1030 10Th St Reading, PA 19602
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1030 10Th St
- Year built
- 1900
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a portfolio of four Class C multifamily buildings totaling 16 units in Reading, Pennsylvania. Located at 1030 Windsor St, 529 N. 10th St, 937 Elm St, and 222 N. 10th St (zip code 19602), these properties offer significant value-add potential. The portfolio boasts a current Net Operating Income (NOI) of $105,355, yielding a 6.50% cap rate. However, a pro-forma analysis projects a substantially higher NOI of $153,715 and an 8.78% cap rate, reflecting the significant upside potential from below-market rents. Currently 100% occupied, the buildings are all solid brick constructions, built in 1900. The portfolio includes a two-car garage at the Windsor Street location. Unit distribution is as follows: 1030 Windsor St (6 units), 529 N. 10th St (3 units), 937 Elm St (3 units), and 222 N. 10th St (4 units). The properties are conveniently located within minutes of each other, simplifying management. The asking price is $1,750,000, representing a price per unit of $109,375. Long-term tenants and the absence of rent control in Reading contribute to the stability and growth potential of this investment. Owner financing may be available. This portfolio represents one of seven packages within a larger portfolio. The properties benefit from a strong local demand for housing and proximity to various commercial and industrial centers. This is a fee simple ownership opportunity.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reading
- County
- Berks
- State
- Pennsylvania
- Longitude
- -75.9143867
- Latitude
- 40.3279745
