1340 Lancaster Avenue

Closed 10/31/18

Sold

Last Sold Price

$270,000

6 beds4 baths3,342 sqft

1340 Lancaster Ave, Reading, PA 19607

Multi FamilyProperty Type

0.12 acresLot Size

1945Year Built

$81/sq ftPrice per sq ft

8 carsParking Spaces

Description

Wonderful opportunity to invest in a solid property. This well-maintained 5-unit building is absolutely ready for you to take over ownership and the income is solid. 4 very large apartments and a commercial space on the lower level. The apartments are modern, include tile baths and the kitchens are well-appointed and in great condition. The commercial space has a lot of off street parking as well. There is economical gas heat. The tenants pay their own electricity. The tenants reimburse the owner...Wonderful opportunity to invest in a solid property. This well-maintained 5-unit building is absolutely ready for you to take over ownership and the income is solid. 4 very large apartments and a commercial space on the lower level. The apartments are modern, include tile baths and the kitchens are well-appointed and in great condition. The commercial space has a lot of off street parking as well. There is economical gas heat. The tenants pay their own electricity. The tenants reimburse the owner for sewer and trash. Coin-op laundry in the basement and the owner brings in about $1,000/year. Definitely a building worth checking out.

Listing closed: 10/31/2018 12:00 AM • Source: BRIGHT, MLS#: 1002502136

Recent comparable sales

Median sold price

$285,000

Avg days on market

Sale-to-list ratio

93.6%

1/38

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6
Bedrooms: 3
Bathrooms: 3,000
Square Feet: 0.02
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Bedrooms: 3
Bathrooms: 2,928
Square Feet: 0.06
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32 South 11th Street, Reading, PA 19602

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Bedrooms: 3
Bathrooms: 2,816
Square Feet: 0.05
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1120 Elm Street, Reading, PA 19604

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Square Feet: 0.05
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222 North 6th Street, Reading, PA 19601

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1396 Perkiomen Avenue, Reading, PA 19602

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Bedrooms: 4
Bathrooms: 2,784
Square Feet: 0.05
Acres

232 South 3rd Street, Reading, PA 19602

$330,000

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Bedrooms: 4
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Square Feet: 0.06
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Sold 01/09/26

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Bedrooms: 4
Bathrooms: 3,220
Square Feet: 0.15
Acres

9496 Reading Road, Reading, OH 45215

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Location

Listing Courtesy of RE/MAX Of Reading

Sold By Long & Foster Real Estate, Inc.

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$1,891 per month

30 year fixed, 7.03% Interest

Principal and Interest

$1,441

Property Taxes

$450

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Property Information for 1340 Lancaster Avenue

Property Details

Taxes: $5,401 / year
MLS Type: Multi-Family / Fee Simple
County: Berks County
Tax ID Number: 54-5306-17-21-1408
Ownership: Fee Simple
Condo Coop Association: No
HOA: No
Structure Type: Detached
Style: Other
Waterfront: No
Garage: No
Subdivision: NONE AVAILABLE
Subdivision: NONE AVAILABLE (BERKS PA)
Cross Street: MCARTHUR AVE
Municipality: KENHORST BORO
Total Parking Spaces: 4
Central Air: No
Basement: Yes
Above Grade Finished SQFT: 3,342.00
Above Grade Fin SQFT Source: Estimated
New Construction: No
Property Condition: Good

Building Information

Year Built: 1945
Lot Size: 0.12 AC / 5,227 SF

Location

School District Name: GOVERNOR MIFFLIN
School District County ID: 300200397317

High School: GOVERNOR MIFFLIN (BERKS PA)
County: BERKS
MLS Area: Kenhorst Boro (10254)

Waterfront / Water Access

Water View: No
Water Access: No

Water Oriented: No
Navigable Water: No
Tidal Water: No
Riparian Rights Y/N: No

Taxes and Assessment

Tax Year: 2018
Tax Assessed Value: $130,600

Improvement Assessed Value: $70,200
Land Assessed Value: $60,400
Land Use Code: 4118
Zoning: MIXED
Tax Lot: 1408

Lease Information

Concessions: No

Unit Information

One Bedroom Units Count: 2
Two Bedroom Units Count: 2

Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3

Rooms

Room List: Primary Bedroom

Multi Family

Unit 1

Type: Unit 1
Unit Type Occupied YN: Yes

Beds Total: 0
Half Baths Count: 1
Full Baths Count: 0
Unit Type Baths Total: 1
Unit Type Features: MTH TO MTH
Total Rooms: 2

Unit 2

Type: Unit 2
Unit Type Occupied YN: Yes

Beds Total: 1
Half Baths Count: 0
Full Baths Count: 1
Unit Type Baths Total: 1
Unit Type Features: MTH TO MTH
Total Rooms: 3

Unit 3

Type: Unit 3
Unit Type Occupied YN: Yes

Beds Total: 2
Half Baths Count: 0
Full Baths Count: 1
Unit Type Baths Total: 1
Unit Type Features: MTH TO MTH
Total Rooms: 5

Unit 4

Type: Unit 5
Unit Type Occupied YN: Yes

Beds Total: 1
Half Baths Count: 0
Full Baths Count: 1
Unit Type Baths Total: 1
Unit Type Features: MTH TO MTH
Total Rooms: 3

Unit 5

Type: Unit 4
Unit Type Occupied YN: Yes

Beds Total: 2
Half Baths Count: 0
Full Baths Count: 1
Unit Type Baths Total: 1
Unit Type Features: 10/31/2018
Total Rooms: 5

Financial Information

Expenses

Insurance Expense: $1,358
Water Sewer Expense: $1,200

Annual Heating Expense: $2,183
Electric Expense: $319
Annual Gross Expense: $10,461

