• 116 LAFAYETTE ST, READING, Pennsylvania, 19605

  • $189,900
Very large and grand colonial 2.5 story single building on a large quarter acre lot formerly known as the Unicorn Restaurant & currently used as a 2 unit residential building with rented space for as storage only. Large foyer entrance with the former main dining room to the left. Unit 1 is on the first floor right has a 4 year tenant paying $800/Month on a M/M lease & features a large studio unit with a large modern kitchen & large bath with it's own laundry. Unit 2 is the former owner's unit & is located on the 2nd & 3rd floors and is currently vacant but was rented for $1,100/Month & features 3 BRS on the 2nd floor with a full kitchen & access to a large composite floored deck with PVC railings & stairs to the side yard. 3rd floor could be a fabulous 4th BR or a large living room complete with a two sided gas fireplace. There's a large addition to the left side of the building with it's own entrance which was the former kitchen & is currently being rented as storage to a neighbor at $100/Month. Current updates include a newer high efficiency tankless gas boiler. 1 Gas hot water heater. New shingle roof in 2014, 2-2 AMP electrical services with breaker panels. Double pane replacement windows. 2 Central A/C units in the basement are not functioning and serviced the 1st floor only. This is a commercial building in a residential neighborhood close to all major roads, shopping & schools and is a lot of property for the money! Many possible uses with room to add more units but you must check with Muhlenberg Twp Zoning office for approval. Total Monthly rent is $2,000. Cap Rate 8%.
(610) 670 - 2770
CableTVAvail,Replacement Windows
PostedNovember 22, 2017