Attention investors interested in Reading City - Package Deal $535K (1039 Penn St. & 1041 Penn St. & 1042 Court St.) - Currently set up as an auto mechanic shop on the first floor and office on the second floor. This property has been also zoned as a one-bedroom apartment, that means it is zoned as commercial and residential. $775 monthly income on the first floor alone, $9,300 per year gross rent. Minus gross expenses: taxes ($858), Insurance ($675), Water ($600), Electric ($480), Trash ($396) that is only $250 a month! NOI is $525 per month or $6,300 per year! Annual rental license fee ($55) & rental permit ($50 per unit per year). Tenants pay natural gas hot water and electric baseboard heat. Cash Cow, Turn Key. Facing Court Street is a very large garage space (Could be converted into living space) leading to the backroom. Office space above (Could be converted to Bedroom studio) the shop is nicely finished with new windows and carpet. Garage is clean and bright with overhead door and large storage room behind leading to the backroom. Newer mechanicals and half bath (Could be converted to a full bath). City zoned as a one-bedroom apartment. Currently not leased, used as a warehouse and storage area for the apartment buildings 1039 & 1041 Penn. A natural gas line can be added by UGI gas company. Recent improvements: Parking lot milling/leveled up/rolling. Annual other expenses is trash. Entire property is code inspected and up-to-date. Owner is ready to enjoy retirement, this is a great investment. - Package Deal $535K (MLS# 1002202524, 1002202428, 1002202826, 1002202706, 1002202864, 1002202904) -
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Listing Courtesy ofSpringer Realty Group