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Karen Scarpa

[email protected] +1(732) 631-4514

$ 535,000

Est. payment -/mo

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Pending

2732 KUTZTOWN RD Reading, PA 19605

3,000 SqFt

UPDATED:

09/18/2024 12:57 AM

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 3,000 sqft

Price per Sqft $178

MLS Listing ID PABK2046084

Originating Board BRIGHT

Year Built 1930

Annual Tax Amount $6,267

Tax Year 2024

Lot Size 0.270 Acres

Acres 0.27

Lot Dimensions 0.00 x 0.00

Property Description

***Fully Occupied***7-units with large parking lot. Welcome to 2732 Kutztown Rd, a rare and extraordinary multi-unit investment property located in the heart of Muhlenberg Township. This incredible asset offers a unique combination of rental income steams with 4x Single room units, 1x One bedroom, living room and kitchenette. The main level includes a 3 bedroom unit with central air, laundry, living room, modern kitchen with granite and all appliances and fully renovated full bathroom. Unit #7 is a lower level unit that includes 2 bedrooms, Living room, Kitchen with all appliances and a fully renovated full bathroom. All 5 units on the 2nd and 3rd floors are currently rented month-to-month for a total of $2,575/month. Main floor unit is rented for $1,650./month, lower-level unit is rented for $900/month. In addition there are 16 parking spaces in the parking lot, 8 spaces on the building side are for the tenants and 8 spaces on the street side are currently up for rent at $50/month each, for an additional income of $400/month. The four single rooms currently have low rents and could be increased to $175-200+/week and 3rd floor increased to $225+/week. Total potential income fully rented can easily bring in $6,650.00/month or Annual Gross rent of $79,800.00. Separate electric and separate water heaters for main floor and lower level units, and rooms. Owner pays electric and heat for room rentals and heat for 1st floor unit. Lower level has electric baseboard paid by tenant. Air Conditioning electric is paid by 1st floor tenant for unit #1. Public transportation, shops and restaurants. Opportunity to increase cash flow through rent increases and occupancy optimization. Diversified income streams reduce reliance on single tenants. Enormous long-term appreciation in property value. Contact us today to schedule a viewing and take the first step towards building your Real Estate portfolio.

Location

State PA

County Berks

Area Muhlenberg Twp (10266)

Zoning MIXED RES/COMM

Interior

Hot Water Electric

Heating Hot Water, Radiator, Baseboard - Electric

Cooling Central A/C, Ceiling Fan(s)

Heat Source Natural Gas, Electric

Exterior

Garage Spaces 16.0

Waterfront N

Water Access N

Roof Type Architectural Shingle

Accessibility None

Parking Type Parking Lot

Total Parking Spaces 16

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Muhlenberg

Others

Tax ID 66-5318-09-05-0068

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

Listed by Jonathan Fabian • Iron Valley Real Estate of Berks

Karen Scarpa

Agent | RMFR8838475

+1(732) 631-4514

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East Brunswick, NJ

Karen Scarpa

Karen Scarpa

2732 KUTZTOWN RD Reading, PA 19605

Key Details

Location

Interior

Exterior

Building

Schools

Others

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2732 KUTZTOWN RD

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