Northeast Reading 2 unit at the corner of Birch & Spring Street in need of work with an oversized 1 car detached garage currently rented for $50 a month. Unit 1 is on the main level and has 3 rooms, 1 private BR, Living, kitchen, tiled bath, Projected rent $600 a month. Unit 2 is on the 2nd & 3rd levels and has 4 rooms, 2 BRS, Living room, kitchen, tiled bath, Projected rent $750 a month. Property has an oil summer winter boiler paid for by the owner. 200 AMP main electric service with 3 - 100 AMP individual breaker panels. Top roof is an asphalt shingle roof, rear roof is rubber. Total projected annual income: $16,800. Total expenses: $7,648. Net income: $9,152. Cap Rate: 15%. EXPENSES: W/S: $1,800. Owner's electric: $350. Heat: $3,200. Insurance: $800. Permits: $100. Taxes: $1,398. Both apartment units are currently vacant. The garage has a long term tenant. Excellent income producing property with enormous potential in a very convenient location near all the schools K-College. Being sold AS IS! Cash Sales ONLY.
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