Property Description
Income-Producing Investment Opportunity with Value-Add Potential in Reading, PA! Don't miss this fantastic opportunity to own a 4-unit semi-detached multifamily property at 115 Windsor Street, Reading, PA 19601! Ideally located in a convenient area, this property is already generating rental income and offers an excellent opportunity for investors looking to expand their portfolios or enter the multifamily market. Featuring four separate residential units, the property offers a desirable mix of two 1-bedroom apartments, two 3-bedroom apartments. Current monthly rents include $900 and $850 for each 1-bedroom unit, $1,000 and $1250 for each 3 -bedroom units, The one 3-bedroom unit is currently vacant and in need of renovation, creating an exciting value-add opportunity for a new owner to complete improvements, bring the unit back to its full potential, and increase rental income. With existing income already in place and some TLC needed, this property offers the best of both worlds: current cash flow and the opportunity to create additional value through strategic renovations and improvements. Investors can build on the property's existing rental performance while exploring ways to enhance its appeal, maximize its income potential, and strengthen its long-term investment value. The property annual gross income of $48,000 and annual operating expenses of approximately $14,747, including real estate taxes 3.047, insurance 2000, WSTR 3,600, permits 100, Owner electricity 1200, and property management 10%. Based on these figures, the reported net operating income (NOI) is $33,259, representing an approximate 9% cap rate. Conveniently located near downtown Reading, public transportation, shopping, restaurants, and everyday amenities, this property presents an attractive opportunity for experienced investors and first-time multifamily buyers alike. Whether you're looking to add another income-producing asset to your portfolio or take on a value-add project with the potential to improve future returns, 115 Windsor Street is an opportunity to invest, renovate, and unlock additional value! Schedule your showing today and explore the possibilities this investment property has to offer.