237 West Lancaster Avenue

Closed 5/18/20

Sold

Last Sold Price

$360,000

4,267 sqft

237 W Lancaster Ave, Reading, PA 19607

Multi FamilyProperty Type

0.2 acresLot Size

1900Year Built

$84/sq ftPrice per sq ft

7 carsParking Spaces

Description

Excellent 5 unit Investment opportunity on a highly visible corner lot in the borough of Shillington. Relocate, or start a new business in the main level office space with road frontage on Lancaster Ave. There is approximately 1034 sq. ft. of immediately available office space, consisting of a 20 x 28 main level office room & additional office/storage room and bath in the lower level. The main building also has 2 residential apartments, 1 on the main level & 1 on the 2nd and 3rd floors. There is...Excellent 5 unit Investment opportunity on a highly visible corner lot in the borough of Shillington. Relocate, or start a new business in the main level office space with road frontage on Lancaster Ave. There is approximately 1034 sq. ft. of immediately available office space, consisting of a 20 x 28 main level office room & additional office/storage room and bath in the lower level. The main building also has 2 residential apartments, 1 on the main level & 1 on the 2nd and 3rd floors. There is a 2nd detached building that includes 2 apartments and 5 garages renting @ $75 each. The units are separately metered for heat, hot water and electric. Recent upgrades include roof, vinyl siding, some replacement windows. The units are clean and modern with updated kitchens & bathrooms. This building is ideal for a commercial owner occupant who wants to generate additional income, or buy for an investment with an 11% return. The commercial space is vacant and available for immediate occupancy, all 4 residential units are occupied.

Listed by: Mark J Shanaman 484.256.7956 mshanaman@goberkscounty.com • RE/MAX Of Reading
Listed by: Randy L Weidner 610.670.2770 RWeidner@GoBerksCounty.com • RE/MAX Of Reading

Listing closed: 05/18/2020 12:00 AM • Source: BRIGHT, MLS#: PABK344532

Recent comparable sales

Median sold price

$375,000

Avg days on market

Sale-to-list ratio

100.3%

1/2

$400,000

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Bathrooms: 4,338
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35 Woodrow Avenue, Reading, PA 19608

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108 South Kenhorst Boulevard, Reading, PA 19607

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Acres

1407 Lancaster Avenue, Reading, PA 19607

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Bedrooms: Unavailable
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2214 Noble Street, Reading, PA 19609

a view of a house with a backyard and a patio

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Bedrooms: Unavailable
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Acres

622 North 3rd Street, Reading, PA 19601

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Location

Listing Courtesy of RE/MAX Of Reading

Sold By EXP Realty, LLC

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$2,286 per month

30 year fixed, 6.71% Interest

Principal and Interest

$1,860

Property Taxes

$426

HOA Dues

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Property Information for 237 West Lancaster Avenue

Property Details

Taxes: $5,113 / year
MLS Type: Multi-Family / Fee Simple
County: Berks County
Tax ID Number: 77-4395-07-58-5987
Ownership: Fee Simple
HOA: No
Structure Type: Detached
Style: Converted Dwelling
Waterfront: No
Garage: Yes
Municipality: SHILLINGTON BORO
Total Parking Spaces: 5
Central Air: Yes
Basement: Yes
Above Grade Finished SQFT: 3,751.00
Above Grade Fin SQFT Source: Estimated
Below Grade Finished SQFT: 516.00
Below Grade Fin SQFT Source: Estimated
Below Grade Unfinished SQFT: .00
Below Grade Unfin SQFT Source: Assessor
Total Below Grade SQFT: 516.00
Total Below Grade SQFT Source: Estimated
New Construction: No

Building Information

Residences: 4
Year Built: 1900
Lot Size: 0.20 AC / 8,712 SF

Location

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

SchoolDistrictSource: Listing Agent
County: BERKS
MLS Area: Shillington Boro (10277)

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: $119,200

Year Assessed: 2019
County Tax: $913
Improvement Assessed Value: $81,700
City Town Tax: $851
Land Assessed Value: $37,500
Clean Green Assessed: No
Land Use Code: 150
Zoning: COM
Tax Lot: 5987
School Tax: $3,350
Automatically Update Tax Values Y/N: No

Lease Information

Owner Pays: Taxes - Real Estate, Water, Sewer, Insurance, Gas, Electricity, Trash Collection
Concessions: Yes

Concessions Amount: $10,000

Unit Information

Single Room Units Count: 0
One Bedroom Units Count: 3

Two Bedroom Units Count: 1
Three Bedroom Units Count: 0
Units Leased Count: 5
Number Of Units Vacant: 1

Financial Information

Expenses

Operating Expense: $12,307
Water Avg Month: $247

Water Prev 12 Months: $2,962
Electric Avg Month: $32
Electric Prev 12 Months: $382
Gas Avg Month: $90
Gas Prev 12 Months: $1,078

Financial Information

Gross Income: $55,908
Net Operating Income: $43,601

Annual Rental Income: $55,908
Income Includes: Apartment Rentals, Professional Offices
Cap Rate: 11.10
Existing Lease Type: Long Term, Month to Month

Building Info

Building Units Total: 4
Total Finished SQFT: 4,267.00

Total Finished SQFT Source: Estimated
Tax Total Finished SQFT: 1,751.00
Total SQFT: 4,267.00
Total SQFT Source: Estimated
Construction Materials: Vinyl Siding, Stick Built
Roof: Asphalt, Shingle
Ext Main Mid-res: http://bright-media.brightmls.com/bright/images/0000/3018/7377/3255/301873773255_512_384_WM_qN6CrQNZvO1M2jZk.jpg
Basement Type: Full

