Details:  

Size:	Ownership: Mixed Use
R/B/B:	SF/SM:

Building Amenities:
Laundry Room; Alarm; Wheelchair Access;

Broker Summary:

The Saylor Building is a 26-unit multi-family with 7 storefronts for sale in Reading PA. The current rent roll is $14,632 per month or $175,580 per year. This offers a cap rate of 7.99%. If the building were fully occupied with residents and retail storefronts, the current rent roll would be $16,667 and $200,004 for monthly and yearly income respectively. This increases the cap rate to 9.77%.

The Saylor building currently has four apartments and one efficiency unit vacant. Two of the four vacant units are occupied by the super who is leaving at the end of July 2010. The average rent for an apartment is $456 per month and the retail space is $665 per month when the building if is fully occupied based on the projected rent roll.

The Saylor Building’s retail storefronts are about 500 square feet each and the residential apartments average 574 square foot each excluding the efficiency unit of 180 square feet. There are four studios, 15 one-bedrooms, and three two-bedrooms.

The building will be delivered without a super offering the opportunity to rent both apartments and hire a local handyman on an as-needed basis.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.