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9 Unit Building - 238 S 5th St Reading PA 238 S 5th St 9 Unit Apartment Building $879,900 ($97,767/Unit) Reading, PA 19602



EXECUTIVE SUMMARY
Excellent investment opportunity in the heart of Reading! This parcel consists of two buildings totaling nine (9) residential units — a front building with seven units and a rear building with two units. Each building is equipped with efficient gas heating, keeping utility costs manageable and appealing to tenants. The property offers a mix of at least four (4) two-bedroom units and the remaining units are large one-bedroom units, each featuring a separate bedroom, living room, and eat-in kitchen (Buyer to verify). With room to raise rents and the potential to split heating, this property presents a fantastic value-add opportunity for any investor. The buildings have historically maintained a high occupancy rate, supported by their location on a high-traffic street that ensures consistent rental demand. Whether you’re looking to expand your portfolio or start building one, this property has plenty of upside, income growth potential, and long-term stability. Bring an offer! Motivated seller—room to negotiate with a fair and reasonable offer.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$108,300
|
$14.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,300
|
$14.85
|
| Taxes |
$10,497
|
$1.44
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$10,497
|
$1.44
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $108,300 |
| Annual Per SF | $14.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,300 |
| Annual Per SF | $14.85 |
| Taxes | |
|---|---|
| Annual | $10,497 |
| Annual Per SF | $1.44 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $10,497 |
| Annual Per SF | $1.44 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $879,900 | Building Class | C |
| Price Per Unit | $97,767 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 7,293 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1980 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $879,900 |
| Price Per Unit | $97,767 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 7,293 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1980 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Microwave
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Oven
- Range
- Wi-Fi
- Yard
- Basement
- Dining Room
- