Spencer House Bed and Breakfast
Price
$1,050,000
Rooms
6
Property Type
Bed & Breakfast
Location Type
historic district, city
Year Built
1876
Owners Quarters
Yes
Property Details
Spencer House Bed & Breakfast is an historic 1876 Victorian mansion located in the heart of Erie, Pa’s historic “Millionaires Row.”
The B&B has many of the fine features of the original building, with elegant wood paneling and details throughout. The Inn presents a grand first impression, with common rooms on both sides and a wooden staircase leading to the guest rooms on the second and third floors. In addition to the space currently used as Owners’ Quarters on the first floor, there is also a separate 2 story garage with an additional apartment unit upstairs that is currently utilized as a long-term rental and provides an additional revenue stream. Since off-street parking is also available on site, the streetscape is open and well preserved since this was the wealthy section of the city. The Inn’s business is strong and growing – latest figures indicated an increase of 13% Y/Y revenue growth (2023 – 2024), with an astonishing 47% increase in net profit during that same time period.
Currently the only Bed and Breakfast in the city, the Spencer House presents a unique business opportunity with significant upside potential.
What's Special
- Walk to Restaurants
- Historic District
- Off Street Parking
Broker/Consultant Information
Marilyn Bushnell | marilyn@marilynbushnell.com | 410-422-0013 | Website
Chuck Anderson | chuck@inns.forsale | 770.841.1410 | Website
Exterior Photos
Public Area Photos
Room Photos
Owner's Quarters
The owners’ quarters are located on the first floor with a private entrance leading in from the back parking lot. They include a bedroom, bathroom, and private living room.
The kitchen and laundry room are adjacent to the quarters (which are small and designed for either a single or couple). There is also a large well-maintained basement for storage, maintenance and hobbies.
Why Current Owners Love Living in the Area
Erie provides the convenience of living in the city to include great restaurant options, access to the arts such as theatre and museums, fun festivals throughout the year, close to wine country and fantastic event venues for everything from sports to music to comedy to off broadway shows. But even though its the fifth largest city in PA. it feels more like a town in how the people are generally friendly and helpful. Of course living 10 minutes away from one of the top ten most visited parks in the country with access to beaches, numerous walking trails and access to the lake is the icing on the cake and is a boon for us to decompress.
It is also a city that is moving in a positive direction with lots of investment in the downtown and the bayfront. If we didn’t want to move closer to family, we would definitely be staying, since we believe both Erie and Spencer House have very bright futures. We will miss being a part of that, as well as having Presque Isle State Park just down the road.
Presque Isle Park and being a city that feels more like a town were both big factors in our decision to buy Spencer House in 2018.
Location Details
Region:
Mid-Atlantic
Address: 519 W 6th St, Erie, PA 16507
The surrounding neighborhood consists of larger period homes that have been converted to professional offices or other types of dwelling or business facilities.
Their location is close to Presque Isle State Park (which generates an average of about 4 million visitors to the area per year), downtown Erie, Gannon University, Erie Insurance Arena, the Bayfront Convention Center, the historic Warner Theater and Erie’s best local restaurants.
