4-Unit Mixed-Use Investment Property

Investment Overview

4-Unit, mixed-use investment package for sale. Comprised of 2 contiguous parcels totaling 4,850± SF on 0.12± acres with 1 commercial unit & 3 residential rentals with excellent rental history. Ideal opportunity for the investor seeking upside potential or the entrepreneur looking for a commercial space for their own business with rental income. $35,445 annual income & $26,522 net operating income based on 2025; offered at $310,000 – 8.6% actual cap rate. Upside potential with below market rents. $45,300 pro forma annual income - $34,695 pro forma NOI – 11.2% pro forma cap rate. Unit mix includes one 1 bed/1 bath apartment, one 2 bed/1 bath apartment, one 3 bed/1 bath single family home & 911± SF office/storefront. Two bedroom apartment was vacated in October 2026 by a long-term tenant with 17+ year tenancy – currently under renovation and offered for lease at $875/month plus utilities. The first floor commercial unit was vacated in 2025 after 10+ year tenancy and is newly offered for lease at $925/month + utilities. Floor plans available for some units. Off-street parking for ±11 with paved parking lot for ±9 & private driveway plus on-street parking. All units are separately metered for gas &/or electric (1 unit all electric). Centrally located just 0.4 miles (3 blocks) from Erie High School, the City’s only high school, and near Peach Street’s retail/service corridor and multiple public bus routes. Zoned Traditional Single Family Development (R-1A) in the City of Erie’s west side. Tax abatement program available for capital improvement projects requiring a building permit. May sub-divide to sell separately. Contact broker for additional details or to schedule a tour.

Investment Highlights

• 4-Unit, 2 Property Mixed-Use Investment Package
• Comprised Of 2 Contiguous Parcels Totaling 0.1214± Acres
• 4,850± SF – 1 Commercial Unit & 3 Residential Units With Excellent Rental History
• $35,445 Actual Annual Income – $26,522 Actual NOI – 8.6% Actual Cap Rate (2025)
• Below Market Rents Offering Upside Potential
• $45,300 Pro Forma Annual Income – $34,695 Pro Forma NOI – 11.2% Pro Forma Cap Rate
• 1 Bedroom, 1 Bathroom Apartment – Leased Month-to-Month
• 2 Bedroom, 1 Bathroom Apartment – Newly Vacant October 2026 After Long-Term Tenancy – Offered At $875/Month + Utilities
• 3 Bedroom, 1 Bathroom Single Family Residence – Leased
• 911± SF First Floor Commercial Space – Vacated After 10+ Year Tenancy – Newly Offered For Lease At $925/Month + Utilities – Had Kept Vacant For Potential Owner Occupant
• ±11 Off-Street Parking Spaces In Shared Parking Lot & Driveway Plus Street Parking
• Separately Metered Gas & Electric
• Zoned Traditional Single Family Development (R-1A)
• Centrally Located Just 0.4 Miles (±3 Blocks) From Erie High School
• Near Peach Street Retail/Service Corridor & Multiple Public Bus Routes
• Offered At $310,000 As A 4-Unit Package – May Sub-Divide