1041 Penn St Reading, PA 19601

Listing Details

• Property Type: Multi-Family
• Structure Type: Interior Row/Townhouse
• Architectural Style: Converted Dwelling
• Ownership: Fee Simple
• New Construction: No
• Storage: Basement
• Year Built: 1900
• Remarks Public: 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) -
• Special Features: None
• Property Sub Type: MultiFamily

Interior Features

• Flooring Type: Wood, Tile/Brick
• Interior Amenities: Ceiling Fan(s)
• Window Features: Energy Efficient, Replacement
• Fireplace: No
• Entry Location: Foyer
• Foundation Details: Stone
• Room List: Primary Bedroom
• Basement: Yes
• Basement Type: Full, Unfinished
• Laundry Type: Common
• Total Sq Ft: 6015
• Living Area Sq Ft: 6015
• Price Per Sq Ft: 39.90
• Above Grade Finished Sq Ft: 6015
• Above Grade Finished Area Units: Square Feet
• Street Number Modifier: 1041

Exterior Features

• Other Structures: Above Grade
• Construction Materials: Stucco, Brick
• Exterior Features: Sidewalks, Street Lights
• Water Access: No
• Waterfront: No
• Water Oriented: No
• Pool: No Pool
• Tidal Water: No
• Water View: No

Garage/Parking

• Garage: No
• Open Parking Spaces Count: 8
• Parking Features: Private

Utilities

• Central Air Conditioning: No
• Cooling Type: Wall Unit
• Electric Expense: 980.00
• Electric Service: 200+ Amp Service, Circuit Breakers
• Heating Fuel: Electric
• Heating Type: Electric, Baseboard
• Heating: Yes
• Hot Water: Natural Gas
• Sewer/Septic System: Public Sewer
• Utilities: Cable Tv Available
• Water Sewer Expenses: 5400.00
• Water Source: Public

Condo/Co-op/Association

• Condo Co-Op Association: No
• HOA: No

Schools

• School District: READING
• High School: READING SENIOR
• School District Key: 300200397169
• High School: READING SENIOR

Lot Info

• Improvement Assessed Value: 13500.00
• Land Assessed Value: 34900.00
• Land Use Code: 4200
• Lot Size Acres: 0.17
• Lot Dimensions: 40X184
• Lot Size Units: Square Feet
• Lot Sq Ft: 7405.00
• Property Condition: Good
• Zoning: R-3

Rental Info

• Vacation Rental: No

Multi Family

• Gross Income: 44700.00
• Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3,Unit 6

Tax Info

• Assessor Parcel Number: 1445915
• Tax Annual Amount: 2095.00
• Assessor Parcel Number: 08-5317-77-00-9378
• Tax Lot: 9378
• Tax Year: 2018
• Close Date: 11/30/2018

MLS Schools

• School District Name: READING