What is the asking price for 2930 Cherry Street?

The lease rate for space here is Contact for pricing.

What type of property tenancy can you find at 2930 Cherry Street?

This property is listed as Multi-Tenant.

What is the total size of 2930 Cherry Street?

The property has a total square footage of 6,560 SF.

When was this property built?

2930 Cherry Street was built in 1909.

How many parking spaces are available at 2930 Cherry Street?

The property features 14 parking spaces, resulting in a parking ratio of 2.13 / 1,000 SF.

2930 Cherry Street, Erie, PA 16508

For Sale $645,000
Property Type Multi-Family
Property Size 6,560 SF
Units 6
Lot Size 0.19 Acre
Parking Spaces Avail. 14
Parking Ratio 2.13 / 1,000 SF
Property Tenancy Multi-Tenant
Year Built 1909
Date Updated May 8, 2026

Description

West side of Cherry Street just south of W. 29th Street at tee with Stafford Avenue. Additional frontage along Maple Street.6-Unit, mixed-use investment package for sale. Comprised of 3 contiguous parcels totaling 0.19± acres with 1 commercial unit & 5 residential rentals totaling 6,560± SF. 83% occupancy with excellent income history. $54,615 annual income & $42,040 net operating income (actual - 2025). Upside potential with below market rents. Unit mix includes 911± SF office/storefront, one 1 bedroom/1 bathroom apartment, one 2 bedroom/1 bathroom apartment, one 3 bedroom/1 bathroom single family home & two 3 bedroom/1 bathroom apartments. Off-street parking for ±14 with paved parking lot for ±9 and two private driveways plus on-street parking. All units are separately metered for gas &/or electric (one unit all electric). Centrally located just 0.4 miles (3 blocks) from Erie High School, the City’s only high school, and near Peach Street’s retail/service corridor and multiple public bus routes. Zoned Traditional Single Family Development (R-1A) in the City of Erie’s west side. $70,053 pro forma annual income - $57,959 pro forma NOI. Offered at $645,000 – 9.0% pro forma cap rate.

Highlights

$54,615 Annual Income & $42,040 Net Operating Income (2025 Actual)
$70,053 Pro Forma Annual Income - $57,959 Pro Forma NOI
±14 Off-Street Parking Spaces In Shared Parking Lot & Driveways Plus Street Parking
1 Bedroom, 1 Bathroom Apartment – Occupied
1 Commercial Unit & 5 Residential Units
2 Bedroom, 1 Bathroom Apartment – Occupied
3 Bedroom, 1 Bathroom Single Family Residence – Occupied
6-Unit, 3 Property Mixed-Use Investment Package Totaling 6,560± SF
83% Occupancy – Excellent Rental History
911± SF First Floor Commercial Space – Recently Vacated After Long-Term Tenancy
Centrally Located Just 0.4 Miles (±3 Blocks) From Erie High School
Comprised Of 3 Contiguous Parcels Totaling 0.19± Acres
Near Peach Street Retail/Service Corridor & Multiple Public Bus Routes
Offered At $645,000 – 9.0% Pro Forma Cap Rate
Separately Metered Gas & Electric
Two 3 Bedroom, 1 Bathroom Apartments – Occupied
Upside Potential With Below Market Rental Rates
Zoned Traditional Single Family Development (R-1A)