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Key Details
Sold Price $180,790
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,178 sqft
Price per Sqft $83
MLS Listing ID PABK364108
Sold Date 12/01/20
Style Traditional
HOA Y/N N
Abv Grd Liv Area 2,178
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $1,039
Tax Year 2020
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 0.00 x 0.00
Property Description
Cap rate of nearly 10%...includes laundry business, equipment, 2 apartments, and 1 small garage.. This is a rare opportunity to own an essential business that stayed open during Covid with reliable consistent income each and every week. This listing is for the entire building + garage + all laundromat equipment currently installed. This property was purchased in 2016 and seller invested heavily in new HVAC, hot water heaters, electrical, upgraded plumbing, new flooring, new paint, new lighting (inside and outside) and most recently completely gutted and remodeled apartment (see pictures). And by far the biggest improvement of all, we installed all brand new top quality washers that are manufactured to last for 20 years. Seller invested heavily to make this laundromat operate smoothly and reliably. It's been nearly 4 years now, and they ready to move on to bigger things now, and need to let this one go to fund his next investment. This is perfect for someone who is handy and local, and wants to hit the ground running. Unlike starting a business, the minute you own this, you'll have money flowing in. Seller did all the hard work. This property has a full blow top quality surveillance system, smart locks and sensors on doors that give you full control of the laundromat from your smart phone at any moment. Everything automated where the store is opened in the morning, and cleaned and closed in the evening without me lifting a finger. Seller did all the hard work for you. There is also a detached garage in the back that can be used for storage or rental. Currently use for storage. This business is the consistent reliable income each week. This is an essential business that could stay open during the entire time of Covid, and that is very valuable! Rents $625 current $600 vacant one ,Tenants pay electric .
Location
State PA
County Berks
Area Reading City (10201)
Zoning MIXED USE
Interior
Hot Water Natural Gas
Heating Heat Pump - Gas BackUp
Cooling Central A/C
Heat Source Natural Gas, Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Reading
Others
Tax ID 01-5306-35-88-3405
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Jose Serrano • Keller Williams Realty Devon-Wayne