Multifamily Property in Erie,
550 E 9TH Street, Erie, PA 16503
MULTI_FAMILY - Other - Erie, PA
Property size:
2,034 SFLot size:
0.12 AcresPrice / SF:
$77/SF- Added:
- Jun 12, 2025
- Days on Market:
- 355
- Last Refresh:
- Jun 1 at 4:06 am
Property Features for 550 E 9TH Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3
- Standard status
- Active
- APN
- 15-020-026.0-242.00
- Size
- 2,034 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1569
- Expense value
- 2000
- 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
- 1897
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Frame
- Roof type
- Composition
- Architectural style
- Other
Listing agent Dan Cruz License #RS357852 (814) 460-0742
Listing office Agresti Real Estate 2635 W 26th Street, Erie, PA (814) 459-9400
Listing date Jun 12, 2025
MLS# 184268
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.
HighLights
- Two houses on one lot, a unique investment opportunity.
- Fully occupied, providing immediate income.
- Front house features 3 bedrooms.
- Back house includes 2 bedrooms.
- Public water and sewer.
- Can be purchased as part of a seven‑property package.
Overview
This multifamily property features two houses situated on a single lot. The front house includes 3 bedrooms, while the back house offers 2 bedrooms. The property is fully occupied, presenting an immediate income opportunity. The lot size is 0.1175 acres, and the total property size is 2034 square feet. This property is located in Erie, PA. It is one of seven properties available for purchase as a package.
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 | $20.7k | $10.20 |
| − Vacancy | −$788 | −$0.39 |
| EGI | $20.0k | $9.81 |
| − OpEx | −$6.0k | −$2.94 |
| NOI | $14.0k | $6.87 |
2,034 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$199.6K
$174.6K – $232.9K
NOI $13,971 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$178.6K
$156.3K – $208.4K
NOI $12,501 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$504.6K
$441.5K – $588.7K
NOI $35,323 @ 7.0% cap · market cap 22.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Erie
- County
- Erie
- State
- Pennsylvania
- Longitude
- -80.070784
- Latitude
- 42.131434
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two houses on one lot, fully occupied investment opportunity.
Where is this duplex located?
The property is located at 550 E 9TH Street Erie, PA.
What is the asking price?
The asking price for this property is $157,500.
What are key features of this property?
This property features: Two houses on one lot, a unique investment opportunity.; Fully occupied, providing immediate income.; Front house features 3 bedrooms.
