$475,000

6-Unit, 7,657± SF multi-family investment property. Fully occupied. Generates $59,520 in annual rental income with a NOI of $42,405. Offered at a 9% cap rate with upside potential. Well-maintained 3-story brick building built circa 1899 - known as the Anastasia Mansion. On 0.31± acres with paved off-street parking for ±15. Just 2.5 blocks from Gannon University & in proximity to the Downtown Erie business, arts & entertainment district. Zoned C-2 allowing for multiple uses. The offering is comprised of six 1 bed/1 bath apartments with 1 apartment per level on the 1st, 2nd and lower levels & 3 units on the 3rd floor. The first floor & second floor units are 2,000± SF with private entrances, ornate woodwork & stained glass windows. The third & lower level suites share a side entrance. First floor unit includes in-suite laundry. Shared laundry facilities in basement. Multiple updates: 220 V electric service, wet sprinkler system (lower level), public utilities & landscaped courtyard.