1040 Birch StReading, PA 19604

For Sale
$235,000

Two-family rental, 13.53% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a two-property, single-family rental portfolio located in Reading, Pennsylvania. The portfolio boasts a strong 13.53% capitalization rate and a current net operating income (NOI) of $31,800, reflecting a 100% occupancy rate. Both properties are individually leased, providing a consistent and reliable income stream. The properties are located at 1040 Birch Street and 1208 Fidelity Street, Reading, PA 19604, within a desirable residential zone. Tenants are responsible for all utilities, minimizing owner expenses to property taxes and insurance. This is a Class B multifamily investment with a net lease structure. The portfolio offers significant value-add potential, particularly given Reading's recent designation as a college town with Alvernia University's new campus nearby. This presents a unique opportunity to reposition the properties into student housing without incurring construction costs. The strong rental market in Reading, coupled with the absence of rent control, ensures a stable and potentially growing income stream. The properties are situated in a convenient location with easy access to manufacturing, distribution, warehousing, and various retail establishments. This turnkey investment is ideal for those seeking a high-yield, low-maintenance property portfolio in a thriving Pennsylvania market. The properties are currently owner-operated and maintained, and long-term tenants are in place.

Highlights

  • Owner-occupied and well-maintained.
  • No rent control in Reading, allowing for easy rent increases and quick tenant turnover.
  • Strong NOI of $31,800 and a current cap rate of 12.3%, with 100% occupancy and long-term tenants.
  • Significant value-add opportunity due to Alvernia University's new campus nearby, creating strong student housing demand with zero construction costs needed.
  • Excellent location near manufacturing, distribution, warehousing, franchises, and big-box retail.

Property Details for 1040 Birch St

Property type
Multifamily properties, Residential income homes
Class
B
Buildings
2

Location Insight

City
Reading
County
Berks
State
Pennsylvania
Latitude
40.3510855
Longitude
-75.9130328
1040 Birch St, Reading, Pennsylvania

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1040 Birch St
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