Fantastic stand alone detached 4 unit consisting of a pair of side by side 2 story semi's with 2 units in each building and each unit occupying the entire floor. Good NE Reading location with an oversized 2 car garage and a storage unit providing additional income . Unit 1 - 1200 side 1st floor has 5 rooms, 2 BRS, electric baseboard heat, electric cooking, electric hot water, rented for $565/month by a 6 year tenant. Unit 2 - 1200 side 2nd floor has 3 rooms, 1 BR, gas cooking, electric baseboard heat, electric hot water, rented for $515/month. Unit 3 - 1202 side 1st floor has 4 rooms, 2 BRS, gas cooking, electric baseboard heat, previously rented for $515/month. Longterm tenant just vacated and this rent will increase to $550-565/month. Unit 4 - 1202 side 2nd floor has 3 rooms, 1 BR, gas cooking, electric baseboard heat, electric hot water, rented for $525/month. Additional rentals include the 2 car oversized garage rented for $80/month and the storage unit in the rear of 1200 rented for $40/month. Total annual income: $27,180. Total expenses: $7,389. Net Income: $19,791. CAP RATE: 15%. Expenses breakdown: Taxes: $2,943. Insurance: $858. Water/Sewer: $2,160. Trash/Recycling: $1,212. Electric: $216. Code inspected in April 2019 and all compliant. 2 covered front porches and 2 covered rear porches. 4 total electric water heaters. Old oil boiler is not being used and will not be removed. 200 AMP main service with 4 100 AMP breaker panels. Washer & dryer in basement of 1200 is used only by tenant at 1200 1st floor unit 1. Tenants pay for their electric and gas utilities including heat, hot water and cooking fuels. Owner pays for water/sewer/trash/recycling. Excellent income producing investment property in a very good NE Reading neighborhood that is a must for your investment portfolio! Will not last!
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