525 Penn St, Reading, PA 19601
- $1,175,000
- List Price
- $1,175,000
- Price Change
- ▼ $75,000 1784677175
- Days on Market
- 191
- Status
- ACTIVE
- MLS#
- PABK2068944
- Lot Size (Acres)
- 0.1
- Year Built
- 1880
- County
- Berks
- School District
- Reading
Property Description
525 Penn Street in Reading City is located on the heaviest traveled block within the city. This building is situated one block off of the Berks County Court house and Santander Arena. Most outside public events throughout the year are held on the 500 block. 525 Penn St. building has a total of 6 units, 4 units are leased, generating incoming with a cap rate over 8%. The building itself is located in the Commercial-Core, historic district of Reading. The roof has been replaced in the past two years, and each unit has its own central air/heat system, for easy utility billing. Downtown Penn St. has recently added Alvernia University to the 400 block, and a new state of the art hospital is scheduled to be coming to the American House on the corner of the 300 block. In the past few weeks, several sections of the 400 block have been purchased and the improvement and revitalization of Penn St has accelerated. The benefits of 525 Penn St. is that the property is turnkey and incoming generating, leaving no delay for a build out or renovation process. This property is ahead of the rest and is located among the best. All documents available to show you the analytics of success this building has to offer.
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Additional Information
- Area
- Reading City (10201)
- Stories
- 5
- School District
- Reading
- Flooring
- Ceramic Tile, Hardwood, Laminated, Luxury Vinyl Plank, Carpet, Wood
- View
- City
- Heating
- Central
- Heating Fuel
- Electric
- Cooling
- Central A/C
- Roof
- Flat, Rubber
- Utilities
- Electric Available, Cable TV Available, Phone Available, Sewer Available, Water Available
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Coldwell Banker Realty. Contact: 6103739900
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