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630-632 W 8th St
Erie, PA 16502
Multifamily Property For Sale
·
6 Units
Property Facts
| No. Units | 6 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1910 |
| Lot Size | 0.30 AC | Parking Ratio | 0.89/1,000 SF |
| Building Size | 6,732 SF | ||
| Zoning | R-2 | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.30 AC |
| Building Size | 6,732 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1910 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | R-2 |
Amenities
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
About 630-632 W 8TH ST , ERIE, PA 16502
Well Maintained 6-Unit Investment Property Near Gannon University. Property features 5 apartments & 1 storefront with additional rental income from 5 garages. Unit mix: (1) 1 bed/1 bath, (1) 2 bed/1 bath w/ basement & laundry hook-ups, (1) 3 bed/2 bath w/ laundry hook-ups, (2) 3 bed/1 bath w/ laundry hook-ups, 900 ± SF storefront and 5 single bay garages. Multiple upgrades: roof, siding, windows, hot water tanks, furnaces, etc - see details in attached Offering Memorandum. Projected Gross Operating Income: $40,440. Projected NOI: $24,483 with upside potential. Offered at 12.27% cap rate.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $400.00 | - |
| 2+1 | 1 | $495.00 | - |
| 3+1 | 2 | $610.00 | - |
| 3+2 | 1 | $555.00 | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $126,600 | |
| Land Assessment | $19,000 | Total Assessment | $145,600 |
Property Taxes
Parcel Numbers
Land Assessment
$19,000
Improvements Assessment
$126,600
Total Assessment
$145,600
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