Furnished Short-Term Rental
For Sale
$1,349,600
243-257 W 26TH Street, Erie, PA 16508
ResidentialIncome, Erie, PA
Property Size8,904 SF
Price / SF$151.57
Days on Market116
Property Features for 243-257 W 26TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
C-4
Bedrooms
24
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 4, Bedroom 14, Bedroom 17, Bedroom 10, Bedroom 12, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 19, Bedroom 21, Bedroom 15, Bedroom 23, Bedroom 2, Bedroom 20, Bathroom 8, Bedroom 7, Bedroom 9, Bathroom 6, Bedroom 24, Bathroom 2, Bathroom 10, Bedroom 3, Bedroom 13, Bedroom 5, Bathroom 5, Bedroom 1, Bedroom 11, Bedroom 18, Bedroom 16, Bathroom 7, Bedroom 22, Bathroom 9, Bathroom 3, Bedroom 8
Lot features
Flat
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
Peach st to W 26th St. Property on left of 200 block.
Subdivision
3 - Erie Southwest
Standard status
Active
APN
19-060-053.0-324.00
Size
8,904 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11431
Expense value
25000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1914
Number of units
3
Building materials
Brick, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
eXp Realty - Meadville
(888) 397-7352
Listed By:
Caleb Kowalczyk · License #RS364924
(814) 873-7793
Added: Jun 16
Changed: Sep 27
Last Checked: Oct 9 at 5:06AM
MLS# 192211
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 8,904-square-foot apartment property includes 10 units across four buildings on the same block. The buildings date to 1914 and feature brick and frame construction, asphalt roofs, natural gas forced-air heating, window-unit cooling, public water, and public sewer. Improvements include renovated electrical and plumbing systems, appliances, selected windows, roofs, gutters, decks, and a covered front porch. Furniture, linens, towels, pillows, and blankets are included, along with the existing short-term rental setup.
The property is located across from Saint Vincent Hospital in Erie, with access to Gannon University, Mercyhurst University, Lake Erie College of Osteopathic Medicine, UPMC Hamot, I-90, I-79, and Erie Insurance. The seller is willing to assist with transferring existing bookings. The room schedule includes 24 bedrooms and 10 bathrooms across the four-building offering.
The property is located across from Saint Vincent Hospital in Erie, with access to Gannon University, Mercyhurst University, Lake Erie College of Osteopathic Medicine, UPMC Hamot, I-90, I-79, and Erie Insurance. The seller is willing to assist with transferring existing bookings. The room schedule includes 24 bedrooms and 10 bathrooms across the four-building offering.
Key Highlights
- 10‑unit short‑term rental property across 4 buildings
- 8,904 square feet across buildings on the same block
- Fully furnished with furniture, linens, towels, pillows, and blankets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,723
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,460
$1.1M
Cap Rate 7%
$781,757
$781.8K
Cap Rate 9%
$608,033
$608.0K
Market Conditions
NOI Build-Up for 8,904 SF
Gross rent
$103.6K $11.64/SF
− Vacancy
−$4.1K −$0.47/SF
EGI
$99.5K $11.17/SF
− OpEx
−$44.8K −$5.03/SF
NOI
$54.7K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,460
Cap Rate 7%
$781,757
Cap Rate 9%
$608,033
Alternative Uses
Best Use
Apartment 5plus
$781.8K
$684.0K – $912.1K
NOI $54,723 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,630 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,812
Businesses Nearby
Explore this area
Business Placement
Demographics for 16508, PA
15,172
Population
7,385
Households
2.1
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
2.8 sq mi
ZIP Area
5,419
Density / Sq Mi
$52,361
Median Household Income
$36,209
Median Earnings
$852
Median Rent
$121,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated, furnished short-term rental portfolio positioned across from Saint Vincent Hospital.
Where is this apartment building located?
The property is located at 243-257 W 26TH Street Erie, PA.
What is the asking price?
The asking price for this property is $1,349,600.
What are key features of this property?
This property features: 10‑unit short‑term rental property across 4 buildings; 8,904 square feet across buildings on the same block; Fully furnished with furniture, linens, towels, pillows, and blankets
