$265,000
$299,000
11.4%For more information regarding the value of a property, please contact us for a free consultation.
0.25 Acres Lot
SOLD DATE : 05/02/2017
Key Details
Sold Price $265,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Subdivision None Available
MLS Listing ID 1003329177
Sold Date 05/02/17
Style Other
HOA Y/N N
Originating Board TREND
Year Built 1920
Annual Tax Amount $7,836
Tax Year 2017
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions IRREG
Property Description
GREAT INVESTMENT OPPORTUNITY! Turn key 6-7 unit mixed use property with a bonus 7-8 car garage. Gross rental income $49,000 with potential of up to $58,000. Low maintenance money maker! VERY CONSISTENT INCOME! Owner pays gas heat, water/sewer, and trash. Tenants pay their own hot water and electric. Property consists of two separate buildings on one parcel. Front building has a successful commercial hair salon on the first floor with full bath(tenant for 20 years), life lease tenant on second floor, and a 1 bedroom apt on the third floor. Rear building consists of two 2 bedroom units and one 1 bedroom unit as well as multiple storage areas and a 7-8 car garage(currently empty). Several improvements were made in the last year including a new front sidewalk, gas boiler conversion/chimney liner, new fencing, and misc new roofing, just to name a few. Building is priced with a 9.7% cap rate as is, but has an upswing potential of another 9500+ per year.
Location
State PA
County Berks
Area Hamburg Boro (10246)
Zoning MIXED
Rooms
Other Rooms Primary Bedroom
Basement Full
Interior
Hot Water Electric
Heating Oil
Cooling Wall Unit
Fireplace N
Heat Source Oil
Laundry None
Exterior
Garage Spaces 3.0
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Total Parking Spaces 3
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
New Construction N
Schools
High Schools Hamburg Area
School District Hamburg Area
Others
Tax ID 46-4494-05-09-9400
Ownership Fee Simple
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Bought with Penny L Noll • RE/MAX Of Reading
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