Corner Mixed-Use Investment
For Sale
$329,900
1029 31 EAST Avenue, Erie, PA 16503
ResidentialIncome, Erie, PA
Property Size7,667 SF
Lot Size0.11 Acres
Price / SF$43.03
Days on Market175
Property Features for 1029 31 EAST Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
C-4
Bedrooms
6
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bathroom 7, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 5, Bedroom 6, Bathroom 3, Bathroom 8
Parking
4
Lot features
Corner Lot
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
From downtown Erie, head east on E 12th St. Turn left onto East Ave. Property is on the right.
Subdivision
1 - Erie Northeast
Standard status
Active
APN
15-020-046.0-225.00
Size
7,667 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2967
Expense value
10000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1909
Floors in Building
2
Number of units
8
Building materials
Mixed
Roof type
Metal
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Stephen Chiz · License #RS362944
(814) 882-3989
Added: Apr 6
Changed: Sep 23
Last Checked: Sep 27 at 4:06AM
MLS# 190291
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,667-square-foot mixed-use property, built in 1909, combines two storefronts with six residential units: four one-bedroom apartments and two efficiency units. A separate 30' x 40' warehouse adds space for storage, rental use, or owner occupancy. The building has mixed construction, a metal roof, natural gas forced-air heating, window-unit cooling, public water, and public sewer.
Positioned on a prominent corner in Erie’s commercial zoning district, the property offers access to major roadways and public transportation. The asset is fully leased and reports a 12% cap rate, 31% cash-on-cash return, and 1.99 debt coverage ratio, supported by a combination of retail, residential, and warehouse components.
Positioned on a prominent corner in Erie’s commercial zoning district, the property offers access to major roadways and public transportation. The asset is fully leased and reports a 12% cap rate, 31% cash-on-cash return, and 1.99 debt coverage ratio, supported by a combination of retail, residential, and warehouse components.
Key Highlights
- Fully leased mixed‑use property with 7,667 square feet
- Two storefronts and 6 residential units
- Residential mix includes 4 one‑bedroom apartments and 2 efficiency units
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 16503, PA
15,328
Population
6,375
Households
2.4
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
6,387
Density / Sq Mi
$29,108
Median Household Income
$25,679
Median Earnings
$837
Median Rent
$55,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combines storefront, apartment, and warehouse components in a commercial zoning district.
Where is this mixed-use property located?
The property is located at 1029 31 EAST Avenue Erie, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Fully leased mixed‑use property with 7,667 square feet; Two storefronts and 6 residential units; Residential mix includes 4 one‑bedroom apartments and 2 efficiency units
