Property
Reading, PA 19601 1500 Centre Avenue
$450,000
27 more
Presented By: KW Empower
Beds • 3
Garage • 2
Home Details
Investor Special! Welcome to 1500 Centre Ave a fully rented, cash-flowing multi-unit property perfect for savvy investors. This well-maintained building features four residential units and a rented garage, delivering five separate income streams. The property brings in a Gross Annual Rent Income of $48,900 based on the current rent roll, offering strong returns from day one. Each residential unit has separate utilities, and the common areas are on their own dedicated electric meter, simplifying operations and reducing owner expenses. Upgrades include complete renovations to two residential units(1F and 2R), common area stairwell and the garage, along with exterior improvements that enhance both curb appeal and long-term value. The property is professionally managed by a property management company, which is open to continuing service with the new owner for a smooth transition. This is a turnkey investment opportunity in a high-demand rental market with stable tenants and consistent cash flow. Dont miss your chance to add this strong performer to your portfolio. Schedule your private tour today!
Presented By: KW Empower
Interior Features for 1500 Centre Avenue
Bedrooms
Three Bedroom Units Count
Other Interior Features
LivingAreaSourceAssessor
BasementUnfinished, Garage Access, Interior Access
Basement (Y/N)Yes
Central Air Y/NNo
Fireplace Y/NNo
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterElectric, Natural Gas
Total Stories3
General for 1500 Centre Avenue
Acceptable FinancingCash, Conventional
AccessibilityNone
Architectural StyleBi-level
Avg. Electric Per Month52.0
Avg. Gas Per Month31.88
Avg. Water Per Month279.0
Cap Rate7.23
CityREADING
Construction MaterialsBrick
Cool FuelElectric
CoolingWindow Unit(s)
CountyBERKS
DirectionsPut address in GPS. On the corner of Amity St and Centre Ave. Across from the school parking lot.
DisclosuresAgent has Financial Interest, Owner RE Licensee
ExclusionsAny of the sellers personal Items
Garage Spaces2.00
Garage Y/NYes
HeatingRadiator
Lease TypeMonth to Month
Location TypeCorner Lot/Unit
Lot Size Square Feet1742.00
Lot Size UnitsSquare Feet
MLS AreaReading City (10201)
ModificationTimestamp2025-05-21T15:35:20
MunicipalityREADING CITY
Net Operating Income32549.45
New ConstructionNo
Number Of Units Total4
Number of Units Leased5
NumberOfUnitsVacant0
One Bedroom Units Count1
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1, Unit 2, Unit 4, Unit 5, Unit 3
OwnerPaysCommon Area Maintenance, Management, Insurance, Pest Control, Repairs, Snow Removal, Taxes - Personal property, Taxes - Real Estate, Trash Collection, Water
OwnershipFee Simple
PossessionSettlement
Price Per Sq Ft Total AG148.51
Property SubtypeQuadruplex
Property TypeMulti-Family
School DistrictREADING
SewerPublic Sewer
Single Room Units Count2
Standard StatusComing Soon
StatusCOMING SOON
Structure TypeEnd of Row/Townhouse
Tax Annual Amount2452.0
Tax Assessed Value54400.0
Tax Lot0416
Tax Year2025
Total SQFT3030
Two Bedroom1
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1915
Year Built SourceAssessor
ZoningR-3
Exterior for 1500 Centre Avenue
# of Attached Garage Spaces2
Exterior AmenitiesFire Escape, Exterior Lighting, Sidewalks, Street Lights, Gutter System
Foundation DetailsConcrete Perimeter
Garage FeaturesAdditional Storage Area, Covered Parking
InclusionsTenants and Tenants belongings.
Land Assessed Value13000.00
Land Use Code138R
Lot Dimensions0.00 x 0.00
Lot FeaturesCorner
Lot Size Acres0.04
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Total Parking Spaces2
Type of ParkingAttached Garage, Alley, On Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Additional Details
Price History
Ebonie Clerier
Associate