1635 Centre Ave - Apartments FOR SALE


Reading, PA 19601- Northwest Reading
$2,700,000 USD
215-360-3540
1635 Centre Ave, Reading, PA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/52
null | 8.3% Cap Rate

1635 Centre Ave
Reading, PA 19601
Northwest Reading


HIGHLIGHTS

  • Diverse Revenue Streams
  • Ample Parking
  • Owner-Operated Laundromat
  • Long-Term Tenants
  • Value-Add to Rentable Rooms
  • Additional Income from PA Skills Machines

OVERVIEW

The In Town Motel, located at 1635 Centre Ave, Reading, PA, offers a prime investment opportunity for those seeking a high-return, multi-use property with multiple diversified income streams. This mixed-use asset features 5 commercial units on the first floor, including a tattoo parlor, barber shop, laundromat, restaurant, and notary business. These fully leased commercial spaces are occupied by reliable tenants, providing a consistent and predictable cash flow. A standout feature is the motel-owned laundromat, which generates significant and reliable monthly revenue. This turnkey business enhances the property's income stability and is included in the sale, offering the new owner an immediate revenue-generating asset. The property also includes 17 rentable motel rooms, each with private restrooms. The motel units maintain high occupancy rates, reflecting consistent demand and offering immediate returns for the new owner. Many of these rooms are occupied by long-term "tenants," and most stays average 12-20 months. Additionally, the property features a private parking lot with 31± spaces, providing ample parking for tenants and customers. This is a key advantage in the area, where parking is limited, making the property even more desirable for current and future tenants.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

22

PRICE/UNIT

$122,727

CAP RATE

8.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

R-3

APN/PARCEL ID

14-5307-26-69-3316

ASK ABOUT THIS PROPERTY

Beau McGettiganKW Commercial | Philadelphia Suburban WestMore Info
215-360-3540

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Beau McGettiganKW Commercial | Philadelphia Suburban WestMore Info
215-360-3540

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.