Seller's Agent in 2020
Mark Shanaman
RE/MAX of Reading
(484) 256-7956
5 in this area
113 Total Sales
237 W Lancaster Ave Reading, PA 19611
Studio
3
Baths
4,267
Sq Ft
8,712
Sq Ft Lot
Highlights
- No HOA
- Downtown Location
- Hot Water Heating System
- 5 Car Attached Garage
- Central Air
About This Home
As of May 2020Excellent 5 unit Investment opportunity on a highly visible corner lot in the borough of Shillington. Relocate, or start a new business in the main level office space with road frontage on Lancaster Ave. There is approximately 1034 sq. ft. of immediately available office space, consisting of a 20 x 28 main level office room & additional office/storage room and bath in the lower level. The main building also has 2 residential apartments, 1 on the main level & 1 on the 2nd and 3rd floors. There is a 2nd detached building that includes 2 apartments and 5 garages renting @ $75 each. The units are separately metered for heat, hot water and electric. Recent upgrades include roof, vinyl siding, some replacement windows. The units are clean and modern with updated kitchens & bathrooms. This building is ideal for a commercial owner occupant who wants to generate additional income, or buy for an investment with an 11% return. The commercial space is vacant and available for immediate occupancy, all 4 residential units are occupied.
Last Agent to Sell the Property
(610) 670-2770 info@goberkscounty.com RE/MAX Of Reading License #RS182255L Listed on: 07/09/2019
Co-Listed By
(610) 670-2770 info@goberkscounty.com RE/MAX Of Reading License #RS-196634-L
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,113
Year Built
- Built in 1900
Lot Details
- 8,712 Sq Ft Lot
- Downtown Location
Parking
- 5 Car Attached Garage
- 2 Open Parking Spaces
- Rear-Facing Garage
- On-Street Parking
- Off-Street Parking
Home Design
- Converted Dwelling
- Shingle Roof
- Asphalt Roof
- Vinyl Siding
- Stick Built Home
Interior Spaces
- Basement Fills Entire Space Under The House
Utilities
- Central Air
- Heating System Uses Natural Gas
- Hot Water Heating System
- Natural Gas Water Heater
- Cable TV Available
Listing and Financial Details
- The owner pays for real estate taxes, water, sewer, insurance, gas, electricity, trash collection
- Tax Lot 5987
- Assessor Parcel Number 77-4395-07-58-5987
Community Details
Overview
- No Home Owners Association
- 4 Units
Building Details
- 1 Vacant Unit
- Income includes apartment rentals, professional offices
- Operating Expense $12,307
- Net Operating Income $43,601
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/18/2020 05/18/20 | Sold | $360,000 | -6.5% | $84 / Sq Ft |
| 03/08/2020 03/08/20 | Pending | -- | -- | -- |
| 01/10/2020 01/10/20 | Price Changed | $385,000 | -3.7% | $90 / Sq Ft |
| 09/30/2019 09/30/19 | Price Changed | $399,900 | -10.9% | $94 / Sq Ft |
| 07/09/2019 07/09/19 | For Sale | $449,000 | -- | $105 / Sq Ft |
Source: Bright MLS
Agents Affiliated with this Home
-
Mark Shanaman
-
Randy Weidner
Seller Co-Listing Agent in 2020
Randy Weidner
RE/MAX of Reading
(610) 780-7426
2 in this area
83 Total Sales
-
D
Buyer's Agent in 2020
Diana Ortiz
EXP Realty, LLC
Map
Source: Bright MLS
MLS Number: PABK344532
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