Listing Agency: Coldwell Banker Select, REALTORS

Listed By: Jennifer Pontzer · License #PA Show Phone

Source: Crexi

Added: Apr 11 Changed: Sep 2 Last Checked: Sep 7 at 11:07AM

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Investment Insights

Based on property information with market context.

This multifamily property includes 6 occupied apartments and an unfinished common area identified as suitable for conversion into another apartment. The building is currently used for student housing and has been maintained.

The property is located at 421-423 West 8th St in Erie, between Chestnut and Walnut and within the Gannon corridor. The sale also includes 2 undeveloped parcels: 16-030-025.0-210.00, 16-030-025.0-209.00, and 16-030-025.0-203.00.

Key Highlights

• 6 occupied apartments
• Unfinished common area identified for conversion into another apartment
• Current student housing use in the Gannon corridor

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Pet Grooming Service Locksmith Home Appliance Store Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,174

Businesses Nearby

Explore this area Business Placement

Demographics for 16502, PA

15,435

Population

7,811

Households

2

Avg Household Size

34

Median Age

18%

College-Educated

90%

High-School Grad

2.5 sq mi

ZIP Area

6,174

Density / Sq Mi

$34,649

Median Household Income

$27,342

Median Earnings

$831

Median Rent

$90,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Maintained multifamily property with student housing use and additional unfinished common space.

Where is this apartment building located?

The property is located at 421-423 West 8th St Erie, PA.

What are key features of this property?

This property features: 6 occupied apartments; Unfinished common area identified for conversion into another apartment; Current student housing use in the Gannon corridor