502/506 STATE Street Erie, PA $ 1,899,900
502/506 STATE Street
$ 1,899,900
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502/506 STATE Street

Erie, PA, 16501
$ 1,899,900
Baths6.0 Sq 15,948

Monthly Estimate*

$ 11,698

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Studio

Single Family Home for sale in Erie, PA

for $1,899,900 with 6 full baths. This 15,948 square foot home was built in 1858 on a lot size of 0.1527.

Positioned in the heart of downtown Erie, this exceptional mixed-use property presents a rare opportunity to own a fully revitalized asset rich in character and income potential. Registered in the National Registry of Historic Buildings, the property offers access to valuable grants and tax incentives, enhancing long-term returns. Thoughtfully redeveloped in 2021, the building blends historic charm with modern updates throughout. The property features six total units, including two established retail tenants on the first floor, providing immediate cash flow and strong street presence. Upper levels offer move-in ready space ideal for office or residential use, along with additional square footage ready for build-out—creating significant upside for added value. Ideal for investors or owner-operators seeking a turnkey opportunity with expansion potential in a prime downtown location.

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Single Family Active

Price

$ 1,899,900

Bedrooms

Studio

Full Bath

6

Property Type

Single Family

Taxes

$ 50,431

Style

Lot Size

0.1527

Year Built

1858

Town/City

Erie

County/Region

Erie

MLS | Web ID

190226

Features
General
Sewer PublicSewer
Possession CloseOfEscrow SubjectToTenantRights
Construction Materials Brick Block
Security Deposit 50000
Township Erie
Property Subtype MultiFamily
Tax Year 2026
County Erie
Property Type ResidentialIncome
Status Active
Directions On the Southwest corner of 5th and State Streets
City Erie
Zoning Description C-3
MLS Area 2 - Erie Northwest
Lot Size Units Acres
Tax Annual Amount 50431
Standard Status Active
Tax Assessed Value 1251100
Heating ForcedAir Gas
Cooling CentralAir
High School District City-Erie
Middle/Junior School District City-Erie
Elementary School District City-Erie
Year Built 1858
Property Condition Resale
Roof Rubber
Garage Spaces 0
Architectural Style ThreeStory
Levels ThreeOrMore
Gross Income 0
Net Operating Income 0
Number Of Units Total 0
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Interior
Air Conditioning Y/N true
Heating Y/N true
Total Baths 6
Total Bedrooms 0
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Exterior
Water Source Public
Lot Size Area 0.1527
Building Area Total 15948
Lot Dimensions 37x103x0x0
Lot Size Acres 0.1527
Road Surface Type Paved
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* Excluded Features
List By
Agresti Real Estate

Broker

jake@tryagresti.com

Email

Affordability Calculator

$15,901
Per Month
74%
26%
0%
Monthly Principal & Interest
$11,698
Monthly Property Taxes
$4,203
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
2358928 Elementary School
2358969 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/2/2026$1,899,900 Listed Price

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502/506 STATE Street, Erie, PA, 16501 is a Single Family Home for sale at $1,899,900 with 15,948 sqft and a lot size of 0.1527. 502/506 STATE Street is a studio with 6.0 baths and was built in 1858. The property's zip code is 16501 which is in Erie, PA