414 Walnut St Reading, PA 19601

Listing Details

• Property Type: Multi-Family
• Property Sub Type: Triplex
• Structure Type: Interior Row/Townhouse
• Architectural Style: Colonial
• Accessibility Features: 2+ Access Exits
• Ownership: Fee Simple
• Historic: No
• Home Warranty: No
• Inclusions: 2 Range/Ovens, 2 Refrigerators
• New Construction: No
• Other Expense: 5920.00
• Year Built: 1900
• Automatically Close On Close Date: No
• Building Winterized: No
• Remarks Public: 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!
• Special Features: None

Interior Features

• Appliances: Oven/Range - Electric, Refrigerator
• Flooring Type: Hardwood, Ceramic Tile
• Window Features: Replacement
• Fireplace: No
• Foundation Details: Stone
• Room Count: 9
• Basement: Yes
• Basement Type: Full, Dirt Floor, Interior Access, Unfinished
• Total Sq Ft: 1576
• Living Area Sq Ft: 1576
• Price Per Sq Ft: 85.66
• Above Grade Finished Sq Ft: 1576
• Above Grade Finished Area Units: Square Feet
• Street Number Modifier: 414

Exterior Features

• Other Structures: Above Grade, Below Grade
• Construction Materials: Brick
• Exterior Features: Exterior Lighting, Sidewalks, Street Lights
• Roof: Metal
• Spa: No
• Water Access: No
• Waterfront: No
• Water Oriented: No
• Pool: No Pool
• Tidal Water: No
• Water View: No

Garage/Parking

• Garage: No
• Parking Features: Paved Parking
• Total Garage And Parking Spaces: 2
• Type Of Parking: Off Street
• Off Street Parking Spaces: 2

Utilities

• Central Air Conditioning: No
• Electric Service: 200+ Amp Service, Circuit Breakers
• Heating Fuel: Electric
• Heating Type: Baseboard - Electric
• Heating: Yes
• Hot Water: Electric
• Sewer/Septic System: Public Sewer
• Utilities: Above Ground, Electric Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
• Monthly Water Average: 325
• Water Previous Twelve Months: 3900.00
• Water Source: Public
• Municipal Trash: Yes

Condo/Co-op/Association

• HOA: No
• Association Recreation Fee: No

Schools

• School District: READING
• School District Key: 300200397169
• School District Source: Listing Agent

Green Features

• Clean Green Assessed: No

Lot Info

• Improvement Assessed Value: 17700.00
• Land Assessed Value: 9300.00
• Land Use Code: 133R
• Lot Size Acres: 0.04
• Lot Dimensions: 0.00 x 0.00
• Lot Size Units: Square Feet
• Lot Sq Ft: 1742.00
• Outdoor Living Structures: Patio(s), Balcony, Roof
• Property Condition: Good
• Year Assessed: 2021
• Zoning: R3

Rental Info

• Existing Lease Type: Yearly
• Ground Rent Exists: No
• Number Of Units Month To Month: 2
• Owner Pays: Insurance, Lawn/Shrub Care, Repairs, Sewer, Sewer Maintenance, Snow Removal, Taxes - Real Estate, Trash Collection, Water
• Rent Control: No
• Total Actual Rent: 22080.00
• Units Leased Count: 2
• Vacation Rental: No

Tax Info

• Assessor Parcel Number: 1445019
• School Tax: 484.00
• Tax Annual Amount: 1180.00
• Assessor Parcel Number: 07-5307-74-71-4286
• Tax Lot: 4286
• Tax Total Finished Sq Ft: 1576
• County Tax Payment Frequency: Annually
• Tax Year: 2020
• Close Date: 08/16/2021

Multi Family

• Number Of Units Vacant: 1
• Gross Income: 22080.00
• Gross Scheduled Income: 22080.00
• Income Includes: Apartment Rentals, Parking
• Operating Expense: 6720.00
• Other Units: Unit 1,Unit 2,Unit 3
• Single Room Units Count: 1

MLS Schools

• School District Name: READING