Renovated Brick
For Sale
$254,900
658-60 E 7TH Street, Erie, PA 16501
ResidentialIncome, Erie, PA
Property Size3,800 SF
Lot Size0.08 Acres
Price / SF$67.08
Days on Market51
Property Features for 658-60 E 7TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 3, Bathroom 2
Parking features
Garage
Lot features
Level
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
East on 6th St to South on Reed.
Subdivision
1 - Erie Northeast
Standard status
Active
APN
14-010-019.0-200.00
Size
3,800 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2143
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
deck
Building Details
Year built
1920
Number of units
4
Building materials
Brick, VinylSiding
Roof type
Composition
Architectural style
Other
Listing Agency:
Coldwell Banker Select - Peach · Coldwell Banker Real Estate
(814) 453-4578
Listed By:
Paul Nick · License #RS329894
(814) 572-3864
Added: Aug 18
Changed: Oct 2
Last Checked: Oct 7 at 4:06AM
MLS# 192727
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 3,800-square-foot brick quadplex, built in 1920, contains four apartments arranged across two levels. The second floor offers two two-bedroom units, while the first floor includes a one-bedroom apartment and an efficiency. Recent renovations include kitchens, bathrooms, flooring, and interior paint, with updated electrical and plumbing systems throughout. Additional improvements include a newer composition roof and a two-story rear deck.
The property sits on a 0.08-acre lot and includes a one-car detached garage and full basement. Public water and public sewer serve the building, with natural gas hot-water heating. Vinyl siding is also present alongside the brick construction.
The property sits on a 0.08-acre lot and includes a one-car detached garage and full basement. Public water and public sewer serve the building, with natural gas hot-water heating. Vinyl siding is also present alongside the brick construction.
Key Highlights
- Four‑unit apartment building with two two‑bedroom units, one one‑bedroom unit, and one efficiency
- 3,800 square feet on a 0.08‑acre lot
- Renovated kitchens, bathrooms, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,354
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,080
$467.1K
Cap Rate 7%
$333,629
$333.6K
Cap Rate 9%
$259,489
$259.5K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$44.2K $11.64/SF
− Vacancy
−$1.8K −$0.47/SF
EGI
$42.5K $11.17/SF
− OpEx
−$19.1K −$5.03/SF
NOI
$23.4K $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%
$467,080
Cap Rate 7%
$333,629
Cap Rate 9%
$259,489
Alternative Uses
Best Use
Multifamily LT 5
$372.9K
$326.3K – $435.0K
NOI $26,101 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,354 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$942.7K
$824.9K – $1.10M
NOI $65,992 @ 7.0% cap · market cap 25.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 16501, PA
2,241
Population
1,468
Households
1.5
Avg Household Size
48
Median Age
23%
College-Educated
85%
High-School Grad
0.7 sq mi
ZIP Area
3,201
Density / Sq Mi
$14,579
Median Household Income
$12,623
Median Earnings
$411
Median Rent
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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?
Quadplex - Updated four-unit apartment property with a detached garage, full basement, and two-story rear deck.
Where is this quadplex located?
The property is located at 658-60 E 7TH Street Erie, PA.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: Four‑unit apartment building with two two‑bedroom units, one one‑bedroom unit, and one efficiency; 3,800 square feet on a 0.08‑acre lot; Renovated kitchens, bathrooms, flooring, and paint
