17-19 S 3RD STREET, READING, PA 19602 - The Eric Leadbetter Team

$950,000

THIS IS A PACKAGE DEAL PRICED AT $3,225,000 AND INCLUDES 831 NORTH 10TH STREET, 17 & 19 SOUTH 3RD STREET, AND 1259 NORTH 10TH STREET 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… Read More 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 19,000b1; square feet. Built in 1890, the building retains its classic stone veneer and stucco fae7;ade 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. Read Less

Courtesy of Alex C Prince, TCS Management, LLC 215-383-1439

Listing Snapshot

Days Online

Last Updated

Apr 11, 2026

Property Type

Commercial

Square Ft.

5,288

Lot Size

0.04 Acres

Year Built

1900

MLS Number

PABK2069494

Additional Details

Building

Built in 1900, Construction Materials: Brick

Cooling

None

Accessibility Features

None

Expenses

Trash: $550

Heating

Baseboard - Electric

Lot

0.04 acres

Sewer

Public Sewer

Taxes

Annual Amount: $1,411, Lot: 8927, Year: 2018, Zoning: 4200 APT: LOW RISE, 5-10

Utilities

Water Available, Sewer Available, Natural Gas Available, Electric Available, Water Source: Public

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