A Look at Potential Investment Properties
We all know the life of luxury doesn’t happen without some hard work and some smart investments. Here are a couple potential investment properties which could improve your portfolio and make sure you are booking a private jet for your next vacation!
205 S Beech St, Fleetwood, PA 19522 $399,900
This multi-unit opportunity has quite a few things going for it that make it a potentially attractive investment. Priced at $399,900 this property features four townhouses on over 2 acres of land which can subdivided. The property also features 10 parking spots for tenants. Looking to bring in monthly revenue? You might consider renovating the individual units, increasing rents and letting the money roll in. Looking for a flip? Then you might consider renovating, subdividing the individual units and selling each individually.
The property is close enough to Kutztown University to be able to take advantage of student housing rental rates. Additionally the property has a well and own septic system so as a landlord you have no water or sewer bills! Given the property has 2.16 acres of land you may even look to develop and add more units!
129 W Main St, Kutztown, PA 19530 – $1,150,000
Another property in the proximity of Kutztown University makes the list. This property located in the heart of Kutztown is an investor’s dream. Zoned completely for student housing this building holds up to 24 individual students in a variety of apartment layouts. Income from the different units as well as the commercial space and coin operated laundry make this opportunity pretty enticing. A cap rate of 10.79% claimed in the listing means it will outperform most of your mutual funds and have you on the path to a luxury lifestyle. With the commercial space rented, it’s proximity to Kutztown University and 100% occupancy each school year for the last 10 years this property might make a solid investment to your portfolio!
700 Upland Ave, Reading, PA 19607 – $125,000
This property is quite the conundrum. This used to be the former home of the Upland Cafe which was a fairly good restaurant and neighborhood bar. At $125,000 the property alone seems like it should be a good investment but the sale price does not include the liquor license. Per the PLCB records the owner does still have the liquor license in escrow. If you could acquire a liquor license at a reasonable amount then you are into a bar restaurant for a little over $200k which isn’t a bad deal at all. It is a relatively high traffic area with Alvernia University just around the corner but beware competition is heavy in that area with Trooper Thorn’s and the Liberty Ale House near by. The idea of owning and operating a fully functional bar and restaurant in a decent neighborhood, right next to Alvernia University, for under $250k makes this an opportunity any experienced operator with a little vision should take a look at.
221 Reading Ave, Reading, PA 19607 – $125,000
This one won’t jump out at you as a huge money maker but a 2 unit in Governor Mifflin School District for $125k should at least deserve a few minutes of your time. The property features 2 one bedroom units with gas heat. As a landlord you could look at splitting the utilities to the units and letting the tenants pay their own utilities to maximize profit. This property wont make you a millionaire but it provide you with some hassle free income!
135 Bernhart Ave, Reading, PA 19605 – $81,700
Two unit in Muhlenberg School District for $81,700. That should be enough but the owner claims the property was generating $15,600 a year in rent with tenants paying their own heat and electric. There are limited pictures available but the numbers make sense for a property that might need some renovation. If the property can pay for itself in 5 or 6 years then any serious investor should take a look.
There you have it.. These are at least some of the deals you should be taking a look at if you are looking to get into real estate investing. Obviously there are tons of real estate opportunities out there in land development, commercial properties and portfolio purchases but in this article we focused on mostly smaller residential based investments to get you started.
About the Author –
Joe DiRosa is the Founder, Publisher & Editor of BerksLuxury.com. I am an Entrepreneur, own several web properties, and am a Licensed Real Estate Agent with RealtyTopia in Wyomissing PA. I have experience as a Mortgage Loan Officer and have been previously licensed as a Real Estate Agent in the State of New York as well.
If you have any questions or are looking for a property you can call me at 610-390-1331 or email me at Joe@BerksLuxury.com.