408 Penn Street, Reading, PA 19602

$425,000
List Price
$425,000
Days On Market
9
Status
ACTIVE
MLS#
PABK339196
Lot Size (Acres)
0.24
Year Built
1900
County
Berks

Property Description

This Downtown City property located in the heart of the Reading's business district is the Former Josephs clothier and former Rent a center. The first floor alone offers 10,000 SF with several entry areas which can be divided into separate units or spaces for extra income. There are several floors that could be used for storage or many other uses, bring your ideas and join the growing excitement of Downtown Reading!! There are four entrances to the first floor 2 from Cherry st and 2 on Penn st. The property is located in a Federally designated opportunity Zone. Any Capital Gains moved into an an "Opportunity Fund" and subsequently used to buy R.E. in this area will get a 10 year tax deferment, a 15% discount on the capital gain after the 10 years, and any profits made from the investment itself will be tax free!

Additional Information

Area
Reading City (10201)
Taxes
$4328
Heating
Forced Air
Heating Fuel
Natural Gas
Cooling
Central A/C
Water
Public
Sewer
Public Sewer

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Keller Williams Platinum Realty.

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