1029 31 East Avenue, Erie, PA 16503

Erie
Local realty services provided by:ERA Richmond Real Estate Service
1029 31 East Avenue,Erie, PA 16503
$329,900
  • 6 Beds
  • - Baths
  • 7,667 sq. ft.
  • Multi-family
  • Active
Listed by: stephen chiz
Office: agresti real estate
MLS#:190291
Source:PA_GEBR

Price summary

  • Price:$329,900
  • Price per sq. ft.:$43.03

About this home

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.

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Home facts

  • Year built:1909
  • Listing ID #:190291
  • Added:158 day(s) ago
  • Updated:September 16, 2026 at 02:09 PM

Rooms and interior

  • Bedrooms:6
  • Living area:7,667 sq. ft.

Heating and cooling

  • Cooling:Window Units
  • Heating:Forced Air, Gas

Structure and exterior

  • Roof:Metal
  • Year built:1909
  • Building area:7,667 sq. ft.
  • Lot area:0.11 Acres
  • Lot Features:Corner Lot
  • Architectural Style:Two Story
  • Construction Materials:Mixed
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$329,900
  • Price per sq. ft.:$43.03
  • Tax amount:$2,967 (2026)

Parking

  • Total parking spaces:4
  • Garage:Yes
  • Garage spaces:6

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