4845 W LAKE Road Erie, PA $ 425,000
4845 W LAKE Road
$ 425,000
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4845 W LAKE Road

Erie, PA, 16505
$ 425,000
Baths4.0 Sq 6,800

Monthly Estimate*

$ 2,651

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Studio

Multi-Family Home for sale in Erie, PA

for $425,000 with 4 full baths. This 6,800 square foot home was built in 1974 on a lot size of 0.5.

Located along the sought-after Route 5 corridor in Northwest Millcreek Township, this 6,800± SF commercial property offers prime visibility, strong traffic exposure, and multiple income streams on a half-acre lot. The building includes 7 leased units plus an additional 8th unit previously owner-occupied, supported by 4 bathrooms and about 30 parking spaces in front and rear lots. A local church anchors the property, with additional suites leased to established businesses—creating stable, diversified rental income with room for growth through lease adjustments and full occupancy. Investors will value the reliable cash flow and tenant mix, while owner-users can offset occupancy costs with built-in income. With its premier location, flexible layout, and strong rental base, this is a turnkey investment or an ideal owner-occupied opportunity positioned for long-term upside.

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Multi-Family Pending

Price

$ 425,000

Bedrooms

Studio

Full Bath

4

Property Type

Multi-Family

Taxes

$ 8,831

Style

Lot Size

0.5

Year Built

1974

Town/City

Erie

County/Region

Erie

MLS | Web ID

188088

Features
General
Sewer Public Sewer
Possession Subject To Tenant Rights
Construction Materials Block Cedar
Security Deposit 15000
Township Millcreek Township
Property Subtype Multi Family
Tax Year 2025
County Erie
Property Type Residential Income
Status Pending
Directions W. 12th St. (Route 5) west of Asbury between Woodside Dr. and Gorman Dr.
City Erie
Zoning Description C-2
MLS Area 5 - Millcreek N of W26
Lot Size Units Acres
Tax Annual Amount 8831
Standard Status Pending
Tax Assessed Value 315900
Heating Forced Air Gas
Cooling Central Air
High School District Millcreek
Middle/Junior School District Millcreek
Elementary School District Millcreek
Year Built 1974
Year Built Details Actual
Virtual Tour https://my.matterport.com/show/?m=8RQaKfu5Hi8
Roof Composition
Garage Spaces 0
Architectural Style One Story
Stories Count 1
Levels One
Gross Income 48876
Net Operating Income 30445
Insurance Expense 2280
Number Of Units Total 7
Water Sewer Expense 2247
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Interior
Air Conditioning Y/N true
Heating Y/N true
Total Baths 4
Total Bedrooms 0
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Exterior
Water Source Public
Lot Size Area 0.5
Building Area Total 6800
Lot Dimensions 104x228x0x0
Lot Size Acres 0.5
Total Parking 30
Road Surface Type Paved
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* Excluded Features
List By
Agresti Real Estate

Broker

jake@tryagresti.com

Email

Affordability Calculator

$3,387
Per Month
78%
22%
0%
Monthly Principal & Interest
$2,651
Monthly Property Taxes
$736
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2358936 Elementary School
2358943 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/6/2025$425,000 Listed Price

Map


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4845 W LAKE Road, Erie, PA, 16505 is a Multi-Family Home for sale at $425,000 with 6,800 sqft and a lot size of 0.5. 4845 W LAKE Road is a studio with 4.0 baths and was built in 1974. The property's zip code is 16505 which is in Erie, PA