$155,000
$185,000
16.2%For more information regarding the value of a property, please contact us for a free consultation.
554 LANCASTER AVE Reading, PA 19611
3,485 SqFt
Key Details
Sold Price $155,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 3,485 sqft
Price per Sqft $44
Subdivision Millmont
MLS Listing ID PABK346512
Sold Date 10/18/19
HOA Y/N N
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $3,882
Tax Year 2019
Lot Size 3,485 Sqft
Acres 0.08
Lot Dimensions 19X191
Property Description
Turn-key investment property. Retail unit has been rented by the same tenant for 28 years. The largest of the 5 apartments is occupied by the owner and will be vacated at settlement while the other 4 are currently rented. All 5 apartments have a kitchen, bathroom, bedroom and living room. Owner's unit is estimated to rent for $650 per month. The Gross scheduled income includes this amount and updated rents for all units. Expenses and gross income listed are for the year 2018. Years 2015-19ytd are available. Current property manager collects 15% gross rent. Upgrading to a high efficiency gas heat system would certainly save on the heating bill!
Location
State PA
County Berks
Area Reading City (10201)
Zoning C-C
Direction Northeast
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling None
Heat Source Oil
Exterior
Utilities Available Natural Gas Available, Electric Available, Sewer Available, Water Available, Phone Connected
Water Access N
View City
Roof Type Rubber
Accessibility None
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Reading
Others
Tax ID 18-5306-57-54-6013
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Brad Manderbach • Keller Williams Platinum Realty
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