Listed By:
Springer Realty Group
Address
401 Walnut Street, Reading, PA
Price
$ 1,250,000
Property Attributes
  • MLS#PABK2033346
  • TypeCommercial
  • CountyBERKS
  • CityReading
  • AreaReading City
  • Zip19601
  • StyleApartment Building,Storage,Supermarket/Grocery Sto
  • Year Built1880
  • Taxes$ 8345
  • Price$ 1,250,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11000
  • Lot Size4,792 SqFt
Data Source:
Bright MLS
Property Description

Prime Commercial Investment in Reading City, terrific property to add to your portfolio. Presenting an exceptional investment proposition in the heart of Reading City: A multifaceted 4 building corner commercial property featuring 12 residential units, a Bodega, and a spacious Storage Unit that was once a Laundromat. This asset is not only a beacon of solid returns but also serves as an attractive tax shelter for savvy investors. Tenants shoulder the cost for electric, heat, and hot water, ensuring maximized returns for the owner. The storage room, previously functioning as a Laundromat, retains its separate water meter. Landlord pays water, sewer, and taxes. Property does need some TLC. The seller emphasizes showings for qualified buyers only, ensuring a smooth and efficient transition process. Buyer is welcome to present a reasonable lower offer for seller's consideration.

Price History
10/19/2023 Listed $1,450,000
11/16/2023 18% - $1,200,000

General Features

Sewer Public Sewer
Heating Forced Air
Cooling None
Utilities Electric Available,Natural Gas Available,Sewer Available,Water Available
Possession Negotiable
Zoning COMM
Construction Materials Stone
Exclusions Tenants Property
Year Built 1880
Electric 200+ Amp Service
Property SubType Mixed Use
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Electric
Business Type Apartment Building,Storage,Supermarket/Grocery Store
Accessibility None
County BERKS
New Construction No
Property Type Commercial Sale
Possible Use Apartment Building,Apartments,Convenience Store,Laundromat,Mixed Use,Multi-Family,Office
Water Access Y/N No
Property Use Investment
Status ACTIVE
Directions From US-422 E,Turn left onto N Third St,Turn right onto Elm St,Turn right onto N Fourth St,property is down on the left.
ModificationTimestamp 2024-04-13T18:46:03
City READING
Buyer Agent Compensation 1.5
Total Units 12
MLS Area Reading City (10201)
Lot Size Square Feet 4791.00
Tax Assessed Value 190900.0
Waterfront Y/N No
Street Name WALNUT
Tax Annual Amount 8345.0
Property Condition Below Average
Price Per Sq Ft 113.64
Acceptable Financing Cash,Conventional
Historic Y/N No
Lease Considered Y/N No
Vacation Rental Y/N No
Days on Market 178
Standard Status Active
Year Built Source Estimated
Tax Lot 3453
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Natural Gas
Hot Water Electric
Heating Y/N Yes
Street Suffix STREET
Central Air Y/N No

Exterior Features

Water Source Public
Type of Parking On Street
Land Use Code 4124
Water View Y/N No
Building Area Total 11000.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.11
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 19400.00
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 19601

Price
AVG $650K
$1.25M
Taxes
AVG $8,332
$8,345
Visits
AVG 96
146
Data Provided by Inside Real Estate®
Year Built
AVG 1912
1880
Walkscore
AVG 81
92
Data Provided by Walkscore® not using MLS data

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