Reading Multifamily Investment
357 S 3RD Street Reading, PA 19602
357 S 3RD Street, Reading, PA, 19602
$460,000
For Sale
$460,000
MULTI_FAMILY - Other - READING, PA
Property Size2,946 SF
Lot Size0.05 Acres
Price / SF$156.14
Days on Market126
Property Features for 357 S 3RD Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,946 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2026
Utilities
- Heating system
- Baseboard, Electric (Heating)
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Stucco
- Architectural style
- Other
Listing agency
Century 21 Gold
(610) 779-2500
Listed by
F. Scott Goetz · License #RS110187a
(610) 621-8342
Added: Mar 19 Updated: Jun 29 at 12:44PM Checked: Jul 22 at 8:06AM
MLS# PABK2069610
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in Reading, Pennsylvania, features five units with one to three bedrooms. The property is located across the street from a park and baseball field. According to the listing, all units are in great condition. The tenants are responsible for all utilities except water and sewer. The property has a size of 2946 square feet and sits on a lot of approximately 0.05 acres. The property is intended for use as a residential income property and offers a potential return on investment.
Key Highlights
- 5‑unit multifamily property with 1–3 bedroom units
- Tenants pay all utilities except water and sewer
- Two units currently vacant, described as easily rentable
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.1k | $14.64 |
| − Vacancy | −$1.6k | −$0.56 |
| EGI | $41.5k | $14.08 |
| − OpEx | −$12.4k | −$4.23 |
| NOI | $29.0k | $9.86 |
2,946 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.0K – $484.1K
NOI $29,043 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$362.7K
$317.3K – $423.1K
NOI $25,386 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$483.6K
$423.2K – $564.2K
NOI $33,853 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Five-unit property near park, offering strong investment potential.
Where is this quadplex located?
The property is located at 357 S 3RD Street Reading, PA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 5‑unit multifamily property with 1–3 bedroom units; Tenants pay all utilities except water and sewer; Two units currently vacant, described as easily rentable
