Great investment opportunity. Completely rehabbed in 2007, and updated 2014/2015 income property. Easy to rent and low maintenance. Off street rear parking 7 plus cars. Semi-Detached/Twin type. 3 Stories, All heat separated and paid for by tenants. 3 newer gas boilers and one unit baseboard electric heat. All units occupied. No delinquency, good, clean paying tenants. Cap rate 9%. Annual GPR $29,520. Annual taxes $3,102. Net Operating Income $12,700. Brokers and Realtors invited and protected. Great property manager. Owners pay water, sewer, trash, taxes, recycling. Tenants pay gas and electric. Updated electric, new deck front and rear. All replacement windows. This property is offered along with 536 Lancaster Avenue located right next door, a 5 unit C/Res property with off street parking.
Off market
$350,400
540 Lancaster Ave, Reading, PA 19611
7beds
2,560sqft
MultiFamily
Built in 1921
-- sqft lot
$350,400 Zestimate®
$137/sqft
$1,408 Estimated rent
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Baseboard, Forced air, Other, Radiant, Electric, Gas
Cooling
- Wall
Appliances
- Included: Microwave, Range / Oven, Refrigerator
Features
- Flooring: Other, Carpet, Hardwood, Laminate, Linoleum / Vinyl
- Has fireplace: No
Interior area
- Total interior livable area: 2,560 sqft
Property
Parking
- Parking features: Off-street, On-street
Features
- Exterior features: Vinyl, Brick
- Has view: Yes
- View description: City
Lot
- Size: 3,920 sqft
Details
- Parcel number: 18530657546195
Construction
Type & style
- Home type: MultiFamily
Materials
- masonry
- Roof: Asphalt
Condition
- Year built: 1921
Community & neighborhood
Location
- Region: Reading