831 N 10TH ST Reading, PA 19604
19,254 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 19,254 sqft
Price per Sqft $68
MLS Listing ID PABK2069502
Style Other
Abv Grd Liv Area 19,254
Year Built 1910
Annual Tax Amount $9,316
Tax Year 2025
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 0.00 x 0.00
Property Sub-Type Detached
Source BRIGHT
Property Description
Presenting the opportunity to acquire the fee simple interest in the Downtown Reading Portfolio. The Portfolio consists of three well-located assets totaling 31 residential units and one commercial space in the heart of Reading, Pennsylvania. Situated within minutes of one another, the properties provide operational efficiency, stable cash flow, and clear upside through rent growth and light renovations. The Downtown Reading Portfolio serves a deep and diverse tenant base within a submarket that continues to see steady occupancy levels of 95% or above and limited new supply, creating high barriers to entry.
• Located just off Penn Street, 17 and 19 South 3rd Street consist of two adjacent three-story brick buildings totaling 10 apartment units. Built around 1900 and well-maintained over the years, both 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, minimizing ownership expenses and streamlining operations.
• A few minutes north, 1259 North 10th Street is a mixed-use, three-story brick building totaling over 14,000 square feet and featuring 9 residential units and 1 ground-floor commercial space. Constructed in 1910, the property is equipped with electric baseboard heat, in-unit hot water heaters, and copper wiring. The roof, replaced within the last five to seven years, and a durable brick exterior contribute to the property's longevity. The flexible layout and neighborhood location provide options for improved utilization of the commercial component and continued residential stability.
• Nearby, 831 North 10th Street encompasses 12 apartment units across three stories and 19,000± square feet. Built in 1890, the building retains its classic stone veneer and stucco façade while operating with a central steam boiler and gas-fired hot water system. Tenants pay for electricity and gas cooking, with ownership covering central heat, a setup that has helped sustain strong year-round occupancy. The large unit sizes and character details give the property a unique competitive edge in the local rental market.
Together, these properties form a strong value-add portfolio with tangible upside potential for a new buyer. Current in-place rents, averaging between $990 and $1,200 per month, sit roughly 15% below comparable market levels, allowing for meaningful income growth through light renovations and more hands-on management. Their proximity supports shared maintenance, staffing, and operational efficiencies while maintaining flexibility across multiple tenant segments.
In a market with strong occupancy fundamentals and limited new construction, the Downtown Reading Portfolio stands out as a well-balanced investment opportunity. With stable in-place income, clear rent growth potential, and properties positioned in resilient, workforce-driven neighborhoods, this Portfolio offers investors a compelling blend of stability and scalability within Berks County's core rental corridor.
Location
State PA
County Berks
Area Reading City (10201)
Zoning RES
Interior
Hot Water Electric
Heating Hot Water, Radiator
Cooling None
Heat Source Natural Gas
Exterior
Water Access N
Roof Type Pitched,Shingle
Accessibility None
Garage N
Building
Foundation Other
Above Ground Finished SqFt 19254
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
School District Reading
Others
Tax ID 12-5317-53-04-6941
Ownership Fee Simple
SqFt Source 19254
Special Listing Condition Standard
Realtor®, Team Leader | License ID: RS310609
+1(717) 606-2512 | claire@clairechivington.com