1600 Elizabeth AveReading, PA 19605

Property Details for 1600 Elizabeth Ave

Year built

1900

Lot size

0.13 AC

Property size (Sq ft)

1,000 SF

Property type

Turn key restaurants

APN

5319-17-20-0200

APU

531917200200

Description

This exceptional Reading, PA property presents a rare dual-income opportunity, combining a thriving commercial space with a separate residential home. Located at 1600 Elizabeth Avenue, the 3,586 square foot commercial building sits on a 0.13-acre lot and boasts high visibility, making it an ideal investment. Currently leased to a restaurant tenant at $4,500 per month, the commercial space includes a dedicated garage and ample off-street parking. The restaurant's lease ensures a consistent income stream. Adjacent to the commercial building is a three-bedroom, one-bathroom residential home, recently vacated after generating $2,275 in monthly rental income. This property offers significant potential for immediate cash flow and long-term appreciation. The combination of a stable commercial tenant and the potential for residential rental income makes this a truly unique investment opportunity in a desirable location. The property's size and layout provide flexibility for future uses and expansion, catering to a wide range of investor strategies. The high visibility location ensures strong tenant appeal and potential for increased rental income. This is a turnkey investment ready for immediate returns. Don't miss this chance to acquire a property with exceptional income potential and a prime location in Reading, PA. The asking price is $675,000.

• CAP approach

  CAP return

  Valuation

  6%

  $226,894

  6.5%

  $209,441

  7%

  $194,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $193,232

  Geo Method

  $329,263

• Alternative Use

  Use

  Valuation

  Residential

  $176,671

  Hospitality

  $161,830

  Educational

  $134,641

  Medical

  $139,271

  Retail

  $209,441

Location Insight

City

Laureldale

County

Berks

State

Pennsylvania

Latitude

40.39

Longitude

-75.9115

CBSA code

39740

CBSA name

READING, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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