31-Unit Apartment
For Sale
$950,000
17-19 S 3RD ST, Reading, PA 19602
Three nearby buildings combine apartment units with a ground-floor commercial space and multiple established building systems.
Property Size5,288 SF
Price / SF$179.65
Days on Market95
Property Features for 17-19 S 3RD ST
General Information
Standard status
Active
Size
5,288 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$3,225,000
Multifamily Units
31
Listing Agency:
TCS Management, LLC
(215) 383-1439
Listed By:
Alex C Prince · License #RS322309
(215) 431-5652
Source:
Floridarodriguez.myrealestateplatform
Added: Aug 4
Changed: Oct 26
Last Checked: Oct 16 at 8:59AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 31 residential units and one commercial space across three brick buildings in Reading. The 17 and 19 South 3rd Street properties contain 10 apartments in adjacent three-story structures, with stone and mortar foundations, wood joist framing, and flat rubber roofs replaced within the past five years. The 1259 North 10th Street building offers 9 residential units and a ground-floor commercial space within more than 14,000 square feet. Its improvements include electric baseboard heat, in-unit hot water heaters, copper wiring, and a roof replaced within the last five to seven years.
At 831 North 10th Street, 12 apartments occupy three stories and approximately 19,000± square feet. The building features a stone veneer and stucco façade, central steam heat, and a gas-fired hot water system. Across the portfolio, tenant utility responsibilities vary by property, while water, hot water, or central heat are included in specified arrangements. The assets were built between 1890 and 1910 and are located within minutes of one another, supporting coordinated property operations.
At 831 North 10th Street, 12 apartments occupy three stories and approximately 19,000± square feet. The building features a stone veneer and stucco façade, central steam heat, and a gas-fired hot water system. Across the portfolio, tenant utility responsibilities vary by property, while water, hot water, or central heat are included in specified arrangements. The assets were built between 1890 and 1910 and are located within minutes of one another, supporting coordinated property operations.
Key Highlights
- 31 residential units and 1 commercial space across three buildings
- 17 and 19 South 3rd Street contain 10 apartment units in adjacent three‑story brick buildings
- 1259 North 10th Street includes 9 residential units and 1 ground‑floor commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,351
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,020
$1.0M
Cap Rate 7%
$747,871
$747.9K
Cap Rate 9%
$581,678
$581.7K
Market Conditions
NOI Build-Up for 5,288 SF
Gross rent
$95.2K $18.00/SF
− Vacancy
−$11.4K −$2.16/SF
EGI
$83.8K $15.84/SF
− OpEx
−$31.4K −$5.94/SF
NOI
$52.4K $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%
$1,047,020
Cap Rate 7%
$747,871
Cap Rate 9%
$581,678
Alternative Uses
Best Use
Mixed Use
$747.9K
$654.4K – $872.5K
NOI $52,351 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$650.9K
$569.6K – $759.4K
NOI $45,566 @ 7.0% cap · market cap 4.80%
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
31
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three nearby buildings combine apartment units with a ground-floor commercial space and multiple established building systems.
Where is this apartment building located?
The property is located at 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: 31 residential units and 1 commercial space across three buildings; 17 and 19 South 3rd Street contain 10 apartment units in adjacent three‑story brick buildings; 1259 North 10th Street includes 9 residential units and 1 ground‑floor commercial space
