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    14 W Lancaster Avenue

    READING, PA 19607
    • $550,000
    • STATUS: Active
    • ON SITE: 8 days
    • ID#: PABK365686
    UPDATED: 22 min ago
    $550,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1900
    County:

    School Ratings & Info

    School District:

    Description

    Governor Mifflin Schools Excellent investment opportunity! Shillington Borough detached building with 9 total units - 8 residential and 1 commercial storefront unit. Rear parking lot for 10 cars. Unit 1 - Storefront is 24x18 and approximately 432 SQFT currently vacant, projected rent $700 a month. Unit 2A - 1st fl front is a studio unit with HW floor, electric baseboard heat & cooking, owner paid gas hot water, rented for $576 a month on a M/M basis. Unit 3C - 1st fl middle has 3 rooms, 1 BR,electric baseboard heat & cooking, owner paid gas hot water heat, rented for $665 a month on a M/M to basis. Unit 4D - 1st fl rear is a studio unit, r rooms, electric baseboard heat & cooking, owner paid gas hot water, rented for $641 a month on a M/M basis. Unit 5F - 2nd fl front has 5 rooms, 3 BRS - 2 private, all electric tenant paid, rented for $895 a month on a M/M basis. Unit 6G - 3rd fl front has 3 rooms, 1 private BR, all electric tenant paid, currently vacant, but has been rented for $750 a month with starting on 11/1/20. Unit 7H - 3rd fl rear has 3 rooms, 1 Private BR, all electric tenant paid, rented for $648 a month on a M/M basis. Unit 8J - 2nd fl rear has 3 rooms, 1 BR, electric baseboard heat & cooking, owner paid gas hot water heat, rented for $635 a month on a M/M basis. Unit 9K - 3rd fl rear has 3 rooms, 1 BR, all electric tenant paid, rented for $655 a month on a M/M basis. 12 W. Lancaster Ave lot parking rental: $50 a month. Total income: 74,148. Total Expenses: $17,982. Net Income: $56,166. Cap Rate: 10%. Expenses breakdown: Taxes: $7,482. Insurance: $3,500. W/S: $2,950. Trash/Recycling: $1,200. Electric: $1,900. Gas for hot water: $950. All long term tenants. 5 coin operated commercial laundry machines remain in AS IS condition. Laundry Income not factored into the total income. Parking lot right of way for 12 W. Lancaster Ave. Fantastic, stable & rare investment opportunity in a great location! A must for the serious investor's portfolio!

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Ramus Realty Group. 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. Data last updated: 2020-10-24T16:51:23.51.
    www.ramusrealty.com/homes/111064711
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    14 W Lancaster Avenue READING, PA 19607

    • Price: $550,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: PABK365686
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    1900
    Built
    Neighborhood:
    Shillington Boro (10277)
    County:
    Berks
    Area:
    Shillington Boro (10277)
    School District:
    Governor Mifflin
    Property Description
    Governor Mifflin Schools Excellent investment opportunity! Shillington Borough detached building with 9 total units - 8 residential and 1 commercial storefront unit. Rear parking lot for 10 cars. Unit 1 - Storefront is 24x18 and approximately 432 SQFT currently vacant, projected rent $700 a month. Unit 2A - 1st fl front is a studio unit with HW floor, electric baseboard heat & cooking, owner paid gas hot water, rented for $576 a month on a M/M basis. Unit 3C - 1st fl middle has 3 rooms, 1 BR,electric baseboard heat & cooking, owner paid gas hot water heat, rented for $665 a month on a M/M to basis. Unit 4D - 1st fl rear is a studio unit, r rooms, electric baseboard heat & cooking, owner paid gas hot water, rented for $641 a month on a M/M basis. Unit 5F - 2nd fl front has 5 rooms, 3 BRS - 2 private, all electric tenant paid, rented for $895 a month on a M/M basis. Unit 6G - 3rd fl front has 3 rooms, 1 private BR, all electric tenant paid, currently vacant, but has been rented for $750 a month with starting on 11/1/20. Unit 7H - 3rd fl rear has 3 rooms, 1 Private BR, all electric tenant paid, rented for $648 a month on a M/M basis. Unit 8J - 2nd fl rear has 3 rooms, 1 BR, electric baseboard heat & cooking, owner paid gas hot water heat, rented for $635 a month on a M/M basis. Unit 9K - 3rd fl rear has 3 rooms, 1 BR, all electric tenant paid, rented for $655 a month on a M/M basis. 12 W. Lancaster Ave lot parking rental: $50 a month. Total income: 74,148. Total Expenses: $17,982. Net Income: $56,166. Cap Rate: 10%. Expenses breakdown: Taxes: $7,482. Insurance: $3,500. W/S: $2,950. Trash/Recycling: $1,200. Electric: $1,900. Gas for hot water: $950. All long term tenants. 5 coin operated commercial laundry machines remain in AS IS condition. Laundry Income not factored into the total income. Parking lot right of way for 12 W. Lancaster Ave. Fantastic, stable & rare investment opportunity in a great location! A must for the serious investor's portfolio!
    Exterior Features

    Construction Materials Mixed Garage YN No Parking Features Private Parking Types Parking Lot Property Condition Good Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 5000.00 Cooling Window Unit(S) Heating Baseboard - Electric Heating YN Yes Inclusions 8 Range/Ovens8 Refrigerators5 Coin Operated Commercial Washers & Dryers All As IS. Net Square Feet 5000.00

    Property Features

    Acceptable Financing CashConventional Accessibility Features 2+ Access Exits Annual Gross Expense 74148.00 Assessment Year 2020 Association YN No Building Permits On Hand Business Type Apartment BuildingFlexOther/General RetailProfessional Central Air YN No Cooling Fuel Electric Cross Street S. Miller Street Electric Circuit Breakers200+ Amp Service Electric Expense 1900.00 Foundation Details Brick/MortarConcrete Perimeter Gross Income 74148.00 Heating Fuel Electric Historic YN No Hot Water Natural GasElectricMulti-Tank Incorporated City Name Shillington Boro Insurance Expense 3500.00 Lease Considered YN No Navigable Water YN N Net Operating Income 56166.00 New Construction YN No Number Of Units Total 9 Operating Expense 17982.00 Operating Expense Includes Insurance Original MLSNumber 304357963276 Other Expense 2950.00 Owner Pays Advertising/Licenses And PermitsCommon Area MaintenanceGasInsuranceLawn/Shrub CareManagementRepairsSewerSewer MaintenanceSnow RemovalTaxes - Real EstateTrash CollectionWater Ownership Interest Fee Simple Possession SettlementSubject To Existing Lease Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 7482.00 Tax Assessment Amount 172400.00 Tax Lot 6283 Total Actual Rent 74148.00 Trash Expense 1200.00 Utilities Above Ground Vacation Rental YN No Water Source Public Zoning Commercial

    Listing courtesy of Re/Max Of Reading.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Ramus Realty Group. 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. Data last updated: 2020-10-24T16:51:23.51.
     
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    2880 Pottsville Minersville Highway, Suite 144
    Pottsville PA, 17954