14 W 26th St Erie, PA 16508
Little Italy NeighborhoodEstimated payment $10,173/month
About This Home
Seize this rare opportunity to add Midtown Apartments to your portfolio—a 35 unit complex in the heart of the Federal Hill Neighborhood! Comprising of 31 residential units and 4 commercial spaces, plus coin-operated laundry, this property offers multiple streams of income. Offered at a 10.2% CAP RATE, the asset delivers stable cash flow with all units secured by long-term leases. Numerous interior and exterior improvements have been completed in recent years—See capital improvement list for further details (including exterior work that is currently underway). The recently paved parking lot provides ample off-street parking for tenants. Positioned at a centrally-located intersection, this property is within close proximity to Gannon University, UPMC Hamot, Erie Insurance, Saint Vincent Hospital, State Street, Lake Erie, and public transportation, maximizing accessibility. Don’t miss the chance to invest in this asset with strong current returns and even more upside potential!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $23,365
Year Built
- Built in 1894
Lot Details
- 0.69 Acre Lot
Home Design
- 29,192 Sq Ft Home
- Brick Exterior Construction
Bedrooms and Bathrooms
- 27 Bedrooms
- 35 Bathrooms
Utilities
- No Cooling
- Heating System Uses Gas
- Hot Water Heating System
Listing and Financial Details
- Assessor Parcel Number 18-050-003.0-230.00
Community Details
Overview
- 35 Units
Building Details
- Insurance Expense $11,391
- Maintenance Expense $15,300
- Water Sewer Expense $16,190
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,271 | $82,732 | $20,900 | $61,832 |
| 2024 | $3,201 | $82,732 | $20,900 | $61,832 |
| 2023 | $3,110 | $82,732 | $20,900 | $61,832 |
| 2022 | $3,044 | $82,732 | $20,900 | $61,832 |
| 2021 | $3,002 | $82,732 | $20,900 | $61,832 |
| 2020 | $2,981 | $82,732 | $20,900 | $61,832 |
| 2019 | $2,069 | $60,600 | $20,900 | $39,700 |
| 2018 | $2,046 | $60,600 | $20,900 | $39,700 |
| 2017 | $2,041 | $60,600 | $20,900 | $39,700 |
| 2016 | $2,291 | $60,600 | $20,900 | $39,700 |
| 2015 | $2,276 | $60,600 | $20,900 | $39,700 |
| 2014 | $1,964 | $60,600 | $20,900 | $39,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/09/2025 06/09/25 | For Sale | $1,550,000 | -- | $53 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $475,000 | None Available | |
| Sheriffs Deed | $54,135 | None Available | |
| Deed | $587,000 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $701,743 | New Conventional | |
| Closed | $409,600 | Purchase Money Mortgage | |
| Previous Owner | $440,250 | Purchase Money Mortgage |
Source: Greater Erie Board of REALTORS®
MLS Number: 184218
APN: 18-050-003.0-230.00
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