18 Unit, Zoning conforming, development opportunity near the heart of downtown Reading and just blocks from Alvernia University's College town campus on Penn St. Note: Rent projections based on the finished project. Be sure to look at the attached floor plan drawings. 18 units require 1.5 parking spaces each unit. (27 parking spaces may be available via lease at $50 / space in nearby lot).
exterior of the buildings is in good condition with a recent paint job, newer fire escape and rubber roof.
Gross Income estimates based on 18 units with an average income of $1,100 = $19,800 / month or $237,600 annually. expenses unavailable as the property is vacant and has been for a few years. Market rents average: | 1 bedroom $900 - $1,000 | 2 bedroom $1,200 - $1,400 | 3 bedroom $1,400 - $1,600
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 7th December, 2023 4:40 PM (UTC)