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Berks - Multifamily April 09
Berks - Multifamily April 09
The Saint Lawrence Hall - 3400 Saint Lawrence Rd., Reading, PA 19606
Property Type: Special Purpose Price: $150,000 http://listing.loopnet.com/16053339
Religious Facility Price/SF $14.29
Building Size: 10,500 SF LoopNet ID: 16053339
Status: Active
Property Description:
Large open spaces thorough out this property, first floor with open ceiling heights of over 20' with clear span. Great for meetings, possible loft apartment
conversion. Building consists of two parts. The first section is a former church built in the late 1800's and includes a large sanctuary on the first floor and
two large rooms below once used as the kitchen and most recently used as living space. The second building section, Three stories tall, was built in 1924
as an add on to the sanctuary and used as the Boro community Center for many years. Most recently, the lower level of this building housed a dinner
theater. There is also an old two lane bowling alley in the basement level.
For Sale by Owner: MultiFamily: Foxcroft Manor - 1305 Hampden Blvd, Reading, PA 19604
Property Type: Multifamily Price: $659,000 http://listing.loopnet.com/15803270
Garden/Low-Rise Price/Unit: $73,222.22
No. Units: 9 Occupancy: 100%
Building Size: 9,472 SF LoopNet ID: 15803270
Status: Active
Property Description:
For Sale by owner:This gorgeous 9-unit has been reduced in price. Please contact the listing agent for more details. Originally built as the Foxcroft Manor
for the Reading beer baron of the Deppen Brewing Co. Tastefully restructured into 9 beautiful apartments in the premier area of Hampden Heights.
Quality craftsmanship is evident throughout this stone mansion with random plank hardwood flooring, original tile baths, open foyer with palladian
window and original chandelier. Six units make up the Main Building, with two addtional in the Carriage House and one Cottage. Several apts have large
balconies and off street parking. All apartments are rented with leases and in excellent condition. Adjacent to MLS#5383825, possible package sale for
both multi-units totaling 15 rentals plus laundry income. Serious inquiries and qualified buyers need to submit financial statement. **I'm willing to work
with brokers with clients**
Reading Outlet Center Building #1 - 801 North 9th Street, Reading, PA 19604
Property Type: Multifamily Price: $1,795,000 http://listing.loopnet.com/15511579
Mid/High-Rise Price/Unit: $15,474.14
No. Units: 116 Cap Rate: 12.00%
Building Size: 320,000 SF LoopNet ID: 15511579
Year Built: 1904 Status: Active
Property Description:
Former Reading Outlet Center Building #1 totaling 320,000 square feet on 2.4 acres, an entire city block!! All heavy timber construction in need of
complete restoration/renovation. Property is zoned high density residential/retail outlet. This property can qualify for Historic Tax Credits, New Market Tax
Credits, and most PHFA financing. Preliminary plans done for building which includes 116 apartments and 60,000 square feet of retail space. SERIOUS
REDEVELOPERS ONLY!!! This is a major project for experienced and/or well-funded parties only. See attached proposed construction budget and
income/expense numbers!!
Reading Outlet Center Building #10 - 702 North 8th Street, Reading, PA 19604
Property Type: Multifamily Price: $1,095,000 http://listing.loopnet.com/15512001
Mid/High-Rise Price/Unit: $10,950.00
No. Units: 100 LoopNet ID: 15512001
Building Size: 120,000 SF Status: Active
Year Built: 1906
Property Description:
120,000 Square foot heavy timber building surrounding two courtyards. 20,000 square feet per floor with 6 floors. One passenger elevator and one freight
elevator, four loading docks. Building was last used at part of the Reading Outlet Center about 5 years ago but has been vacant since that time. Building
has a new $200,000 roof and roof deck installed but suffered some interior damage due to leakage. Nice floorplans, great views, lots of original wood
flooring. Phase I and Phase II environmentals are done. Some preliminary floorplans are done for 100 apartments and 20,000 square feet of retail space.
SERIOUS REDEVELOPMENT INQUIRIES ONLY!! Property needs complete renovation/restoration. Rentometer places potential rents as high as $1198
(rentometer.com) per unit even though attached projections and cash flows are only at about $600 per month. That means the Net Income could be
about $300,000 higher than included projections!! Building can qualify for a 39% New Market Tax Credit and either a 10% or 20% Historic Tax Credit,
and/or PHFA financing!! Owner will consider holding some financing!! Owner just finished appealing taxes from $94,000 down to $450 PER YEAR!!
4th & Elm Street Complex - 225 - 243 N 4th Street, Reading, PA 19601
Property Type: Special Purpose Price: $1,130,000 http://listing.loopnet.com/15075742
Special Purpose (Other) Price/SF $12.10
Building Size: 93,400 SF LoopNet ID: 15075742
Year Built: 1930 Status: Active
Property Description:
Keystone Opportunity Zone at the 229 N 4th Street Address! see http://www.newpa.com/default.aspx?id=346 for more details. This offering consists
of four deeded properties, beginning at the corner of 4th & Elm Street and extending South on 4th Bldg #1 (243 N 4th St) is a former School house
with parking for 25+ cars. The building is stable, but will require extensive rehabilitation. There is great potential for redevelopment, just blocks from the
Goggle Works artist collony. Bldg #2 (229 N 4th St) is adjcent to the school building to the South. It was formerly used as the City Garage and consists of
a two story garage with indoor parking for over 30 cars on each floor. The lower level is being leased as an auto repair shop. On the same deed as the
garage, is a three unit apartment building, reciently updated from the ground up. New Electrical service, new plumbing, and fully occupied. Bldgs #3&4
(225 & 227 N 4th St) are two apartment buildinjgs with three units each. These two buildings were also reciently updated. New Electrical service, new
plumbing. Will be delivered with Occupancy permit.