1036 Washington St, Reading, PA 19601

Very large fully rented 3 unit in a very good downtown Reading location only 1 block to City Park and near City Hall, The DoubleTree Hotel and all that downtown Reading has to offer. The building is in overall very good condition and appears to have been constructed as a multi-unit and provides over 3300 SQFT with spacious, well designed units. All units are nearly identical with 5 total rooms, 2 private BRS, living & dining rooms, rear covered porches and all have access to the 3 story fire escape shaft at the rear of the property exiting to the yard. All leases are M/M. Unit 1, 1st floor has a 3 year tenant, gas cooking-tenant paid, electric baseboard heat, electric hot water both tenant paid and pays $800 a month. Unit 2, 2nd floor has a 3 year tenant, electric cooking-tenant paid, electric baseboard heat, electric hot water both tenant paid and pays $800 a month. Unit 3, 3rd floor has a 3 year tenant, electric cooking-tenant paid, electric baseboard heat, electric hot water both tenant paid and pays $735 a month. All appliances are the property of the owner and will be sold with the property including a commercial coin operated washer & dryer located in the basement. All appliances sold AS IS. Not sure if the washer & dryer are working. The basement does have 3 exits and an exclusive alley to the front and rear of the property. 200 AMP main with 4 - 100 AMP breaker panels. Rubber main roof. City Of Reading Code Compliant as of summer 2021. Total Income:: $28,020. Total Expenses: $7,402. Net operating income: $20,618. Cap Rate: 11%. Expenses breakdown: W/S/T/R: $3,700/yearly. Owner's Electric: $360/yearly. Insurance: $1,200/yearly. Property Taxes: $2,042/yearly. Rental Permits: $100. Excellent, solid income producing investment property that is a must for your investment portfolio!