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2930 Cherry St
Erie, PA 16508 South Suburban Erie

$645,000 USD

Apartments For Sale • 4,974 SF

Property Details

Property Type Apartments
Total Building Size 6,560 SF
Lot Size 0.19 AC
Building Class C
Year Built 1909
Cap Rate 8.99 %
Zoning R1A

30 Transit Score

70 Walk Score

                
                    Highlights
                
                                6-Unit, 3 Property Mixed-Use Investment Package Totaling 6,560± SF
                            
                                Comprised Of 3 Contiguous Parcels Totaling 0.19± Acres With Parking For ±14
                            
                                1 Commercial Unit & 5 Residential Units - 83% Occupancy With Excellent Rental History
                            
                                $54,615 Annual Income & $42,040 Net Operating Income (2025 Actual)
                            
                                Upside Potential With Below Market Rental Rates
                            
                                $70,053 Pro Forma Annual Income - $57,959 Pro Forma NOI - 9% Pro Forma Cap Rate

Property Flyers

BROCHURE-6-Unit Investment (Cherry-Maple St) Compressed

Financial Summary (Proforma)

Net Operating Income: $57,959 USD (2026)

Cap Rate:	8.99 %
Total Expenses:	$12,094 USD

Public Transportation

Commuter Rail	Drive	Walk	Distance
	5 min	-	1.8 mi
Airport	Drive	Walk	Distance
Erie International/Tom Ridge Field	14 min	-	6.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	14
Type:	Surface
Included in Rent:	Yes

Sherry Bauer 814-460-2000 SBRE - Sherry Bauer Real Estate Services

2930 Cherry St Erie, PA 16508 South Suburban Erie