661 N 11th St, Reading, PA 19604

Large NE Reading 3 Unit in good condition. City Of Reading Code inspected and passed in 12/2020. Building is fully rented with long term tenants. All units are full electric. Heating is electric baseboard and paid for by the tenants. 3 Electric water heaters all in basement are paid for by the tenants. 2 of the water heaters are newer. Top roof is asphalt shingle. Rear roof is rubber. 200 AMP main electrical service. 4 Breaker panels. Basement used to be a bike shop years ago and has a display window and walkout street level access. Unit 1 - 1st floor, has 4 rooms, 2 BRS, living room, kitchen, bath, yard access, 1 year tenant, 725 a month. Unit 2 - 2nd & 3rd floor front has 3 rooms, 1 BR, living room, kitchen, bath, hardwood and vinyl floors, 2-3 year tenant, $570 a month. Unit 3 - 2nd Floor rear, efficiency unit, 3 rooms, BR/Living Room, kitchen, bath, bonus room, balcony, hardwood & vinyl floors, 2 year tenant, $415 a month. Total income yearly: $20,520. Total expenses: $5,623. NET Income: $14,897. CAP RATE: 12%. Expenses breakdown: Taxes: $1,965. Insurance: $550. Owner's Electric: $348. Water/Sewer: $$1,800. Trash/Recycling: $960. Excellent investment opportunity in the popular NE Reading section of the City and near all scholls K-College. This is a must for your investment portfolio!