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Key Details
Sold Price $650,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 5,500 sqft
Price per Sqft $118
MLS Listing ID PABK2052178
Sold Date 03/11/25
Style Colonial
Abv Grd Liv Area 5,500
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $4,001
Tax Year 2024
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 0.00 x 0.00
Property Sub-Type Other
Property Description
CALLING INVESTORS! This is a 10 CAP property with room to grow! You can be cash positive FIRST YEAR! The return on this property is significant with a superior return on investment. With the opportunity to increase an already exceptional rent roll.
This 6 unit building features many long term tenants and has a solid rental history. 1st flr is a 5bd full floor unit that will be increasing its rent to $2224 in January. Unit 2E (vacant) - $1200 (HUD approved $1452 also beginning January). Unit 2W - $1200. Unit 3E - $700. Unit 3W - $1200. Unit 4R - $1000.
Total Rent Roll as of January 2025 - $7524 ($7776 with HUD tenant).
Total 2025 Rental Income - $93.312
Total Expenses - $25,975. (incl. taxes, insurance, pest, water, sewer, trash, heat, house electric)
Net - $67,337
Landlord currently pays for water, sewer, trash, and heat. Units are all separately metered for electric. Separate water meters have been added to most units to allow for tenants to pay their own water but current owner has not utilized them.
All leases are being signed or have been transitioned to month to month for a smooth transition to the new owner(s). Showings are limited and will be bundled when possible to limit tenant inconveniences.
DO NOT VISIT THE PROPERTY WITHOUT AUTHORIZATION! Please respect the privacy of the current tenants.
Location
State PA
County Berks
Area Reading City (10201)
Zoning MIX
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Roof Type Shingle,Flat
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade
New Construction N
Schools
High Schools Reading
School District Reading
Others
Tax ID 16-5316-31-38-3243
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional, Negotiable
Listing Terms Cash, Conventional, Negotiable
Financing Cash,Conventional,Negotiable
Special Listing Condition Standard
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Bought with Jose Madrigal • Pagoda Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "