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1609 Mineral Spring Road

Reading, PA 19602

– beds
– baths
– sqft
4,791 sqft lot
1900 build

Welcome to 1609 Mineral Spring St! Real estate investors and enthusiasts, this profitable 5-unit apartment building is an opportunity you don't want to miss! Presenting a highly sought after 5-unit apartment building that not only generates a steady profit but also offers potential for rent growth. With long-term tenants and a prime location, this property has everything you need for a successful investment. Building consists of five units (all 1 bedrooms), each unit is currently occupied by long-term tenants, ensuring a stable cash flow from day one. Four out of the five units are on month-to-month leases offering flexibility for potential buyers. With its well-established long-term tenants, this apartment building is already generating a profitable income. However, the potential for rent growth presents an exciting opportunity to increase your return on investment. Rents in the area continue to rise, leverage this demand to increase rental rates and maximize profit! All tenants have great rental history. **Great Location** Situated in a highly desirable location, this property offers the convenience and amenities that tenants desire. Its proximity to schools, shopping centers, restaurants, public transportation, while still feeling secluded from the busy bustle of the inner city makes it an attractive choice for tenants seeking both comfort and accessibility. Don't miss out on this chance to add a highly profitable property to your portfolio. Contact us today to learn more and schedule a viewing.

Listing courtesy of BRIGHT / Iron Valley Real Estate of Berks

Last checked: Checking… • Last updated Apr 29, 2024 •

MLS# PABK2040232 —

The Building

Year Built:

1900
Year Built Source:

Estimated
New Construction:

No
Construction Materials:

Brick
Structure Type:

Twin/Semi-Detached
Architectural Style:

Converted Dwelling
Building Units Total:

4
Accessibility Features:

None
Foundation Details:

Stone
Total SqFt Source:

Assessor
Total Below Grade SqFt Source:

Assessor

Interior

Fireplace:

No
Living Area SqFt Source:

Assessor

Room Dimensions

Living Area SqFt:

0 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Conventional, Cash
Possession:

Immediate

Location

Directions:

Head west on Penn St toward N 5th St. Turn left at the 1st cross street onto S 5th St. Turn left at the 2nd cross street onto Franklin St. Turn right toward Perkiomen Ave. Turn right onto Perkiomen Ave. Turn left onto Mineral Spring Rd.
Latitude:

40.33193000
Longitude:

-75.90564000

The Property

Property Type:

Multi-Family
Property Sub Type:

Other
Lot Size Units:

Square Feet
Lot Size Acres:

0.11
Lot Size Source:

Estimated
Lot Size Dimensions:

0.00 x 0.00
Lot Dimensions Source:

Assessor
Lot SqFt:

4,791 Sqft
Exclusions:

Tenant's personal property
Zoning:

COM
Other Structures:

Above Grade, Below Grade
Water View:

No
Waterfront:

No
Water Oriented:

No
Water Access:

No
Navigable Water:

No
Tidal Water:

No
Land Use Code:

4200
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

16-5316-06-49-0170
Tax Year:

2023
Tax Lot:

0170
Tax Annual Amount:

$3,401
Tax Assessed Value:

$77,800
Year Assessed:

2023
School Tax:

1395.0
County Tax:

596.00
City/Town Tax:

1410.00
Total Taxes Pymnt Freq:

Annually

The Listing

Transaction Broker Compensation:

1
Buyer's Brokerage Compensation:

2%
Buyer Agency Comp Type:

% Of Gross
Buyer Agency Comp Selection:

Percent

Heating & Cooling

Cooling Type:

None
Central Air:

No
Cooling Fuel:

None
Heating:

Yes
Heating Type:

Baseboard - Electric, Radiator
Heating Fuel:

Electric, Natural Gas

Utilities

Sewer Septic:

Public Sewer
Hot Water:

Natural Gas, Electric
Water Source:

Public

Schools

School District Name:

Reading
School District Source:

Listing Agent

The Community

Pool:

No Pool

Parking

Garage:

No
Type of Parking:

None

Extra Units

Other Units:

Unit 1,Unit 2,Unit 4,Unit 5,Unit 3
Vacation Rental:

No
One Bedroom Units:

4
Two Bedroom Units:

1

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/1/24 Mar 1, 2024	Listed / Active	BRIGHT	$450,000

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This multifamily located in Southeast Reading, Reading, PA 19602 is currently for sale for $450,000. 1609 Mineral Spring Road is a – square foot multifamily with – beds and – baths. 1609 Mineral Spring Road is in the Southeast Reading neighborhood of Reading and has a WalkScore® of 63, making it somewhat walkable. This multifamily is in the attendance area of 16 Th And Haak Elementary School, Reading Intermediate High School, Southern Middle School, and Reading Senior High School.

Listing Courtesy of: BRIGHT and Iron Valley Real Estate of Berks.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.