Address
118 Church Street, Reading, PA
Price
$ 1,175,000
Property Attributes
- MLS#PABK2038948
- TypeCommercial
- CountyBERKS
- CityReading
- AreaReading City
- NeighborhoodNorthwest Reading
- Zip19601
- StyleApartment Building
- Year Built1900
- Taxes$ 4402
- Price$ 1,175,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage15000
- Lot Size6,098 SqFt
Data Source:
Bright MLS
Property Description
Welcome to this remarkable property in the heart of Reading, PA. A property with character with the potential of increasing your portfolio and your cash flow. The location is key since it is accesible to public transportation, and close to colleges, entertainment centers, City Hall, banks, medical facilities, the courthouse, restaurants and others. The 13 units include 8 apartments with one bedroom, 4 apartments with 2 bedrooms and a large commercial space that can be utilized to start a business, with zoning approval. All units have their individual gas heaters, electric meters and water heaters. Tenants pay for their own heat, electric and hot water. The owner pays for water, sewer, trash and other owner expenses such as insurance, taxes, maintenance and pest control. On top of that it has a garage with 7 parking spaces. The current cap rate can be increased to 10.74% with the proposed rents. Take advantage of this great opportunity today!
| Price History | |
|---|---|
| 1/27/2024 | Listed $1,175,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | 90% Forced Air |
| Cooling | None |
| Possession | Negotiable |
| Roof | Flat,Built-Up |
| Zoning | CC |
| Construction Materials | Brick,Stone |
| Exclusions | Owner's and tenants personal property |
| Year Built | 1900 |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | None |
| OwnerPays | Insurance,Pest Control,Repairs,Sewer,Taxes - Real Estate,Trash Collection,Water,Snow Removal,Other |
| Business Type | Apartment Building,Other |
| Accessibility | None |
| County | BERKS |
| Net Operating Income | 84860.00 |
| Operating Expense | 24580.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | NORTHWEST READING |
| Possible Use | Commercial,Convenience Store,Dry Cleaner,Florist/Nursery,Laundromat,Mini-Storage,Mixed Use,Office,Professional Service,Vacant,Other,Retail,Restaurant,Funeral Home |
| Water Access Y/N | No |
| Property Use | Investment |
| Transportation | Bus Stop less than 1 mile,Airport less than 10 miles |
| Status | ACTIVE |
| Directions | Via Penn Ave. Head southeast on US-422 E. Exit onto US-422 BU E/ Penn Ave towards Penn St/Reading. Continue straight onto Penn St. Turn left onto N 3rd St. Turn right at the 1st cross street onto C |
| ModificationTimestamp | 2024-04-25T07:04:01 |
| City | READING |
| Buyer Agent Compensation | 2 |
| Zoning Description | The property located at 118 Church St is within the C-C district and Callowhill Historic District. |
| Total Units | 13 |
| MLS Area | Reading City (10201) |
| Lot Size Square Feet | 6098.00 |
| Tax Assessed Value | 100700.0 |
| Waterfront Y/N | No |
| Street Name | CHURCH |
| Tax Annual Amount | 4402.0 |
| Property Condition | Average |
| Price Per Sq Ft | 192.69 |
| Acceptable Financing | Conventional,Cash,Negotiable |
| Vacation Rental Y/N | No |
| Virtual Tour | https://drive.google.com/file/d/14Q92TD8RnZsfSTcAvYudNZX9AIHWG95e/view?usp=sharing |
| Days on Market | 96 |
| Location Type | Downtown |
| Standard Status | Active |
| Year Built Source | Estimated |
| Tax Lot | 0965 |
| Cap Rate | 7.22 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Natural Gas,Electric |
|---|---|
| Hot Water | Natural Gas |
| Total Stories | 4 |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | No |
Exterior Features
| Parking Features | Private |
|---|---|
| Water Source | Public |
| Inclusions | 12 refrigerators,12 stoves |
| Total Parking Spaces | 7 |
| Type of Parking | Private Garage |
| Land Use Code | 4201 |
| Foundation Details | Stone,Concrete Perimeter |
| Water View Y/N | No |
| Building Area Total | 6098.00 |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.14 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Road Responsibility | City/County |
| Land Assessed Value | 18000.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
| Car Parking Spaces | 7 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 19601
Price
Taxes
Visits
Year Built
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