Downtown Reading Multifamily Portfolio 3 Multifamily Properties Offered at $4,479,364 CAD in Reading, PA

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 experience steady occupancy levels of 95% or above, with 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. The site features 10 off-street parking spaces and serves as a strong differentiator in the Downtown Reading area. 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 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.
Individual Property Pricing:
831 North 10th Street (12 Units): $1,325,000
17 & 19 South 3rd Street (10 Units): $950,000
1259 North 10th Street (10 Units): $950,000