128-130 ELM ST Reading, PA 19601
3,994 SqFt
Open House
Sat Oct 31, 1:00pm - 3:00pm
UPDATED:
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
The property offers a mix of three 2-bedroom apartments, one studio, and one spacious 4-bedroom apartment. The 2-bedroom units rent for $1,200 each, the studio rents for $900, and the 4-bedroom apartment rents for $1,300. One 2-bedroom unit is currently vacant, providing an opportunity for a new owner to increase rental income. Additional revenue is generated from individually rented parking spaces.
The annual gross income is $73,500, with annual operating expenses totaling $19,656, including $2,266 in real estate taxes, $2,500 in insurance, $6,000 WSTR, $100 for permits, $1,440 in electricity, and 10% of gross income for property management. This results in a net operating income (NOI) of $53,844 and an approximate 11% cap rate
Conveniently located near downtown Reading, public transportation, shopping, restaurants, and everyday amenities, this property offers an attractive opportunity for seasoned investors looking to expand their portfolios or buyers entering the multifamily market. With renovations in 2024, multiple income streams, and additional rental potential, this property deserves your attention!
Schedule your showing today and explore the possibilities this investment has to offer!
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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