Property

Reading, PA 19601 1049 Penn Street

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Presented By: Keller Williams Platinum Realty - Wyomissing
  • MLS# PABK2061466
  • 08/15/2025
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  • Beds • 4

Home Details

Prime multi-unit property with high-visibility and corner Location facing City Park. An exceptional opportunity to own a 4-unit mixed-use property in a prime, high-traffic location. This impressive building features one spacious unit per floor, including 1 ground-floor commercial space and 3 large residential apartments, each offering unique charm and character. It features a premium location situated on a high-visibility corner directly across from a park, offering scenic park and city views. Excellent accessibility with easy access to public transportation and foot traffic, ideal for both residential and commercial use. The units are well-maintained with high ceilings, hardwood floors, and abundant natural light. The architectural character amazes with beautiful original architectural features and rear sun porches add elegance and light to each apartment. The long-term commercial tenant, ensures stable income. A versatility for investors seeking strong rental income or owner-occupants looking to live and invest in a vibrant area. This is a rare chance to acquire a corner detached property with high curb appeal and excellent growth potential. Don't miss out on this standout asset in a sought-after neighborhood.
Presented By: Keller Williams Platinum Realty - Wyomissing

Interior Features for 1049 Penn Street

Bedrooms

Three Bedroom Units Count

Other Interior Features

LivingAreaSourceEstimated
BasementPartially Finished
Basement (Y/N)Yes
Central Air Y/NNo
Fireplace Y/NNo
FlooringHardwood, Ceramic Tile
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterNatural Gas

General for 1049 Penn Street

Acceptable FinancingCash, Conventional
AccessibilityNone
Architectural StyleTraditional
Association Recreation FeeN
Cap Rate6.42
CityREADING
Construction MaterialsBrick, Stone
Cool FuelElectric
CoolingNone
CountyBERKS
DirectionsFrom 422 take Penn St Exit for Reading the Follow Penn Street to 11st Property on Left, Corner of 11st & Penn St.
ExclusionsRestaurant equipment owned by the tenant except for the hood/ventilator of stoves.
Garage Y/NNo
HeatingHot Water
Insurance Expense3000.00
Lease TypeLong Term, Month to Month, Yearly
Lot Size Square Feet2613.00
Lot Size UnitsSquare Feet
MLS AreaReading City (10201)
ModificationTimestamp2025-08-29T12:42:04
MunicipalityREADING CITY
Net Operating Income60955.00
New ConstructionNo
Number Of Units Total4
Number of Units Leased3
NumberOfUnitsVacant1
One Bedroom Units Count2
Operating Expense17045.00
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1, Unit 2, Unit 4, Unit 3
OwnerPaysHeat, Common Area Maintenance, Insurance, Sewer, Snow Removal, Taxes - Real Estate, Trash Collection, Water, Electricity
OwnershipFee Simple
PossessionSettlement
Price Per Sq Ft Total AG146.15
Property ConditionAverage
Property SubtypeQuadruplex
Property TypeMulti-Family
School DistrictREADING
SewerPublic Sewer
Single Room Units Count0
Standard StatusActive
StatusACTIVE
Structure TypeDetached
Tax Annual Amount4552.0
Tax Assessed Value101000.0
Tax Lot0269
Tax Year2025
Total Actual Rent78000.00
Total SQFT6500
Two Bedroom1
Vacation Rental Y/NNo
Water Access Y/NNo
Year Built1900
Year Built SourceEstimated
ZoningMIX USE R-3

Exterior for 1049 Penn Street

Foundation DetailsStone
Inclusions3 stoves, 3 refrigerators in apartments.
Land Assessed Value27300.00
Land Use Code4126
Lot Dimensions0.00 x 0.00
Lot Size Acres0.06
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
PoolNo Pool
Total Parking Spaces0
Type of ParkingNone
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo

Additional Details

Price History

Brian Lee

Associate
Price $950,000
MLS#PABK2061466
List Date 08/15/2025
Property Type Multi-Family
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