525 Penn St, Reading, PA 19601

$1,300,000
List Price
$1,300,000
Days on Market
15
Status
ACTIVE
MLS#
PABK2039426
Lot Size (Acres)
0.1
Year Built
1880
County
Berks
School District
Reading

Property Description

525 Penn Street in Reading City is located on the heaviest traveled block within the city. This building is situated one block off of the Berks County Court house and Santander Arena. Most outside public events throughout the year are held on the 500 block. 525 Penn St. building has a total of 6 units, 4 units are leased, generating incoming with a cap rate over 10%, with projected cap rates to go as high as 13%. The building itself is located in the Commercial-Core, historic district of Reading. The roof has been replaced in the past two years, and each unit has its own central air/heat system, for easy utility billing. Downtown Penn St. has recently added Alvernia University to the 400 block, and a new state of the art hospital is scheduled to be coming to the American House on the corner of the 300 block. In the past few weeks, several sections of the 400 block have been purchased and the improvement and revitalization of Penn St has accelerated. The benefits of 525 Penn St. is that the property is turnkey and incoming generating, leaving no delay for a build out or renovation process. This property is ahead of the rest and is located among the best. All documents available to show you the analytics of success this building has to offer.

Additional Information

Area
Reading City (10201)
Taxes
$10439
Stories
5
School District
Reading
Flooring
Ceramic Tile, Hardwood, Laminated, Luxury Vinyl Plank, Carpet, Wood
View
City
Heating
Central
Heating Fuel
Electric
Cooling
Central A/C
Roof
Flat, Rubber
Utilities
Electric Available, Cable TV Available, Phone Available, Sewer Available, Water Available
Water
Public
Sewer
Public Sewer

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Coldwell Banker Realty. Contact: (610) 373-9900