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1568 N 10TH ST Reading, PA 19604
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Key Details
Sold Price $170,000
Property Type Multi-Family
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,130 sqft
Price per Sqft $79
Subdivision Northeast Reading
MLS Listing ID PABK378532
Sold Date 07/16/21
Style Victorian
HOA Y/N N
Abv Grd Liv Area 2,130
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $2,129
Tax Year 2020
Lot Size 1,307 Sqft
Acres 0.03
Lot Dimensions 0.00 x 0.00
Property Description
Very large Victorian upper NE Reading 3 unit end of row near Albright College fully rented and in very good condition overall with paved parking for 2 cars. The owner pays for the gas heat, gas hot water, water, sewer, trash & recycling. The heating unit is a modern, high efficiency Bosch wall mounted gas boiler installed 11-15/2013. The hot water heater is a high efficiency power vented single gas water heater for the entire building and paid for by the owner installed around 2016. Tenants pay for their electric. The electric is updated and has a 200 AMP main service with 3 - 100 AMP panels for the units. The main roofs are metal, the mansard roof is asphalt shingle. Unit 1 is the 28x12 storefront with 2 rooms, display window, half bath, laundry tub, rented for $550 a month by a 4 year tenant. Unit 2 is the 1st & 2nd floor rear and has 3 rooms, 1 very large BR on the 2nd floor, living room, kitchen, bath, electric cooking, 1 parking space, rented for $700 a month by a 1 year tenant. Unit 3 is the 2nd & 3rd floor front and has 4 rooms, 2 BRS on the 3rd floor, living room, kitchen, bath, electric cooking, rented for $800 a month by a 3 year tenant. The basement unit is being occupied by a family member and is not considered an approved unit but is rented for $375 a month. This rent is not factored into the gross income. Total income: $24,600. Total expenses: $8962. NOI: 15,638. CAP Rate: 9%. Expenses breakdown: Total Gas: $2616.06. WSTR: $3,177. Taxes: $2,129. Insurance: $940. Permits: $100. Solid investment opportunity with plenty of room to increase the rents, income and CAP Rate and is perfectly located within close proximity to schools, medical, shopping and major roads. This is definitely one to have in your investment portfolio! City Of Reading Code inspected and compliant on 3/11/20.
Location
State PA
County Berks
Area Reading City (10201)
Zoning R3
Rooms
Basement Interior Access, Outside Entrance, Improved, Partially Finished, Rear Entrance, Side Entrance, Walkout Stairs, Unfinished, Heated
Interior
Interior Features Stall Shower, Walk-in Closet(s)
Hot Water Natural Gas
Heating Hot Water, Radiant
Cooling Window Unit(s), Wall Unit
Flooring Vinyl, Laminated
Equipment Exhaust Fan, Oven/Range - Electric, Refrigerator, Water Heater
Fireplace N
Appliance Exhaust Fan, Oven/Range - Electric, Refrigerator, Water Heater
Heat Source Natural Gas
Exterior
Exterior Feature Patio(s)
Garage Spaces 2.0
Utilities Available Above Ground, Electric Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Waterfront N
Water Access N
Roof Type Asphalt,Shingle,Metal
Accessibility 2+ Access Exits
Porch Patio(s)
Parking Type Off Street
Total Parking Spaces 2
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Victorian
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Reading
Others
Tax ID 17-5317-21-08-4981
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Jose M Candelaria • RE/MAX Of Reading