Upper Northeast Reading fully rented 3 unit in overall good condition with tenant paid electric heat. Property is located within walking distance to Albright College. Unit 1 - 1st floor has 3 rooms, 1 BR, electric baseboard heat, hot water & cooking. Tenant pays for common area electric and has this stated in the lease. Rented for $600/month beginning May 1st. Unit 2 - 2nd & 3rd floor front has 4 rooms, 2 BRS, 1.5 baths, electric baseboard heat, hot water & cooking. Rented for $675/month by a 2 year tenant. Unit 3 - 2nd floor rear is an efficiency unit, electric baseboard heat, hot water & cooking. Rented for $450/month. Total income: $20,700. Expenses: $4,321 (W/S/T/R: $2,380, Taxes: $1,316, Ins: $525, Permits: $100) Net Income: $16,379. Cap Rate: 13%. If you're looking to grow your investment portfolio then this property is a must see.
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