3006 Cherry Street, Erie, PA 16508

Erie
Local realty services provided by:ERA Team VP Real Estate
3006 Cherry Street,Erie, PA 16508
$135,000
  • 6 Beds
  • 2 Baths
  • 1,710 sq. ft.
  • Multi-family
  • Pending
Listed by: sherry bauer
Office: sbre - sherry bauer real estate services
MLS#:192327
Source:PA_GEBR

Price summary

  • Price:$135,000
  • Price per sq. ft.:$78.95

About this home

2-Unit, multi-family investment property for sale. 1,710± SF two-story, 2-unit, flat-style building with two 3 bedroom, 1 bathroom apartments. Fully occupied. Landlord owned appliances included: refrigerator, range, washer & dryer in each unit. Forced air gas heat & central air conditioning. Off-street parking for ±3 in private driveway plus street parking. Separately metered gas & electric. $19,170 Annual income & $15,518 net operating income (actual 2025) – offered at 11.5% cap rate. Upside potential with below market rental rates. $23,940 Pro forma annual income & $20,169 pro forma NOI, a 14.9% pro forma cap rate. Centrally located just 0.4 miles (3 blocks) from Erie High School, near Peach Street’s retail/service corridor & public bus routes. Zoned Traditional Single Family in the City of Erie. Tax abatement program available for capital improvement projects requiring a building permit. Long-term lower tenant & month-to-month upper tenant offering potential for owner-occupancy.

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Home facts

  • Year built:1908
  • Listing ID #:192327
  • Added:48 day(s) ago
  • Updated:September 16, 2026 at 08:03 AM

Rooms and interior

  • Bedrooms:6
  • Total bathrooms:2
  • Living area:1,710 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Forced Air, Gas
  • Central air:Yes

Structure and exterior

  • Roof:Asphalt
  • Year built:1908
  • Building area:1,710 sq. ft.
  • Lot area:0.07 Acres
  • Architectural Style:Two Story
  • Construction Materials:Frame
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$135,000
  • Price per sq. ft.:$78.95
  • Tax amount:$2,584 (2026)

Parking

  • Total parking spaces:3

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