$649,999
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1500 Perkiomen Avenue Reading, PA 19602 Municipality: Reading City
Multi-Family
Residence
Beds
Baths
5,500
Sq. Ft.
0.09
Acre
Lot
Property Activity
Time on Site
days
Days on Market
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CALLING INVESTORS! This is a 10 CAP property with room to grow! You can be cash positive FIRST YEAR! The return on this property is significant with a superior return on investment. With the opportunity to increase an already exceptional rent roll. This 6 unit building features many long term ...tenants and has a solid rental history. 1st flr is a 5bd full floor unit that will be increasing its rent to $2224 in January. Unit 2E (vacant) - $1200 (HUD approved $1452 also beginning January). Unit 2W - $1200. Unit 3E - $700. Unit 3W - $1200. Unit 4R - $1000. Total Rent Roll as of January 2025 - $7524 ($7776 with HUD tenant). Total 2025 Rental Income - $93.312 Total Expenses - $25,975. (incl. taxes, insurance, pest, water, sewer, trash, heat, house electric) Net - $67,337 Landlord currently pays for water, sewer, trash, and heat. Units are all separately metered for electric. Separate water meters have been added to most units to allow for tenants to pay their own water but current owner has not utilized them. All leases are being signed or have been transitioned to month to month for a smooth transition to the new owner(s). Showings are limited and will be bundled when possible to limit tenant inconveniences. DO NOT VISIT THE PROPERTY WITHOUT AUTHORIZATION! Please respect the privacy of the current tenants.
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MLS#
PABK2051396
Property Type
Multi-Family
Year Built
1900
Square Feet
5,500
sq. ft
Price per Sq. Ft.
$118.18
Lot Size
0.09
Sewer
Public Sewer
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