Property
Reading, PA 19601 1031 Penn Street
$550,000
Pending
21 more
Presented By: RE/MAX Of Reading
Beds • 13
Home Details
Highest and Best offers are due by Sat 12/7/24 at 11:00 AM. Unlock the potential of this versatile income-generating property! This package includes 8 residential units and a large garage, strategically located on the sought-after top block of Penn St, just steps from City Park. The property offers easy access to all urban conveniences, making it highly attractive for tenants.
Built in 1890 and nestled within the historic Penns Common District, this property boasts a unique combination of historic charm and future growth potential. The offering includes:
Main Building: 6 well-designed apartments showcasing original wood detailing.
Additional Assets: 2 standalone homes and a large garage on Court St, offering flexible revenue streams.
Prime Lot: A spacious parcel that spans the length of a full city block, connecting the buildings and providing outdoor potential.
Currently, 5 of the 8 units are occupied by long-term tenants, ensuring immediate rental income while leaving room for value-add opportunities. With its blend of historic character and untapped potential, this property is ideal for the savvy investor looking to enhance portfolio performance.
Presented By: RE/MAX Of Reading
Interior Features for 1031 Penn Street
Bedrooms
Three Bedroom Units Count1
Other Interior Features
LivingAreaSourceEstimated
Central Air Y/NNo
Fireplace Y/NNo
FlooringCarpet, Hardwood, Vinyl, Tile/Brick
Heating FuelOil
Heating Y/NYes
Hot WaterElectric
General for 1031 Penn Street
AccessibilityNone
AppliancesRefrigerator, Oven/Range - Gas
Architectural StyleTraditional
CityREADING
Construction MaterialsBrick
Cool FuelNone
CoolingNone
CountyBERKS
DirectionsFrom Center City Reading, drive up Penn St to last block before City Park
DisclosuresProp Disclosure, Lead Based Paint - State
ExclusionsTenants personal property, Wood stove and radiator covers at 1036 Court St
Exterior FeaturesFire Escape, Sidewalks, Street Lights
FULLFee Simple
Garage Y/NNo
HeatingHot Water, Radiator
Interior FeaturesBuilt-Ins, Carpet, Ceiling Fan(s), Entry Level Bedroom
Lease TypeMonth to Month, Yearly
Location TypeUrban
Lot Size Square Feet7840.00
Lot Size UnitsSquare Feet
MLS AreaReading City (10201)
ModificationTimestamp2025-01-03T11:21:25
MunicipalityREADING CITY
Net Operating Income30512.00
New ConstructionNo
NumberOfUnitsTotal4
NumberOfUnitsVacant3
One Bedroom Units Count4
Operating Expense25288.00
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1, Unit 2, Unit 4, Unit 5, Unit 8, Unit 3, Unit 6, Unit 7
OwnerPaysCommon Area Maintenance, Heat, Heater Maintenance Contract, Insurance, Lawn/Shrub Care, Pest Control, Repairs, Sewer, Taxes - Real Estate, Trash Collection, Water
PossessionImmediate
Price Per Sq Ft Total AG91.67
Property SubtypeOther
Property TypeMulti-Family
Rent Control Y/NNo
RoofFlat, Rubber
School DistrictREADING
SewerPublic Sewer
Single Room Units Count0
Standard StatusPending
StatusPENDING
Structure TypeOther
Tax Annual Amount4676.0
Tax Assessed Value105300.0
Tax Lot8378
Tax Year2024
Total SQFT6000
Two Bedroom3
Vacation Rental Y/NNo
ViewStreet
Water Access Y/NNo
Waterfront Y/NNo
Year Built1890
Year Built SourceEstimated
ZoningR3
Zoning DescriptionResidential
Exterior for 1031 Penn Street
Foundation DetailsStone, Brick/Mortar
InclusionsRefrigerators and stoves
Land Assessed Value44800.00
Land Use Code4200
Lot Dimensions0.00 x 0.00
Lot FeaturesLevel, Rear Yard
Lot Size Acres0.18
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Additional Details
Price History
Ebonie Clerier
Associate