Seller's Agent in 2023
Jose Candelaria
RE/MAX of Reading
(610) 207-8066
214 Total Sales
1139 Church St Reading, PA 19601
Studio
4
Baths
4,371
Sq Ft
3,920
Sq Ft Lot
Highlights
- Attic
- Porch
- Bathtub with Shower
- Balcony
- Window Unit Cooling System
- Ceramic Tile Flooring
About This Home
As of August 2023TENANT PAID UTILITIES! Solid money maker! Unique 4 unit consisting of 2 buildings with long term tenants and a total of 4371 SQFT. Building 1 - Unit 1A is a SMD home with 3 BRS & 2 baths plus an unfinished attic that could be a 4th BR, covered front porch and is rented for $950 a month ($900+50 for use of the driveway for parking) by a 2 year tenant on a M/M basis. This unit has gas heat, gas hot water heater, gas cooking & 100 AMP electric service. This building was previously 2 units and measures 1379 SQFT. Building 2 has the other 3 units and measures a total of 2875 SQFT. Unit 2D is the 2nd floor right rear and has 4 rooms, 1 BR, living room, dining room, kitchen and bath and a 2 year tenant at $700 a month on a M/M basis. This unit has gas baseboard heat, gas hot water heater, gas cooking & 100 AMP electric and measures a total of 748 SQFT. Unit 3C is the 2nd floor left rear unit and has 4 rooms, 1 BR, living room, dining room, kitchen and bath and a 7 year tenant at $700 a month on a M/M basis. This unit has electric baseboard heat, gas cooking, gas hot water heater & 100 AMP electric and measures a total of 748 SQFT. Both of these units share a large covered balcony. Unit 4E is the 1st floor rear and is a very large modern 2 BR unit with a living room, dining room, kitchen, bath with an open floor plan and used to be the owner's unit and is rented for $950 a month by a 9 year Section 8 tenant. Tenant pays $363 & Sect 8 pays $587 for a total of $950 a month on a 1 year lease through 9/30/23. This unit has a large covered front porch/patio, gas heat, gas hot water heater & 100 AMP electric and measures a total of 1496 SQFT. Tenants pay for gas heat, gas hot water, cooking & electric in their respective units. Driveway provides parking for 2 cars is currently being used by the unit 1A tenant. 200 AMP electric service main with breaker panels. All rents are very under market. Projected market rent: Unit 1A - $1600. Unit 2C - $1300. Unit 3D - $1300. Unit 4E - $1400. Total projected income at market rents: $67,200. Total expenses: $11,713. NOI: $55,487. CAP Rate: 15%. Current gross income: $39,600. Total expenses: $11,713. NOI: $27,887. CAP Rate: 7.00%. Expenses breakdown yearly: WSTR: $4800. Taxes: $3813. Insurance: $3000. Permits: $100. The properties are both in very good condition and pride of ownership is evident throughout. Super investment property and a must have in your investment portfolio!
Last Agent to Sell the Property
(610) 670-2770 info@goberkscounty.com RE/MAX Of Reading License #RS193774L Listed on: 07/24/2023
Last Buyer's Agent
(610) 670-2770 info@goberkscounty.com RE/MAX Of Reading License #RS193774L Listed on: 07/24/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,813
Year Built
- Built in 1920
Lot Details
- 3,920 Sq Ft Lot
- Property is in very good condition
Home Design
- Quadruplex
- Converted Dwelling
- Brick Exterior Construction
- Stone Foundation
- Pitched Roof
- Shingle Roof
- Metal Roof
- Concrete Perimeter Foundation
Interior Spaces
- Bathtub with Shower
- 4,371 Sq Ft Home
- Replacement Windows
- Gas Oven or Range
- Attic
Flooring
- Carpet
- Laminate
- Ceramic Tile
- Vinyl
Unfinished Basement
- Basement Fills Entire Space Under The House
- Exterior Basement Entry
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Parking
- 2 Parking Spaces
- 2 Driveway Spaces
- On-Street Parking
Outdoor Features
- Balcony
- Exterior Lighting
- Porch
Schools
- Reading Senior High School
Utilities
- Window Unit Cooling System
- Radiator
- Heating System Uses Natural Gas
- Hot Water Heating System
- Electric Baseboard Heater
- Above Ground Utilities
- 200+ Amp Service
- Natural Gas Water Heater
- Municipal Trash
Listing and Financial Details
- The owner pays for insurance, lawn/shrub care, common area maintenance
- Tax Lot 2509
- Assessor Parcel Number 14-5307-43-86-2509
Community Details
Overview
- 4 Units
- 4-Story Building
- Northwest Reading Subdivision
Building Details
- Income includes apartment rentals, parking
- Insurance Expense $3,000
- Other Expense $4,800
- Operating Expense $11,713
- Gross Income $39,600
- Net Operating Income $27,887
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/31/2023 08/31/23 | Sold | $380,000 | -4.5% | $87 / Sq Ft |
| 07/24/2023 07/24/23 | For Sale | $398,000 | -- | $91 / Sq Ft |
| 07/23/2023 07/23/23 | Pending | -- | -- | -- |
Source: Bright MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,391 | $88,100 | $15,300 | $72,800 |
| 2024 | $3,912 | $88,100 | $15,300 | $72,800 |
| 2023 | $3,851 | $88,100 | $15,300 | $72,800 |
| 2022 | $3,851 | $88,100 | $15,300 | $72,800 |
| 2021 | $3,851 | $88,100 | $15,300 | $72,800 |
| 2020 | $3,813 | $88,100 | $15,300 | $72,800 |
| 2019 | $3,813 | $88,100 | $15,300 | $72,800 |
| 2018 | $3,813 | $88,100 | $15,300 | $72,800 |
| 2017 | $3,788 | $88,100 | $15,300 | $72,800 |
| 2016 | $2,164 | $88,100 | $15,300 | $72,800 |
| 2015 | $2,164 | $88,100 | $15,300 | $72,800 |
| 2014 | $1,991 | $88,100 | $15,300 | $72,800 |
Source: Public Records
Agents Affiliated with this Home
-
Jose Candelaria
Map
Source: Bright MLS
MLS Number: PABK2032728
APN: 5307-43-86-2509
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