1601 Mineral Spring Rd, Reading, PA 19602
- $575,000
- 6,775
- SqFt
- List Price
- $575,000
- Price Change
- ▼ $10,000 1783406450
- MLS#
- PABK2070500
- Status
- ACTIVE
- Type
- Multifamily
- Total Units
- 3
- City
- Reading
- Area
- Reading City (10201)
- County
- Berks
- Living Area
- 6,775
- Lot Size
- 5,227
- Year Built
- 1910
Property Description
Six unit investment opportunity in the Hessian Camp section of Reading delivering strong cash flow and long term upside. The property consists of six two bedroom one bath units with multiple updates already completed, offering a stabilized asset with additional value add potential. This offering includes 1601 Mineral Spring Road, 1603 Mineral Spring Road, and 1601 Rear Mineral Spring, which functions as a dedicated off street parking lot with space for approximately twelve vehicles. Ample parking is a key advantage that supports tenant retention and enhances overall asset value. Tenants are responsible for heat, electric, and hot water, helping minimize operating expenses. Owner expenses are limited to water, sewer, and trash. The property features a newer roof, updated mechanical systems, and efficient gas furnaces, contributing to lower maintenance costs and reliable performance. Located in a high demand rental area, this is a turnkey investment with immediate income and future upside. Be sure all parcel IDs are included in any agreement of sale. Opportunities like this are limited, especially with built in parking and strong return potential. This is a strategic addition to any investment portfolio.
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Additional Information
- Property Taxes
- $2,770
- Acres
- 0.12
- Cooling
- None
- Living Area
- 6,775
- Lot Size
- 5,227
- Region
- Reading City (10201)
- School District
- Reading
- Sewer
- Public Sewer
- Style
- Colonial
- Total Units
- 3
- Zoning
- RESIDENTIAL
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Listing courtesy of Iron Valley Real Estate of Berks. Contact: (484) 450-8771
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