Multifamily Portfolio with Retail
For Sale
$950,000
17 17-19 S 3rd St, Reading, PA 19602
Fee-simple portfolio includes three brick apartment buildings totaling 31 units plus one ground-floor commercial space.
Property Size5,288 SF
Price / SF$179.65
Days on Market92
Property Features for 17 17-19 S 3rd St
General Information
Standard status
Active
Size
5,288 SF
Additional Details
Multifamily Units
31
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
TCS Management, LLC
Listed By:
Alex C Prince · License #RS322309
(215) 383-1439
Source:
Kandorre
Added: Jul 21
Changed: Oct 10
Last Checked: Oct 19 at 8:14AM
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.
The Downtown Reading Portfolio is a fee-simple package of three adjacent and nearby brick properties offering 31 residential units and one commercial space. 17 and 19 South 3rd Street consists of two adjacent three-story buildings totaling 10 apartment units. Built around 1900, the properties feature stone and mortar foundations, wood joist framing, and flat rubber roofs replaced within the past five years; tenants are responsible for heat, electricity, and gas for cooking, with water and hot water included in a flat monthly fee. 1259 North 10th Street is a three-story mixed-use building built in 1910 with 9 residential units and 1 ground-floor commercial space, featuring electric baseboard heat, in-unit hot water heaters, and copper wiring. The roof was replaced within the last five to seven years. 831 North 10th Street includes 12 apartment units across three stories, built in 1890 with a stone veneer and stucco façade and served by a central steam boiler and gas-fired hot water system.
The properties are described as being located in the heart of Reading, Pennsylvania, just off Penn Street, and within minutes of one another, supporting streamlined shared maintenance and staffing while maintaining configuration flexibility.
Across the portfolio, tenant responsibilities vary by building, with ownership covering central heat at 831 North 10th Street and tenants paying electricity and cooking gas. Reported in-place rents average between $990 and $1,200 per month.
The properties are described as being located in the heart of Reading, Pennsylvania, just off Penn Street, and within minutes of one another, supporting streamlined shared maintenance and staffing while maintaining configuration flexibility.
Across the portfolio, tenant responsibilities vary by building, with ownership covering central heat at 831 North 10th Street and tenants paying electricity and cooking gas. Reported in-place rents average between $990 and $1,200 per month.
Key Highlights
- Downtown Reading fee‑simple portfolio with three brick buildings totaling 31 residential units plus 1 ground‑floor commercial space.
- 17 and 19 South 3rd Street: two adjacent three‑story brick buildings with 10 apartment units; built around 1900; flat rubber roofs replaced within the past 5 years.
- 1259 North 10th Street: mixed‑use three‑story brick building with 9 residential units and 1 ground‑floor commercial space; built in 1910; roof replaced within the last 5–7 years.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,566
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,320
$911.3K
Cap Rate 7%
$650,943
$650.9K
Cap Rate 9%
$506,289
$506.3K
Market Conditions
NOI Build-Up for 5,288 SF
Gross rent
$86.3K $16.32/SF
− Vacancy
−$3.5K −$0.65/SF
EGI
$82.8K $15.67/SF
− OpEx
−$37.3K −$7.05/SF
NOI
$45.6K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,320
Cap Rate 7%
$650,943
Cap Rate 9%
$506,289
Alternative Uses
Best Use
Apartment 5plus
$650.9K
$569.6K – $759.4K
NOI $45,566 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.1K
$759.6K – $1.01M
NOI $60,765 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
31
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
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 - Fee-simple portfolio includes three brick apartment buildings totaling 31 units plus one ground-floor commercial space.
Where is this apartment building located?
The property is located at 17 17-19 S 3rd 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: Downtown Reading fee‑simple portfolio with three brick buildings totaling 31 residential units plus 1 ground‑floor commercial space.; 17 and 19 South 3rd Street: two adjacent three‑story brick buildings with 10 apartment units; built around 1900; flat rubber roofs replaced within the past 5 years.; 1259 North 10th Street: mixed‑use three‑story brick building with 9 residential units and 1 ground‑floor commercial space; built in 1910; roof replaced within the last 5–7 years.
