | 2,184 | 0.06 Acre |
| 722 E 25th Street, Erie, PA, 16503 | $100,000 | 4 | -- | 2,208 | 0.12 Acre |
| 914 Hess Avenue, Erie, PA, 16503 | $119,000 | 4 | -- | 1,496 | 0.07 Acre |
| 1341-1343 E 7th Street, Erie, PA, 16503 | $140,000 | 6 | -- | 1,981 | 0.33 Acre |
| 1045-47 E 9th Street, Erie, PA, 16503 | $79,900 | 2 | -- | 1,408 | 0.07 Acre |
| 743 E 13th Street, Erie, PA, 16503 | $155,400 | 4 | -- | 2,640 | 0.08 Acre |
| 145 E 21st Street, Erie, PA, 16503 | $139,000 | 5 | -- | 1,848 | 0.08 Acre |
Similar Multifamily To 1029 31 East Avenue
Nearby For Sale
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ByOwner last updated this listing 09/30/2026 @ 19:49
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