Lot / Land Information

Lot Size Source: Assessor
Lot Size Dimensions: 0.00 x 0.00

Location Type: Downtown
Parcel ID: 1563265

Parking

Type Of Parking: Attached Garage, On Street, Off Street
Num of Attached Garage Spaces: 5

Total Garage Spaces: 5
Total Non-Garage Parking Spaces: 2
Garage Features: Garage - Rear Entry

Interior Features

Fireplaces Count: 0
Accessibility Features: None

Exterior Features

Pool: No Pool
Other Structures: Above Grade, Below Grade

Utilities

Utilities: Cable TV
Heating: Yes

Cooling Type: Central A/C
Cooling Fuel: Electric
Heating Type: Hot Water
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Water Source: Public
Sewer Septic: Public Sewer

Confidential Data

Listing Office

List Agent AOR: Reading-Berks Association of REALTORS
List Agent URL: https://mshanaman.remax.com

Property History for 237 West Lancaster Avenue

Date	Event & Source	Price	Appreciation
May 18, 2020	Closed (Public Record) Public Record #673649809	$360,000	—
May 18, 2020	Closed BRIGHT #PABK344532	$360,000	—
Mar 8, 2020	Pending BRIGHT #PABK344532		—
Jan 10, 2020	Price Change BRIGHT #PABK344532	$385,000	—
Jul 9, 2019	Listed (Active) BRIGHT #PABK344532	$449,000	—
Jan 15, 2001	Closed BRIGHT #PABK187724	$132,900	—
Oct 19, 2000	Pending BRIGHT #PABK187724		—
Sep 20, 2000	Listed (Active) BRIGHT #PABK187724	$129,900	—

Date	Event & Source	Price
05/18/2020	Closed (Public Record) Public Record #673649809	$360,000
05/18/2020	Closed BRIGHT #PABK344532	$360,000
03/08/2020	Pending BRIGHT #PABK344532	—
01/10/2020	Price Change BRIGHT #PABK344532	$385,000
07/09/2019	Listed (Active) BRIGHT #PABK344532	$449,000
01/15/2001	Closed BRIGHT #PABK187724	$132,900
10/19/2000	Pending BRIGHT #PABK187724	—
09/20/2000	Listed (Active) BRIGHT #PABK187724	$129,900

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

Public Records for 237 West Lancaster Avenue

Taxable ValueLand$37,500Additions$81,700Total$119,200

Tax Record2026$1,925 ($160 / month)

Home Facts

Baths4Total Finished SqFt1,752 SqFtAbove Grade Finished SqFt1,752 SqFtStories2Lot Size8,712 SqFtStyleOffice BuildingYear Built1900CountyBERKSAPN77439507585987

Schools near 237 West Lancaster Avenue

This home is within Governor Mifflin School District.


Rating	School	Type	Grades	Distance
5/10	Cumru El School	Public - Serves this home	PK to 4	1.1 mi
6/10	Intermediate School	Public - Serves this home	5 to 6	1.0 mi
4/10	Governor Mifflin Middle School	Public - Serves this home	7 to 8	0.5 mi
6/10	Governor Mifflin Senior High School	Public - Serves this home	9 to 12	0.7 mi
NR	La Salle Academy	Private - Nearby school	PK to 8	0.7 mi


Rating	School	Distance
5/10	Cumru El School PublicPK to 4 Serves this home	1.1 mi
6/10	Intermediate School Public5 to 6 Serves this home	1.0 mi
4/10	Governor Mifflin Middle School Public7 to 8 Serves this home	0.5 mi
6/10	Governor Mifflin Senior High School Public9 to 12 Serves this home	0.7 mi
NR	La Salle Academy PrivatePK 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: 237 West Lancaster Avenue, Reading, PA 19607	$360,000	–	–	4,267	8,712
233 West Lancaster Avenue, Shillington, PA 19607	$185,000	–	–	2,502	–
231 West Lancaster Avenue, Shillington, PA 19607	$99,500	3	1	1,694	2,178
227 West Lancaster Avenue, Shillington, PA 19607	$99,900	5	2	1,694	2,178
301 West Lancaster Avenue, Shillington, PA 19607	$185,000	–	2	4,543	–
220 West Lancaster Avenue, Shillington, PA 19607	$550,000	–	–	2,997	–
31 North Wyomissing Avenue, Shillington, PA 19607	$128,900	5	2	1,545	2,614
223 West Lancaster Avenue, Shillington, PA 19607	–	5	1	1,694	2,178
221 West Lancaster Avenue, Reading, PA 19607	$84,000	3	1	1,450	2,178
33 North Wyomissing Avenue, Reading, PA 19607	$118,000	5	1	1,520	2,178
303 West Lancaster Avenue, Shillington, PA 19607	$139,900	–	4	2,859	–
221 East Lancaster Avenue, Reading, PA 19607	$275,000	–	–	2,824	–
35 North Wyomissing Avenue, Shillington, PA 19607	–	3	1	1,518	2,178
219 West Lancaster Avenue, Shillington, PA 19607	$46,000	5	1	1,782	1,742
300 West Lancaster Avenue, Shillington, PA 19607	$250,000	–	–	6,104	–
217 West Lancaster Avenue, Reading, PA 19607	$210,000	5	2	1,694	2,178

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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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