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    Reading Multifamily Investment Opportunity Title is generated by Realmo AI

    357 S 3RD Street, Reading, PA 19602

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    For Sale
    $460,000

    MULTI_FAMILY - Other - READING, PA

    Property size:
    2,946 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $156/SF
    Added:
    Mar 19, 2026
    Days on Market:
    86
    Last Refresh:
    Jun 12 at 2:06 pm

    Property Features for 357 S 3RD Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    2,946 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2026

    Utilities

    Heating system
    Baseboard, Electric (Heating)

    Building Details

    Year built
    1900
    Number of units
    4
    Building materials
    Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    F. Scott Goetz

    Listing agent F. Scott Goetz License #RS110187a

    Listing office Century 21 Gold 1125 Berkshire Boulevard unit: 200, Wyomissing, PA

    Listing date Mar 19, 2026

    MLS# PABK2069610 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5‑unit multifamily property with 1–3 bedroom units
    • Tenants pay all utilities except water and sewer
    • Two units currently vacant, described as easily rentable
    • Year built 1900
    • Stucco construction with electric heating and baseboard heat
    • On‑street parking

    Overview

    This multifamily property in Reading, Pennsylvania, features five units with one to three bedrooms. The property is located across the street from a park and baseball field. According to the listing, all units are in great condition. The tenants are responsible for all utilities except water and sewer. The property has a size of 2946 square feet and sits on a lot of approximately 0.05 acres. The property is intended for use as a residential income property and offers a potential return on investment.

    Local Financial Insights For Multifamily LT 5

    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 $43.1k $14.64
    − Vacancy −$1.6k −$0.56
    EGI $41.5k $14.08
    − OpEx −$12.4k −$4.23
    NOI $29.0k $9.86
    2,946 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $414.9K
    $363.0K – $484.1K (±1% cap)
    NOI $29,043 @ 7.0% cap · market cap 6.31%
    Second Best
    Apartment 5plus
    $362.7K
    $317.3K – $423.1K (±1% cap)
    NOI $25,386 @ 7.0% cap · market cap 5.52%
    Theoretical Best
    Office A
    $483.6K
    $423.2K – $564.2K (±1% cap)
    NOI $33,853 @ 7.0% cap · market cap 7.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.93172
    Latitude
    40.32937

    FAQs

    What type of property is this?
    Quadplex - Five-unit property near park, offering strong investment potential.
    Where is this quadplex located?
    The property is located at 357 S 3RD Street Reading, PA.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: 5‑unit multifamily property with 1–3 bedroom units; Tenants pay all utilities except water and sewer; Two units currently vacant, described as easily rentable
    More about this property
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