Nice, spacious Colonial brick 3 Unit on the edge of the Callowhill Historic District and perfectly situated in a downtown location with all that downtown Reading has to offer and with quick access to major roads, shopping, schools and hospitals! Unit 1 is located on the 1st floor front and has 3 rooms, 1 BR, living room, kitchen, bath, basement access, hardwood floor, has a 1 car parking space for an additional $40 a month, all electric, electric cooking, electric baseboard heat all paid for by the tenant, rented for $550 a month by a family friend for 1 year since 9/02/20, very nice apartment. Unit 2 is located on the 2nd floor and has 5 rooms, 3 private BRS, living room, kitchen, bath, covered rear balcony, ceramic tiled bath & kitchen, electric cooking and baseboard heat all paid for by the tenant, currently vacant but was previously rented for $800 a month. The owner may rent this unit while in the process of being sold. Unit 3 is located in the first floor rear and is an efficiency unit with 2 rooms, BR/Living room, bath, there is no real kitchen, tenant has a small fridge and an electric hotplate used for cooking, the flooring is ceramic tile, electric baseboard heat, owner pays first $70 of the monthly electric bill - tenant pays the rest, rented for $400 a month on a year to year basis since 11/1/20. There is off street parking for 2 plus cars. All brick exterior with metal roofs. 200 AMP electric. Replacement windows. Owner pays for the electric hot water. Only one 40 gallon water heater for the 3 units. Owners also pays for WSTR. Total Income: $22,080. Total expenses: $6,720. NOI: $15,360. CAP Rate: 11%. Expenses breakdown: WSTR: $3,900. Owner's Electric: $840. Insurance: $700. Taxes: $1,180. Permits: $100. Parking income is included in the total income. The building is in overall good condition! Excellent investment opportunity with room to increase the rents, income and CAP Rate and a must for your investment portfolio!
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Courtesy of: RE/MAX Of Reading Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 3rd August, 2021 3:52 PM
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