Incredible income potential and long term investment opportunity. Owner has started some improvements. Very large NE Reading 3 unit end of row about 2500 square feet in need of some work. 2 story 1.5 car garage. Unit 1 has 3 rooms, 1 BR, gas hot water heat and new electric hot water heater paid for by tenant and projected rent of $650/month. Unit 2, 2nd floor rear, efficiency unit gutted, has a new gas heater and has a new electric hot water both paid for by tenant, projected rent $600/month. Unit 3, 2nd & 3rd floor front has 4 rooms, 2 private BRS, currently vacant, gas hot water heat and new electric hot water heater paid by tenant, projected rent $750/month. Gross projected rent: $24,000. Expenses: Taxes: $1960. W/S: $2400. Owner's Electric: $350. Insurance: $1,200. Permits: $100. Total Expenses: $6,010. Net Income: $17,990. Cap Rate: 21.00%. 2 Story garage has a bathroom & electric. Tenants pay for gas heat, and electricity. owner pays for water , sewer, trash & recycling. 3 Gas Boilers - 1 new, 3 new electric hot water heaters. Being sold AS IS! Cash sales only!
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