414 Walnut St Reading, PA 19601

Nice, spacious Colonial brick 3 Unit on the edge of the Callowhill Historic District and perfectly situated in a downtown location with all that downtown Reading has to offer and with quick access to major roads, shopping, schools and hospitals! Unit 1 is located on the 1st floor front and has 3 rooms, 1 BR, living room, kitchen, bath, basement access, hardwood floor, has a 1 car parking space for an additional $40 a month, all electric, electric cooking, electric baseboard heat all paid for by the tenant, rented for $550 a month by a family friend for 1 year since 9/02/20, very nice apartment. Unit 2 is located on the 2nd floor and has 5 rooms, 3 private BRS, living room, kitchen, bath, covered rear balcony, ceramic tiled bath & kitchen, electric cooking and baseboard heat all paid for by the tenant, currently vacant but was previously rented for $800 a month. The owner may rent this unit while in the process of being sold. Unit 3 is located in the first floor rear and is an efficiency unit with 2 rooms, BR/Living room, bath, there is no real kitchen, tenant has a small fridge and an electric hotplate used for cooking, the flooring is ceramic tile, electric baseboard heat, owner pays first $70 of the monthly electric bill - tenant pays the rest, rented for $400 a month on a year to year basis since 11/1/20. There is off street parking for 2 plus cars. All brick exterior with metal roofs. 200 AMP electric. Replacement windows. Owner pays for the electric hot water. Only one 40 gallon water heater for the 3 units. Owners also pays for WSTR. Total Income: $22,080. Total expenses: $6,720. NOI: $15,360. CAP Rate: 11%. Expenses breakdown: WSTR: $3,900. Owner's Electric: $840. Insurance: $700. Taxes: $1,180. Permits: $100. Parking income is included in the total income. The building is in overall good condition! Excellent investment opportunity with room to increase the rents, income and CAP Rate and a must for your investment portfolio!