Financial Information

Gross Income: $37,240
Income Includes: Laundry

Building Info

Total Finished SQFT: 3,342.00
Total SQFT: 3,342.00

Construction Materials: Vinyl Siding, Stucco
Roof: Pitched, Shingle
Ext Main Mid-res: http://bright-media.brightmls.com/bright/images/0000/3010/1731/3859/301017313859_512_384_WM_9BakH7ziy1MicOEH.jpg
Flooring Type: Wood, Fully Carpeted, Vinyl, Tile/Brick, Laminated
Basement Type: Partial, Unfinished, Outside Entrance
Storage: Basement

Lot / Land Information

Lot Size Dimensions: IRREGULAR
Sign On Property: Yes

Parcel ID: 1526650

Parking

Type Of Parking: On Street
Total Non-Garage Parking Spaces: 4

Parking Features: Street

Interior Features

Interior Features: Store/Office
Fireplace: No

Accessibility Features: None
Laundry Type: Common, Has Laundry
Virtual Tour URL Unbranded: http://tour.circlepix.com/home2/RH863W/1340-LANCASTER-AVE-READING-PA-1002502136

Exterior Features

Exterior Features: Sidewalks, Street Lights
Pool: No Pool

Other Structures: Above Grade

Utilities

Utilities: Cable TV Available
Heating: Yes

Cooling Type: None
Heating Type: Gas, Hot Water, Radiator, Zoned
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Water Source: Public
Sewer Septic: Public Sewer
Electric Service: Circuit Breakers

Confidential Data

Listing Office

List Agent AOR: Reading-Berks Association of REALTORS

Property History for 1340 Lancaster Avenue

Date	Event & Source	Price	Appreciation
Oct 31, 2018	Closed (Public Record) Public Record #633840015	$270,000	—
Oct 31, 2018	Closed BRIGHT #1002502136	$270,000	—
Sep 24, 2018	Pending BRIGHT #1002502136		—
Sep 5, 2018	Listed (Active) BRIGHT #1002502136	$299,900	—

Date	Event & Source	Price
10/31/2018	Closed (Public Record) Public Record #633840015	$270,000
10/31/2018	Closed BRIGHT #1002502136	$270,000
09/24/2018	Pending BRIGHT #1002502136	—
09/05/2018	Listed (Active) BRIGHT #1002502136	$299,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1340 Lancaster Avenue

Taxable ValueLand$60,400Additions$70,200Total$130,600

Tax Record2026$1,936 ($161 / month)

Home Facts

Total Finished SqFt5,062 SqFtAbove Grade Finished SqFt5,062 SqFtStories2Lot Size5,227 SqFtStyleMulti-Family Res (5+ Units)Year Built1945CountyBERKSAPN54530617211408

Schools near 1340 Lancaster Avenue

This home is within Governor Mifflin School District.


Rating	School	Type	Grades	Distance
5/10	Mifflin Park El School	Public - Serves this home	K to 4	0.9 mi
6/10	Intermediate School	Public - Serves this home	5 to 6	0.8 mi
4/10	Governor Mifflin Middle School	Public - Serves this home	7 to 8	0.9 mi
6/10	Governor Mifflin Senior High School	Public - Serves this home	9 to 12	0.8 mi
NR	New Story	Private - Choice school	1 to 7	0.3 mi
NR	Reading Sda Jr Academy	Private - Nearby school	K to 10	0.3 mi
NR	Opportunities School	Private - Nearby school	1 to 8	0.7 mi


Rating	School	Distance
5/10	Mifflin Park El School PublicK to 4 Serves this home	0.9 mi
6/10	Intermediate School Public5 to 6 Serves this home	0.8 mi
4/10	Governor Mifflin Middle School Public7 to 8 Serves this home	0.9 mi
6/10	Governor Mifflin Senior High School Public9 to 12 Serves this home	0.8 mi
NR	New Story Private1 to 7 Choice school	0.3 mi
NR	Reading Sda Jr Academy PrivateK to 10 Nearby school	0.3 mi
NR	Opportunities School Private1 to 8 Nearby school	0.7 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 1340 Lancaster Avenue, Reading, PA 19607	$270,000	6	4	3,342	5,227
1338 Lancaster Avenue, Reading, PA 19607	$130,000	3	1	1,468	3,049
1336 Lancaster Avenue, Reading, PA 19607	$129,750	3	2	1,454	2,614
1332 Lancaster Avenue, Reading, PA 19607	$86,000	3	2	1,300	3,485
1334 Lancaster Avenue, Reading, PA 19607	$110,000	3	1	1,300	3,049
7 Mc Arthur Avenue, Reading, PA 19607	$150,000	–	–	6,107	–
1328 Lancaster Avenue, Reading, PA 19607	$245,000	2	3	2,780	–
1400 Lancaster Avenue, Reading, PA 19607	$380,000	–	–	–	5,662
1404 Lancaster Avenue, Reading, PA 19607	–	3	1	1,088	3,049
1326 Lancaster Avenue, Reading, PA 19607	$150,000	3	1	1,258	3,485
1341 Lancaster Avenue, Reading, PA 19607	$495,000	–	–	7,752	–
1324 Lancaster Avenue, Reading, PA 19607	$113,900	2	2	1,356	3,049
1406 Lancaster Avenue, Reading, PA 19607	$119,000	3	3	1,200	3,049
1401 Lancaster Avenue, Reading, PA 19607	$179,000	–	–	2,439	–
1408 Lancaster Avenue, Reading, PA 19607	$69,900	3	1	1,232	3,049
1347 Fern Avenue, Reading, PA 19607	$87,000	3	1	1,176	2,614

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Listing Courtesy of RE/MAX Of Reading

Based on information from one of the following Multiple Listing Services: BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Reading, PA

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