$950,000
$50K PRICE DROP

345 W 8th St Erie, PA 16502

West Bayfront Neighborhood

Estimated payment $6,242/month

Total Views 15,496
25 Beds
17 Baths
18,085 Sq Ft
$53 Price per Sq Ft

About This Home

Exceptional opportunity to own 17 units across four adjacent properties in the heart of Erie’s West Bayfront Neighborhood! Be part of the continued revitalization taking place along this West 8th Street Corridor. This well-positioned package is being offered at a 10% CAP RATE, delivering strong cash flow and ROI from day one. Extensive capital improvements have been completed on properties under the current ownership—See the included improvement list for full details. In addition to the residential units, this property includes 7 garage units currently leased for storage, providing an additional income stream. A large rear lot offers off-street parking for tenants. Situated near Gannon University, UPMC Hamot, Erie Insurance, Saint Vincent Hospital, State Street, Lake Erie, and public transportation, this property benefits from strong tenant demand and accessibility. With a proven rental history and long-term growth potential, this is a chance to capitalize on a high-performing asset!

Listing Agent

Jake Bowers

The Bowers Group LLC License #RM426027 Listed on: 06/09/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,703

Year Built

  • Built in 1909

Parking

  • 7 Car Detached Garage

Home Design

  • 18,085 Sq Ft Home
  • Brick Exterior Construction
  • Aluminum Siding

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 17 Bathrooms

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Assessor Parcel Number 16-030-020.0-219.00

Community Details

Overview

  • 17 Units

Building Details

  • Insurance Expense $7,940
  • Maintenance Expense $4,250
  • Water Sewer Expense $12,961

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,703

Year Built

Built in 1909

Lot Details

0

Parking

7

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: South Side Of West 8th Street Between Chestnut & Myrtle Street
  • Road Surface Type: Paved
  • Professional Management Expense: 16531.0
  • Co List Office Phone: (814) 874-4000
  • MLS Status: Active
  • Architectural Style: See Remarks
  • Living Area: 18085.0
  • Year Built Details: Actual
  • Year Built: 1909
  • Tax Year: 2025
  • Special Features: None
  • Year Built: 1909

Interior Features

  • Total Bedrooms: 25

Exterior Features

  • Construction Type: Aluminum Siding, Brick

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 7.0
  • Attached Garage: Yes
  • Parking Features: Detached, Garage

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air, Gas
  • HeatingYN: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Fee Information

  • Insurance Expense: 7940.0
  • Annual Water Sewer Expense: 12961.0

Schools

  • Junior High Dist: City-Erie

Lot Info

  • Parcel Number: 16-030-020.0-219.00
  • Zoning: RLB
  • Lot Dimensions: 0x0x0x0
  • ResoLotSizeUnits: Acres
  • Zoning Description: C-1

Multi Family

  • Number Of Units In Community: 17
  • Maintenance Expense: 4250.0
  • Resident Manager Expense: 16531.0

Tax Info

  • Tax Annual Amount: 14703.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/14/2025 07/14/25 Price Changed $950,000 -5.0% $53 / Sq Ft
06/09/2025 06/09/25 For Sale $1,000,000 -- $55 / Sq Ft
Source: Greater Erie Board of REALTORS®

Source: Greater Erie Board of REALTORS®

MLS Number: 184213

Greater Erie Board of REALTORS®
Pennsylvania Erie County Erie 16502 West Bayfront

345 W 8th St, Erie, PA

This home is located at 345 W 8th St, Erie, PA 16502 and is currently priced at $950,000, approximately $52 per square foot. This property was built in 1909. 345 W 8th St is a home located in Erie County with nearby schools including Pfeiffer-Burleigh Elementary School, East Middle School, and Erie High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Greater Erie Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Listing Agent
Jake Bowers
Section Image
The Bowers Group LLC
(814) 523-5153