Remodeled Three-Unit Loft
942 BROWN Avenue Erie, PA 16502
942 BROWN Avenue, Erie, PA, 16502
$255,000
For Sale
$255,000
MULTI_FAMILY - Other - Erie, PA
Property Size2,896 SF
Lot Size0.11 Acres
Price / SF$88.05
Days on Market18
Property Features for 942 BROWN Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1
- Parking
- 3
- Standard status
- Active
- APN
- 19-060-026.0-116.00
- Size
- 2,896 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4758
- Expense value
- 5000
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1905
- Number of units
- 3
- Building materials
- VinylSiding
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Nicholas Marinelli · License #AB062182L
(814) 806-6300
Added: Jun 30 Checked: Jul 17 at 10:06 pm
MLS# 191809
Listing URL
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 remodeled, turn-key three-unit property is offered fully furnished and ready to operate. The building provides three unique New York-style loft apartments, each with vaulted ceilings, fireplaces, and open living spaces. Every unit includes two bedrooms, creating consistent layouts while still offering character through the loft design. An on-site laundry facility and off-street parking are also included, supporting day-to-day convenience for residents or short-term guests.
The property is located at 942 BROWN Avenue in Erie, Pennsylvania. Set on a relatively small lot, the site supports a compact multi-family setup designed for efficient on-site operations.
Given its furnished condition and current suitability as a rotating short-term business rental for traveling professionals, this property may fit buyers looking for a ready-to-deploy short-term rental or a residence with rental income. With three separate apartments and shared on-site amenities, it can also work for buyers who plan to rent individual units to complement owner occupancy. Because specific operating history and performance figures are not provided, interested buyers should evaluate local rental conditions and their intended management approach during due diligence.
The property is located at 942 BROWN Avenue in Erie, Pennsylvania. Set on a relatively small lot, the site supports a compact multi-family setup designed for efficient on-site operations.
Given its furnished condition and current suitability as a rotating short-term business rental for traveling professionals, this property may fit buyers looking for a ready-to-deploy short-term rental or a residence with rental income. With three separate apartments and shared on-site amenities, it can also work for buyers who plan to rent individual units to complement owner occupancy. Because specific operating history and performance figures are not provided, interested buyers should evaluate local rental conditions and their intended management approach during due diligence.
Key Highlights
- 3‑unit property with three New York‑style loft apartments
- Each unit offers vaulted ceilings, fireplaces, and open living spaces, with two bedrooms per unit
- Fully furnished and set up for short‑term business rental use, with each apartment including furniture
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $10.20 |
| − Vacancy | −$1.1k | −$0.39 |
| EGI | $28.4k | $9.81 |
| − OpEx | −$8.5k | −$2.94 |
| NOI | $19.9k | $6.87 |
2,896 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$284.2K
$248.7K – $331.5K
NOI $19,892 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$254.3K
$222.5K – $296.7K
NOI $17,799 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$718.5K
$628.7K – $838.2K
NOI $50,293 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turn-key, fully furnished three-unit loft building with two bedrooms per unit plus on-site laundry and off-street parking.
Where is this triplex located?
The property is located at 942 BROWN Avenue Erie, PA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 3‑unit property with three New York‑style loft apartments; Each unit offers vaulted ceilings, fireplaces, and open living spaces, with two bedrooms per unit; Fully furnished and set up for short‑term business rental use, with each apartment including furniture
