Multifamily Portfolio with Retail
17 17-19 S 3rd St Reading, PA 19602
New
17 17-19 S 3rd St, Reading, PA, 19602
$950,000
For Sale
$950,000
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 Market2
Property Features for 17 17-19 S 3rd St
General Information
- Standard status
- Active
- Size
- 5,288 SF
Building Details
- Year Built
- 1900
Listing agency
TCS Management, LLC
(215) 383-1439
Listed by
Alex C Prince · License #RS322309
Source
Kandorre
Added: Jul 21 Updated: Jul 22 at 2:58AM Checked: Jul 22 at 2:58AM
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
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.
Local Financial Insights For Retail
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 | $80.0k | $15.12 |
| − Vacancy | −$3.4k | −$0.64 |
| EGI | $76.6k | $14.48 |
| − OpEx | −$23.0k | −$4.35 |
| NOI | $53.6k | $10.14 |
5,288 SF · lease $15.12/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$766.0K
$670.2K – $893.6K
NOI $53,618 @ 7.0% cap · market cap 5.64%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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.
