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Key Details
Sold Price $139,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 1,371 sqft
Price per Sqft $101
MLS Listing ID PABK377188
Sold Date 07/16/21
Style Converted Dwelling
HOA Y/N N
Abv Grd Liv Area 1,371
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $1,316
Tax Year 2020
Lot Size 1,307 Sqft
Acres 0.03
Property Description
Fully occupied, well kept, and professionally managed 3 unit investment opportunity! Located in a beautiful area in Northeast Reading near Albright College that is seeing substantial appreciation. Gross operating income= $22,500, Net operating income= $14,637.12, Cap rate 10.5% (Pro forma, see APOD document). First floor unit is paying $600 (lease ends 3/31/22), Second floor front is paying $825 (lease ends 4/30/21), Rear second floor tenant is paying $450 (monthly lease). Second floor front unit was recently renovated with an increased rental rate. Excellent long term investment/value add opportunity for any first time or seasoned investor looking to add to their portfolio.
Location
State PA
County Berks
Area Reading City (10201)
Zoning RS
Rooms
Basement Outside Entrance, Poured Concrete
Interior
Interior Features Carpet
Hot Water Natural Gas
Heating Hot Water & Baseboard - Electric
Cooling Window Unit(s)
Flooring Laminated, Vinyl
Equipment Microwave, Oven - Self Cleaning, Water Heater
Fireplace N
Window Features Double Pane
Appliance Microwave, Oven - Self Cleaning, Water Heater
Heat Source Electric
Exterior
Exterior Feature Balcony
Waterfront N
Water Access N
View City
Roof Type Shingle
Street Surface Access - On Grade
Accessibility 2+ Access Exits
Porch Balcony
Road Frontage Public
Parking Type On Street
Garage N
Building
Lot Description Rear Yard
Sewer Public Septic
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade
Structure Type Dry Wall
New Construction N
Schools
Middle Schools Northeast
High Schools Reading Senior
School District Reading
Others
Tax ID 17-5317-21-19-0013
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Cash,Conventional,FHA
Special Listing Condition Standard
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Bought with Brett Martin Peters Jr. • Sable Commercial Realty