Joanne DeFlavis - Coldwell Banker Hearthside


Attention investors interested in Reading City - Package Deal $535K ((1039 Penn St. & 1041 Penn St. & 1042 Court St.) -! 6-unit, low-rise apartment building, fully leased. 6 Residential units (2-2Bed 3-1Bed 1-studio). $3,875 monthly income, $46,500 per year gross rents. Minus gross expenses: taxes ($2,270), Insurance ($1,889), Water/Sewer ($2040), Electric ($360), Trash ($396), only $579 a month! NOI is $3,296 per month or $39,552 per year! Each unit has separate electric meters paid by tenants. Annual rental license fee ($55) & rental permit ($50 per unit per year). Tenants pay natural gas hot water and electric baseboard heat. Full basement with plenty of room for storage. Cash Cow, Turn Key. Beautiful stone exterior, entrance & front porch with classic, original tile foyer. Amazing wood-work throughout including lobby & staircases. Large apartments with modern kitchens and modern baths. Newer hot water heaters and newer electric. Off street parking in rear. Recent improvements: Parking lot milling/leveled up/rolling, Apt. 1-R bedroom/bathroom/kitchen upgrade. Code inspected. Great exposure to Penn street. Annual other expense is trash. Owner is ready to enjoy retirement, this is a Great investment. - Package Deal $535K (MLS# 1002202524, 1002202428, 1002202826, 1002202706, 1002202864, 1002202904) ?


Days On Site6


Market Activity 19601

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Area Information

Zip Code19601
AreaReading City (10201)
Listing VS Median (in 19601)
low | high
100% of Average
On Site:
low | high
100% of Average
Listing Updated: 08/16/2018
MLS Number: 1002202524
Listing Provided By:
Gregory Martire  of  Springer Realty Group

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