351 N 6Th St, Reading, PA 19601

Description

Searching for an investment property that offers both stable rental income and an established business? This mixed use opportunity at 351 N 6th St, Reading, PA delivers the best of both worlds with four apartment units and a fully operational laundromat, all included in one sale. The purchase includes the real estate, laundromat business, equipment, and fixtures, making this a true turnkey investment opportunity.

The residential units have benefited from numerous updates throughout ownership. Apartment 2 Front has been renovated with a new kitchen, updated bathroom, and newer appliances. Apartment 2 Rear has been partially renovated and also features newer appliances. The first floor apartment includes a new stove, bathroom plumbing updates, and a new sink. Each residential tenant pays their own heat and electric, while ownership is responsible for the water along with the heat and electric serving the laundromat.

The laundromat has been extensively improved with upgrades focused on efficiency and long term operation. Recent improvements include updated electrical systems, upgraded plumbing throughout the building, a new entrance door, a renovated office area, and improved basement access with updated stair from not only the exterior but through the security system office room within the laundromat. The business is equipped with a generator supporting the three phase electrical service for the washers, 12 operational washers, 12 dryers with 10 currently in service, an upgraded money machine, a vending machine, and installed skill machines that provide an additional source of income. Per ownership, the laundromat is currently averaging approximately $200 per day in gross revenue.

Whether you are looking to expand your investment portfolio or enter the laundromat industry, this property presents an opportunity to own an income producing business alongside four residential units with continued upside potential. Schedule your private showing today!