1. Pennsylvania
  2. West Reading
  3. 100 S 2ND AVE
$330,000

100 S 2ND AVE, West Reading, PA 19611

  • 2,506 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1920
  • Property Lot Size Icon2,614sqft lot
  • Property Parking Icon 4 car garage
  • Property Price Per Square Feet Icon $132/sqft
  • Property List Date Icon Listed 3 months ago

Property Description

Very large West Reading - Wyomissing School District corner end of row 3 unit building with a detached 2 level 4 car garage with paved parking for 2 cars but could be expanded for up to 4-5 cars. The building is in overall solid shape but does need some work and has very low rents. Unit 1 is a total rehab and is currently vacant. This unit is on the 1st floor and has 4 rooms, 2 BRS, liv, kit, bath, projected rent $1500 a month. Unit 2- 2nd fl, 3 rooms, 1 BR, liv, kit, bath, 2 walk-in closets, covered balcony, 2 year tenant paying $585/month on a M/M basis. Market rent is $1100-1200 a month. Unit 3 - 3rd fl, 3 rooms, 1 BR, liv, kit, bath, covered balcony, 2 walk-in closets, 2 year tenant paying, $605/month on a M/M basis. Market rent is $1100-1200 a month. Garage #1 - $55/month. Garage #2 - $55/month. Garage #3 - $45/month. Garage #4 - Owner's unit. All 2 year tenants. Market rents - $125-150/month. Current actual income: $16,140. Expenses: $11,062. Net Income: $5,078. Cap Rate: 2% Expenses breakdown: Taxes: $4727. Electric: $361. Gas Heat: $1623. Water/Sewer: $2251. Insurance: $2,000. Owner pays for gas heat, common electric, w/s, trash, recycling, lawn maintenance & snow removal. Tenants pay for their electric and gas for cooking and hot water. All cooking is gas and all 3 water heaters are gas. One was just replaced in 2025. At market rents annual income: $54,000. Expenses: $11,062. NOI: $42,938. Cap Rate: 13%. Recent updates include a new rubber roof 8-10 years ago. New gas boiler about 20 years ago. New replacement windows about 15 years ago. 200 AMP electric with 4 - 100 amp panels. Units 2 & 3 have been recently remodeled. A gem of a property with so much potential that will make a wonderful addition to your investment portfolio!! Being sold AS IS.

Listing Status:
Pending
Date Added:
March 29, 2025 at 05:00AM
Listing Office:
RE/MAX Of Reading : 6106702770
Listing Agent:
Jose M Candelaria : 6102078066
MLS ID:
PABK2055236

This listing courtesy of Jose M Candelaria, RE/MAX Of Reading

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

West Reading Elementary Center

421 Chestnut St, West Reading, PA, 19611

Grades 5-6

0.19 miles away

W

Wyomissing Area Jr. / Sr. High School

630 Evans Ave, Reading, PA, 19610

Grades 7-12

1.64 miles away

W

Wyomissing Area Jr. / Sr. High School

630 Evans Ave, Reading, PA, 19610

Grades 7-12

1.64 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.