1041 Penn Street

    Reading, PA 19601
    • $235,000
    • STATUS: Active
    • ON SITE: 5 days
    • ID#: 7232723
    New On Site 5 Days Ago
    UPDATED: 21 min ago
    $235,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,015
      SQFT
    • $39
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1900
    County:

    School Ratings & Info

    School District:
    Listing courtesy of Springer Realty Group.

    Description

    Attention investors interested in Reading City - Package Deal $535K (1039 Penn St. & 1041 Penn St. & 1042 Court St.) -! 6 unit, low-rise Victorian apartment building, fully leased. 6 Residential units (4-2Bed, 2-1Bed). $4,325 monthly income, $51,900 per year gross rents. Minus gross expenses: taxes ($2,365), Insurance ($1,673), Water/Sewer ($5,400), Electric ($980 Hallways & Parking lot), Trash ($396), that is only $901 a month! NOI is $3,424 per month or $41,088 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. Archetypal Victorian brick veneer with stone arch's and bands exterior. Original marble & tile foyer entrance. Some stained ornamental glass windows decorate the large apartments with modern kitchens and modern baths. Recent improvements: Parking lot milling/leveled up/rolling, Apt. 1-R 1st bathroom renovated (Double sink, vanity mirror), bathroom added with large shower stall, Closet added in bedroom, kitchen remodeled with new cabinets & backsplash. 2-F new glass-top electric stove. Property has been regularly maintained. Newer hot water heaters and newer electric. Off street parking in rear. Laundry-room with exterior entrance features 3 washers and 3 dryers (Coin operated). Entire property is code inspected and up-to-date. 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) -

    Monthly Payment Calculator



    The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Remax Preferred | Scott Kompa Group participates, and is provided by TREND through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Copyright 2018 TREND, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Data last updated 2018-08-16T22:56:25.993.
    www.scottkompa.com/homes/86467675

    1041 Penn Street Reading, PA 19601

    • Price: $235,000
    • Status: Active
    • Updated: 21 min ago
    • ID#: 7232723
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,015
    SQFT
    $39
    $/SQFT
    1900
    Built
    Neighborhood:
    None
    County:
    Berks
    Area:
    Reading City (10201)
    School District:
    Reading
    Property Description
    Attention investors interested in Reading City - Package Deal $535K (1039 Penn St. & 1041 Penn St. & 1042 Court St.) -! 6 unit, low-rise Victorian apartment building, fully leased. 6 Residential units (4-2Bed, 2-1Bed). $4,325 monthly income, $51,900 per year gross rents. Minus gross expenses: taxes ($2,365), Insurance ($1,673), Water/Sewer ($5,400), Electric ($980 Hallways & Parking lot), Trash ($396), that is only $901 a month! NOI is $3,424 per month or $41,088 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. Archetypal Victorian brick veneer with stone arch's and bands exterior. Original marble & tile foyer entrance. Some stained ornamental glass windows decorate the large apartments with modern kitchens and modern baths. Recent improvements: Parking lot milling/leveled up/rolling, Apt. 1-R 1st bathroom renovated (Double sink, vanity mirror), bathroom added with large shower stall, Closet added in bedroom, kitchen remodeled with new cabinets & backsplash. 2-F new glass-top electric stove. Property has been regularly maintained. Newer hot water heaters and newer electric. Off street parking in rear. Laundry-room with exterior entrance features 3 washers and 3 dryers (Coin operated). Entire property is code inspected and up-to-date. 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) -
    Exterior Features

    Building Facade Orientation South Exterior BrickStucco Exterior Amenities Pubtransnear Foundation Stone Foundation Location DowntownUrbanMiddlofblock Location Types None Lot Dimensions 40X184 Parking Lot ParkingStone ParkingPrivateOff Street Roads Boro/Township Roof Rubber Topography Level Water Front No Water Frontage 0

    Interior Features

    Bathrooms Three+ BathroomsPrivate Restrooms Floor Tile/BrickWood Handicap None Hot Water Natural Gas Interior Square Feet Source Listor Leasable Sq Ft 6015.0

    Property Features

    Annual Gross Expense 10812.0 Annual Gross Income 51900.0 Annual Lease Price 51900.0 Annual Lease Price Per Sq Ft 7.43 Building Or Business Apartmnt Bld Current Financing ConventionalSeller/PrivateAssumfinOtherfin Electric Service 200-300AmpelCircuit Breakers Land Only No Land Use Code 4200 Leased Units 6 Lot Number 9378 Min Lease 12 Property Option Sale Sewer Septic Public Sewer Tax Year 2018 Tenancy 1 Yr Or Less3 Yr Or Less5 Yr Or LessOption to RenewVarious Leases Total Assessment 48400.0 Total Taxes 2095.0 Water Public Zoning Code R-3



    The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Remax Preferred | Scott Kompa Group participates, and is provided by TREND through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Copyright 2018 TREND, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Data last updated 2018-08-16T22:56:25.993.
     
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    408 Swedesboro Rd
    Mullica Hill NJ, 08062
    Listing courtesy of Springer Realty Group.