Fantastic well maintained end of row 2 unit near downtown Reading fully rented with long term related tenants. Mother lives in unit 1 and daughter lives in unit 2. Unit 1 - 1st floor & basement has 4 rooms, 2 BRS, living room, kitchen, bath, laminate and tiled floors, electric cooking, electric hot water. Covered side patio and rear fenced yard. Rented by a Section 8 tenant for 12 years at $500/month. Unit 2, 2nd & 3rd floors has 5 rooms, 3 private BRS, Living room, kitchen, bath, ceramic tile & laminate floors, electric baseboard heat in attic. Rented for $675/month by a 3 year tenant. New high efficiency gas furnace in September 2018. Owner pays for the gas heat, water/sewer/trash/recycling. Tenants pay for their electric which includes cooking and hot water. Double pane replacement windows. 200 AMP main plus a 100 AMP main. 3 meters. Off street parking driveway fits 3 cars. Total income: $14,100. Expenses: 6,309. Taxes: $909. Heat: $1000. W/S/T/R: $3,600. Owner's Electric: $300. Insurance: $400. Permits: $100. Net Income: $7,791. Cap Rate: 16%. Rents are below market rents so cap rate will only get better. This is an awesome investment opportunity with a building in that's been super well maintained and updated! A true rare find! A must for your investment portfolio.
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