100 S 2 Nd Ave, West Reading, PA

Name: 100 S 2 Nd Ave, Sold in WEST READING - eXp Commercial Brokerage
Brand: RE/MAX of Reading
SKU: PABK2055236
Price: 330000 CAD

Real Estate

Sold

$--,---,---

$330,000

000

Key Facts
Description
Map

Key Facts

Type Triplex

Levels Residential Income

Size 2506 sqft

Garage Yes

Taxes $4,727

Lot Size

Approx. Age 1920

Avg. Price Per Sqft $131

MLS® Number PABK2055236

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

Very large West Reading - Wyomissing School District corner end of row 3 unit building with a detached 2 level 4 car garage with paved parking for 2 cars but could be expanded for up to 4-5 cars. The building is in overall solid shape but does need some work and has very low rents. Unit 1 is a total rehab and is currently vacant. This unit is on the 1st floor and has 4 rooms, 2 BRS, liv, kit, bath, projected rent $1500 a month. Unit 2- 2nd fl, 3 rooms, 1 BR, liv, kit, bath, 2 walk-in closets, covered balcony, 2 year tenant paying $585/month on a M/M basis. Market rent is $1100-1200 a month. Unit 3 - 3rd fl, 3 rooms, 1 BR, liv, kit, bath, covered balcony, 2 walk-in closets, 2 year tenant paying, $605/month on a M/M basis. Market rent is $1100-1200 a month. Garage #1 - $55/month. Garage #2 - $55/month. Garage #3 - $45/month. Garage #4 - Owner's unit. All 2 year tenants. Market rents - $125-150/month. Current actual income: $16, 140. Expenses: $11, 062. Net Income: $5, 078. Cap Rate: 2% Expenses breakdown: Taxes: $4727. Electric: $361. Gas Heat: $1623. Water/Sewer: $2251. Insurance: $2, 000. Owner pays for gas heat, common electric, w/s, trash, recycling, lawn maintenance & snow removal. Tenants pay for their electric and gas for cooking and hot water. All cooking is gas and all 3 water heaters are gas. One was just replaced in 2025. At market rents annual income: $54, 000. Expenses: $11, 062. NOI: $42, 938. Cap Rate: 13%. Recent updates include a new rubber roof 8-10 years ago. New gas boiler about 20 years ago. New replacement windows about 15 years ago. 200 AMP electric with 4 - 100 amp panels. Units 2 & 3 have been recently remodeled. A gem of a property with so much potential that will make a wonderful addition to your investment portfolio!! Being sold AS IS.Show Description

MLS® NumberPABK2055236

Laundry Level

Central VacNo

FireplaceNo

Acreage0.06

ExteriorExterior Lighting, Fire Escape, Sidewalks, Street Lights

GarageYes

Approx. Age1920

BasementDrain, Dirt Floor, Full, Interior Access, Outside Entrance, Rear Entrance, Unfinished, Poured Concrete

DrivewayAsphalt Driveway, Detached Garage, Driveway

Garage Spaces

HeatHot Water, Radiator, Natural Gas

A/CWindow Unit(s), Electric

Heating Fuel

Extras

2 Range/Ovens, 2 Refrigerators

Similar Listings