Exceptional opportunity to own 17 units across four adjacent properties in the heart of Erie’s West Bayfront Neighborhood! Be part of the continued revitalization taking place along this West 8th Street Corridor. This well-positioned package is being offered at a 10% CAP RATE, delivering strong cash flow and ROI from day one. Extensive capital improvements have been completed on properties under the current ownership—See the included improvement list for full details. In addition to the residential units, this property includes 7 garage units currently leased for storage, providing an additional income stream. A large rear lot offers off-street parking for tenants. Situated near Gannon University, UPMC Hamot, Erie Insurance, Saint Vincent Hospital, State Street, Lake Erie, and public transportation, this property benefits from strong tenant demand and accessibility. With a proven rental history and long-term growth potential, this is a chance to capitalize on a high-performing asset!
For sale
Price cut: $50K (7/14)
$950,000
345-359 W 8th St, Erie, PA 16502
25beds
17baths
18,085sqft
Est.:
Multi Family
Built in 1909
-- sqft lot
$-- Zestimate®
$53/sqft
$-- HOA
What's special
Off-street parking
- 73 days
- on Zillow |
- 548 |
- 37 |
Zillow last checked: 7 hours ago
Listing updated: August 13, 2025 at 06:14pm
Listed by:
Jake Bowers 814-897-5036,
The Bowers Group LLC 814-874-4000
Source: GEMLS,MLS#: 184213Originating MLS: Greater Erie Board Of Realtors
Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 25
- Bathrooms: 17
Heating
- Forced Air, Gas
Cooling
- None
Interior area
- Total structure area: 18,085
- Total interior livable area: 18,085 sqft
Property
Parking
- Total spaces: 7
- Parking features: Detached, Garage
- Garage spaces: 7
Lot
- Features: Cleared, Flat
Details
- Parcel number: 16030020.0219.00
- Zoning: RLB
- Zoning description: C-1
Construction
Type & style
- Home type: MultiFamily
- Architectural style: See Remarks
- Property subtype: Multi Family
Materials
- Aluminum Siding, Brick
- Roof: Asphalt
Condition
- Resale
- Year built: 1909
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Deposit fee: $20,000
Location
- Region: Erie
Financial & listing details
- Price per square foot: $53/sqft
- Tax assessed value: $371,838
- Annual tax amount: $14,703
- Date on market: 6/9/2025
- Road surface type: Paved
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