14 W LANCASTER AVE Reading, PA 19607

Governor Mifflin Schools Excellent investment opportunity! Shillington Borough detached building with 9 total units - 8 residential and 1 commercial storefront unit. Rear parking lot for 10 cars. Unit 1 - Storefront is 24x18 and approximately 432 SQFT currently vacant, projected rent $700 a month. Unit 2A - 1st fl front is a studio unit with HW floor, electric baseboard heat & cooking, owner paid gas hot water, rented for $576 a month on a M/M basis. Unit 3C - 1st fl middle has 3 rooms, 1 BR electric baseboard heat & cooking, owner paid gas hot water heat, rented for $665 a month on a M/M to basis. Unit 4D - 1st fl rear is a studio unit, r rooms, electric baseboard heat & cooking, owner paid gas hot water, rented for $641 a month on a M/M basis. Unit 5F - 2nd fl front has 5 rooms, 3 BRS - 2 private, all electric tenant paid, rented for $895 a month on a M/M basis. Unit 6G - 3rd fl front has 3 rooms, 1 private BR, all electric tenant paid, currently vacant, but has been rented for $750 a month with starting on 11/1/20. Unit 7H - 3rd fl rear has 3 rooms, 1 Private BR, all electric tenant paid, rented for $648 a month on a M/M basis. Unit 8J - 2nd fl rear has 3 rooms, 1 BR, electric baseboard heat & cooking, owner paid gas hot water heat, rented for $635 a month on a M/M basis. Unit 9K - 3rd fl rear has 3 rooms, 1 BR, all electric tenant paid, rented for $655 a month on a M/M basis. 12 W. Lancaster Ave lot parking rental: $50 a month. Total income: 74,148. Total Expenses: $17,982. Net Income: $56,166. Cap Rate: 10%. Expenses breakdown: Taxes: $7,482. Insurance: $3,500. W/S: $2,950. Trash/Recycling: $1,200. Electric: $1,900. Gas for hot water: $950. All long term tenants. 5-6 coin operated commercial laundry machines remain in AS IS condition. Laundry Income not factored into the total income. Parking lot right of way for 12 W. Lancaster Ave. Fantastic, stable & rare investment opportunity in a great location and in excellent condition throughout! The electrical baseboard heaters and water heaters have all been updated within the past 10-15 year and are in excellent condition! Each unit has upgraded electric with breaker panels and plumbing has been replaced as kitchens were updated. A must for the serious investor's portfolio!