125 N 8Th Street

Downtown City of Reading middle row 2 unit building located in the C-R zoning district, currently being used as 2 fully occupied residential units but the main level is zoned commercial and not legally permitted for residential. Unit 1 - 1st fl, 3 rooms, 1 BR, liv, kit, bath, electric cooking, gas F/A heat, central air unit not working, replacement windows. rented for $750 a month on a M/M basis. Tenant pays for electric & gas heat. Unit 2 - 2nd & 3rd fl, 4 rooms, 2 BRS, liv, kit, bath, electric cooking. electric hot water for both units, gas F/A heat, replacement windows. rented for $800 a month on a M/M basis. Tenant pays for electric, electric hot water for both units, gas heat. Note: There's only ONE electric hot water heater for both units and its paid by the unit 2 tenant. Total income: 18,600. Total expenses: 6,439. NOI: 12,161. Cap Rate: 5.50%. Expenses breakdown: Taxes: 1,659. Ins: 1,500. W/S/T/R: 3,180. Permit: 100. Additional features include an asphalt shingle roof, 200 AMP main electric, 2-100 AMP breaker panels, off street parking for 2 cars. To be sold as a package deal with 129 N. 8th Street, Reading, PA 19601 - 225k. 132 Cedar Street, Reading, PA 19601 - 20k & 134 Cedar Street, Reading, PA 19601 - 20k. Total package price is $465k. This is an estate sale and is to be sold AS IS.