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270 S 9TH Street

READING, PA 19602
  • $1,750,000
  • STATUS: Active
  • ON SITE: 118 Days
  • ID#: PABK2002544
UPDATED: 53 min ago
$1,750,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

School District:

Description

26 total units for sale, 5 addresses, a significant add value opportunity. The current actual rent roll is $175,140. Many tenants have been in place for years and are on month to month leases. The new owner would be able to raise rents on the existing units to over $222,000 per year, plus get additional revenue from the coin laundry which is not included the total. Two of the buildings are in opportunity zones downtown. All apartment units are fully occupied and all tenants are 100% current on rent; the two commercial units are currently vacant and could be rented for immediate additional income. Employment/income verification and background screening has been done for all tenants. Tenants pay for most or all of their own utilities. Most units are updated with many new appliances. The real estate taxes are $11,125 for all 5 buildings combined and Insurance is $6850/year. 270 S 9th St. Reading PA - 8 total units 5-1BR Apartments, Barbershop/Salon Storefront, 2 Garages. Located next to the grocery store, local laundry, and other shops.232 N 6th St Reading PA - 5 total units 3-1Br Apartments, Attorneys Office, 1 Carriage House,Opportunity Zone336 N 6th St Reading PA - 4 total units 4-1BR Apartments, Off-street parking,Opportunity Zone754 N 11th St Reading PA - 5 total units + Laundry 3-1BR, 1-2BR, 1-3BR Apartments, off-street parkingLarge end of row building, tenants pay all of their own utilities except water/sewer.1016 N 11th St Reading PA - 4 total units 3-1BR Apartments, 1 GarageSection 8 tenants, automatic income

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-30T15:52:50.117.
www.marylandrealestatesearch.com/homes/120008376
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270 S 9TH Street READING, PA 19602

  • Price: $1,750,000
  • Status: Active
  • On Site: 118 Days
  • Updated: 53 min ago
  • ID#: PABK2002544
0
Beds
0
Baths
0
½ Baths
0.05
Acres
Neighborhood:
Reading City (10201)
County:
Berks
Area:
Reading City (10201)
School District:
Reading
Property Description
26 total units for sale, 5 addresses, a significant add value opportunity. The current actual rent roll is $175,140. Many tenants have been in place for years and are on month to month leases. The new owner would be able to raise rents on the existing units to over $222,000 per year, plus get additional revenue from the coin laundry which is not included the total. Two of the buildings are in opportunity zones downtown. All apartment units are fully occupied and all tenants are 100% current on rent; the two commercial units are currently vacant and could be rented for immediate additional income. Employment/income verification and background screening has been done for all tenants. Tenants pay for most or all of their own utilities. Most units are updated with many new appliances. The real estate taxes are $11,125 for all 5 buildings combined and Insurance is $6850/year. 270 S 9th St. Reading PA - 8 total units 5-1BR Apartments, Barbershop/Salon Storefront, 2 Garages. Located next to the grocery store, local laundry, and other shops.232 N 6th St Reading PA - 5 total units 3-1Br Apartments, Attorneys Office, 1 Carriage House,Opportunity Zone336 N 6th St Reading PA - 4 total units 4-1BR Apartments, Off-street parking,Opportunity Zone754 N 11th St Reading PA - 5 total units + Laundry 3-1BR, 1-2BR, 1-3BR Apartments, off-street parkingLarge end of row building, tenants pay all of their own utilities except water/sewer.1016 N 11th St Reading PA - 4 total units 3-1BR Apartments, 1 GarageSection 8 tenants, automatic income
Exterior Features

Construction Materials Masonry Garage YN No Parking Types Parking LotOther Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 18000.00 Cooling None Heating Baseboard - Hot Water Heating YN Yes Inclusions All Appliances As-Is Net Square Feet 18000.00 Security Features Surveillance Sys

Property Features

Acceptable Financing CashConventional Accessibility Features None Assessment Year 2021 Association YN No Business Type Apartment BuildingHair Salon And SpaProfessional Central Air YN No Cooling Fuel None Heating Fuel Natural Gas Hot Water Multi-Tank Municipality Reading City Navigable Water YN N New Construction YN No Number Of Units Total 25 Original MLSNumber 800919363520 Ownership Interest Fee Simple Possession Negotiable Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 2758.00 Tax Assessment Amount 63100.00 Tax Lot 9229 Utilities Natural Gas AvailableElectric AvailableCable Tv AvailablePhone AvailableWater AvailableSewer Available Vacation Rental YN No Water Source Public Zoning Multiple

Listing courtesy of Keller Williams Real Estate-Doylestown.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-30T15:52:50.117.
 
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Lee Tessier Team | eXp Realty
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