31-Unit Apartment
For Sale
$950,000
1259 N 10th St, Reading, PA 19604
Three brick buildings offer residential units alongside a ground-floor commercial space in a unified Reading portfolio.
Property Size3,485 SF
Price / SF$272.60
Days on Market225
Property Features for 1259 N 10th St
General Information
Standard status
Active
Size
3,485 SF
Building Details
Year Built
1910
Listing Agency:
TCS Management, LLC
Listed By:
Alex C Prince, Moshe Adika · License #RS322309
(215) 431-5652
Source:
Lgagne
Added: Mar 18
Changed: Oct 25
Last Checked: Oct 28 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TCS Management, LLC
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Investment Insights
Based on property information with market context.
This fee-simple portfolio includes three nearby buildings totaling 31 residential units and one commercial space. The assets include two adjacent three-story brick buildings at 17 and 19 South 3rd Street with 10 apartments, a three-story mixed-use property at 1259 North 10th Street with 9 apartments and a ground-floor commercial space, and a three-story apartment building at 831 North 10th Street with 12 units. The properties were built between 1890 and 1910 and feature brick, stone, or stucco exteriors.
Building systems include electric baseboard heat, central steam heat, gas-fired hot water, in-unit hot water heaters, copper wiring, wood joist framing, and stone and mortar foundations. Roofs at the South 3rd Street buildings were replaced within the past five years, while the 1259 North 10th Street roof was replaced within the last five to seven years. Tenant utility responsibilities vary by property, with ownership providing water, hot water, or central heat in specified buildings. The properties are located near Penn Street in Reading, Pennsylvania, and the three buildings are within minutes of one another.
Building systems include electric baseboard heat, central steam heat, gas-fired hot water, in-unit hot water heaters, copper wiring, wood joist framing, and stone and mortar foundations. Roofs at the South 3rd Street buildings were replaced within the past five years, while the 1259 North 10th Street roof was replaced within the last five to seven years. Tenant utility responsibilities vary by property, with ownership providing water, hot water, or central heat in specified buildings. The properties are located near Penn Street in Reading, Pennsylvania, and the three buildings are within minutes of one another.
Key Highlights
- 31 residential units plus 1 commercial space across 3 nearby buildings
- 17 and 19 South 3rd Street include 10 apartments in two adjacent three‑story brick buildings
- 1259 North 10th Street offers 9 residential units and 1 ground‑floor commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,502
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,040
$690.0K
Cap Rate 7%
$492,886
$492.9K
Cap Rate 9%
$383,356
$383.4K
Market Conditions
NOI Build-Up for 3,485 SF
Gross rent
$62.7K $18.00/SF
− Vacancy
−$7.5K −$2.16/SF
EGI
$55.2K $15.84/SF
− OpEx
−$20.7K −$5.94/SF
NOI
$34.5K $9.90/SF
Area
Berks County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,040
Cap Rate 7%
$492,886
Cap Rate 9%
$383,356
Alternative Uses
Best Use
Mixed Use
$492.9K
$431.3K – $575.0K
NOI $34,502 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.5K
NOI $30,030 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$572.1K
$500.6K – $667.5K
NOI $40,047 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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Business Placement
Demographics for 19604, PA
29,347
Population
10,089
Households
2.9
Avg Household Size
29
Median Age
10%
College-Educated
70%
High-School Grad
2.5 sq mi
ZIP Area
11,739
Density / Sq Mi
$52,863
Median Household Income
$30,975
Median Earnings
$1,100
Median Rent
$110,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three brick buildings offer residential units alongside a ground-floor commercial space in a unified Reading portfolio.
Where is this apartment building located?
The property is located at 1259 N 10th St Reading, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 31 residential units plus 1 commercial space across 3 nearby buildings; 17 and 19 South 3rd Street include 10 apartments in two adjacent three‑story brick buildings; 1259 North 10th Street offers 9 residential units and 1 ground‑floor commercial space
