3,994 SqFt
3,994 SqFt
Open House
Sat Oct 31, 1:00pm - 3:00pm
Key Details
Property Type Multi-Family, Townhouse
Sub Type End of Row/Townhouse
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 3,994 sqft
Price per Sqft $112
MLS Listing ID PABK2079922
Style Traditional
Abv Grd Liv Area 3,994
Year Built 1892
Available Date 2026-10-31
Annual Tax Amount $1,047
Tax Year 2026
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 0.00 x 0.00
Property Sub-Type End of Row/Townhouse
Source BRIGHT
Property Description
Don't miss this exciting investment opportunity at 128 and 130 Elm Street, Reading, PA 19601! This end-row multifamily property features five residential units in an R-3 zoning district, along with additional income potential from individually rented parking spaces. Already generating rental income, this property offers investors the opportunity to build on an existing income stream while adding value through improvements and some needed TLC.
The property consists of three 2-bedroom apartments, one studio, and one spacious 4-bedroom apartment. Current rents include $1,200 per month for each 2-bedroom unit, $900 for the studio, and $1,300 for the 4-bedroom apartment. One 2-bedroom unit is currently vacant, offering an immediate opportunity for a new owner to lease the unit and increase rental income. Additional revenue is generated through separately rented parking spaces.
The property currently reports annual gross income of $73,500, with annual operating expenses of approximately $19,656, including real estate taxes, insurance, WSTR, permits, electricity, and property management. Based on these figures, the reported net operating income (NOI) is $53,844, representing an approximate 11% cap rate.
While some areas of the property would benefit from updates and improvements, this presents an excellent opportunity for investors looking to unlock additional value, enhance the property's appeal, and potentially improve future rental performance. Whether you're an experienced investor seeking to expand your portfolio or looking for your next value-add project, this property offers a combination of existing cash flow and future upside.
Conveniently located near downtown Reading, public transportation, shopping, restaurants, and everyday amenities, this multifamily investment offers multiple income streams, additional rental potential, and the opportunity to make your mark in a growing investment portfolio.
Bring your vision, explore the possibilities, and turn this income-producing property into an even stronger investment! Schedule your showing today!
Location
State PA
County Berks
Area Reading City (10201)
Zoning MULTI FAMILY
Rooms
Basement Full
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Heat Source Electric
Exterior
Garage Spaces 3.0
Water Access N
View City
Accessibility None
Total Parking Spaces 3
Garage N
Private Pool No
Building
Foundation Other
Above Ground Finished SqFt 3994
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Reading
Others
Tax ID 06-5307-73-51-9814
Ownership Fee Simple
SqFt Source 3994
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Standard
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