3006 Cherry Street

For Sale

3006 Cherry Street, Erie, PA 16508

This Erie property for sale is located at 3006 Cherry Street. The current listed sale price for 3006 Cherry Street is $135,000. 3006 Cherry Street is situated on a lot that is 0.07 acre in size.

Contacts

Sherry Bauer

SBRE - Sherry Bauer Real Estate

Property Details

  • Property Type Multi-Family
  • Property Size 1,710 SF
  • Units 2
  • Lot Size 0.07 Acre
  • Parking Spaces Avail. 3
  • Property Tenancy Multi-Tenant
  • Year Built 1908
  • Date Updated Jul 29, 2026
West side of Cherry Street just south of W. 29th Street at tee with Stafford Avenue.2-Unit, multi-family investment property for sale. 1,710± SF two-story, 2-unit, flat-style building on 0.07± acres with two 3 bedroom, 1 bathroom apartments. Fully occupied. Landlord owned appliances included: refrigerator, range, washer & dryer in each unit. Forced air gas heat & central air conditioning. Off-street parking for ±3 in private driveway plus street parking. Separately metered gas & electric. $19,170 Annual income & $15,518 net operating income (actual 2025) – offered at 11.5% cap rate. Upside potential with below market rental rates. $23,940 Pro forma annual income & $20,169 pro forma NOI, a 14.9% pro forma cap rate. Centrally located just 0.4 miles (3 blocks) from Erie High School, 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. Tax abatement program available for capital improvement projects requiring a building permit. Long-term lower tenant and month-to-month upper tenant offering potential for owner-occupancy. Contact broker for additional details or to schedule a tour.
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Highlights

  • $19,170 Annual Income & $15,518 Net Operating Income Offered At 11.5% Cap Rate (Actual 2025)
  • $23,940 Pro Forma Annual Income $20,169 Pro Forma NOI 14.9% Pro Forma Cap Rate
  • 0.0689± Acre Lot Zoned Traditional Single Family Development (R-1A)
  • 1,710± SF Two-Story, 2-Unit, Flat-Style Multi-Family Property
  • 2-Unit Multi-Family Investment Property
  • Centrally Located Just 0.4 Miles (±3 Blocks) From Erie High School
  • Forced Air Gas Heat & Central Air Conditioning
  • Landlord Owned Appliances Included: Refrigerator, Range, Washer & Dryer In Each Unit
  • Near Peach Street Retail/Service Corridor & Multiple Public Bus Routes
  • Offered At $135,000
  • Off-Street Parking For ±3 In Private Driveway Plus Street Parking
  • Separately Metered Gas & Electric
  • Tax Abatement Program Available For Capital Improvement Requiring Building Permit
  • Two 3 Bedroom, 1 Bathroom Apartments 100% Occupied
  • Upside Potential With Below Market Rental Rates

Attachments

Getting around

  • 70/100

    Walk Score ®

  • 36/100

    Transit Score ®

  • 54/100

    Bike Score ®

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Location

  • City Erie, PA
  • Zip Code 16508

Points of Interest

  • Erie Zoo Train Station

    0.61 miles

  • L. Ruth Express

    3.69 miles

  • Kwik Fill

    0.39 miles

  • Citgo

    0.53 miles

  • Trillium

    1.33 miles

  • Sunoco

    1.44 miles

  • Shell

    1.56 miles

  • Tesla Supercharger

    3.58 miles

  • Saint Vincent Parking Garage

    0.54 miles

  • Erie Veterans Medical Center Parking Garage

    1.05 miles

  • EMTA Parking Garage

    1.37 miles

  • East Erie Parking Garage

    1.52 miles

  • Erie Parking Garage

    1.55 miles

  • PNC Bank Parking Garage

    1.61 miles

  • Garage Q

    1.64 miles

  • Mercyhurst Parking Garage

    1.68 miles

  • East 8th & French Parking Garage

    1.72 miles

  • Red Roof PLUS+ & Suites Erie - Downtown

    1.08 miles

  • Avalon Hotel & Conference Center

    1.52 miles

  • Spencer House Bed & Breakfast

    1.60 miles

  • Victoria Inn - Erie

    1.89 miles

  • Cobblestone Hotel & Suites - Erie

    2.00 miles

  • Hampton Inn & Suites East Erie Bayfront

    2.24 miles

  • Sheraton Erie Bayfront Hotel

    2.33 miles

  • Courtyard Erie Bayfront

    2.33 miles

  • TownePlace Suites

    2.45 miles

  • Fairfield Inn Erie Millcreek Mall

    2.47 miles

  • Tops

    0.44 miles

  • Fresh Asian Mini Mart

    0.60 miles

  • Lake Erie International Market

    0.63 miles

  • Rippers

    0.78 miles

  • Erie Food Co-op

    0.88 miles

  • Larry's Central Market

    1.00 miles

  • City Fresh & Fast Mart

    1.01 miles

  • BFA Mart

    1.15 miles

  • Stanganelli's

    1.29 miles

  • Fadak International Food Market

    1.30 miles

Contact Listing Broker
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