New Listing
$449,999
 $2,416 est/mo Sourced by Back At You

128-130 Elm St,READING, PA 19601

READING, PA 19601

Share:

PreviousNext

Description

Investment Opportunity in the Heart of Reading! Don't miss this fantastic multifamily investment opportunity at 128 and 130 Elm Street, Reading, PA! Renovated in 2024, this end-row property features five residential units in the R-3 zoning district, along with additional income potential from rental parking spaces. 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!

Details

MLS #PABK2079922
Listing TypeFor Sale
Sub-TypeResale
StatusComing Soon-bright
Year1892
Days On Site5
Listing Provided ByColdwell Banker Realty | Mini J Castaneda

Features

SQ Feet3,994
BasementY
Units4
ZoningMULTI FAMILY
Acreage0.07
Property ViewCity

Interior

CoolingNone
Heating Yes / NoYes
HeatingBaseboard - Electric

Exterior

Construction MaterialsBrick
Foundation DetailsOther

Parking

Garage Yes / NoNo
Parking FeaturesCrushed Stone

Taxes

Tax Annual Amount1047

Area Information

StatePA
CountyBERKS PA
CityREADING
Zip Code19601
AreaReading City (10201)
School DistrictREADING
Listing VS Median (in 19601)
Price:
$449,999
low | high
Med:
$189,900
100% of Average
sqft:
3,994
low | high
Med:
1,547
100% of Average
$ / sqft:
$113
low | high
Med:
$125
39.289975208845% of Average
On site:
5
low | high
Med:
18
27.777777777778% of Average
Sourced by Back At You

Market Activity 19601

Request a showing

Request a showing

Contact

Additional Information

Showing Information

Submit Form

Required Field
By submitting, you agree to receive promotional texts and/or calls from Class Harlan Real Estate at the number provided. Message/data rates may apply. Consent is not a condition of purchase, and you can opt out anytime by replying STOP.
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Bright MLS. 

© 2024 Bright MLS, All Rights Reserved

Contact

Learn More About This Property

Heather Walton

Heather Walton

Class Harlan Real Estate

RS250332 (215) 272-2632heatherwaltonrealtor@gmail.com
StatePA
CountyBERKS PA
CityREADING
Zip Code19601
AreaReading City (10201)
School DistrictREADING
Listing VS Median (in 19601)
Price:
$449,999
low | high
Med:
$189,900
100% of Average
sqft:
3,994
low | high
Med:
1,547
100% of Average
$ / sqft:
$113
low | high
Med:
$125
39.289975208845% of Average
On site:
5
low | high
Med:
18
27.777777777778% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $337K - $562K
sqft: 2,500 - 4,500
Nearby Listings Property ImageNearby Listings Details
643 N 3RD ST Property Photo 1
$499,900
643 N 3rd St
Reading, PA 19601
Listing Updated: October 26, 2026 at 7:01:50 PM PDT