Multi-Family Property with Nine
238 South 5th Street Reading, PA 19602
For Sale
$849,900
Two-building multifamily with nine total units and gas heating, including at least four two-bedroom apartments.
Property Size6,206 SF
Price / SF$136.95
Days on Market508
Property Features for 238 South 5th Street
General Information
- Standard status
- Active
- Size
- 6,206 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing Agency:
Pagoda Realty
(610) 927-7466
Listed By:
Jimmy Thelusca · License #RS333622
(610) 927-7466
Source:
Compass
Added: Mar 2, 2025
Changed: Jul 22
Last Checked: Jul 22 at 6:25AM
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 Pagoda Realty
Investment Insights
Based on property information with market context.
This two-building multifamily property totals nine (9) residential units, consisting of a front building with seven units and a rear building with two units. Each building is equipped with efficient gas heating.
The unit mix includes at least four (4) two-bedroom apartments. The remaining units are described as large one-bedroom layouts with a separate bedroom, living room, and eat-in kitchen; buyers are asked to verify.
The property is offered for sale on a high-traffic street and has historically maintained high occupancy, according to the listing remarks.
The unit mix includes at least four (4) two-bedroom apartments. The remaining units are described as large one-bedroom layouts with a separate bedroom, living room, and eat-in kitchen; buyers are asked to verify.
The property is offered for sale on a high-traffic street and has historically maintained high occupancy, according to the listing remarks.
Key Highlights
- Two‑building multifamily in Reading, totaling 9 residential units (7 in the front building, 2 in the rear building)
- Unit mix includes at least four 2‑bedroom units; the remaining units are large 1‑bedroom units with separate bedroom, living room, and eat‑in kitchen (buyer to verify)
- Each building has efficient gas heating
Financial Insights For Apartment 5plus
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 | $101.3k | $16.32 |
| − Vacancy | −$4.1k | −$0.65 |
| EGI | $97.2k | $15.67 |
| − OpEx | −$43.8k | −$7.05 |
| NOI | $53.5k | $8.62 |
6,206 SF · lease $16.32/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$764.0K
$668.5K – $891.3K
NOI $53,477 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.4K – $1.19M
NOI $71,314 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two-building multifamily with nine total units and gas heating, including at least four two-bedroom apartments.
Where is this apartment building located?
The property is located at 238 South 5th Street Reading, PA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑building multifamily in Reading, totaling 9 residential units (7 in the front building, 2 in the rear building); Unit mix includes at least four 2‑bedroom units; the remaining units are large 1‑bedroom units with separate bedroom, living room, and eat‑in kitchen (buyer to verify); Each building has efficient gas heating
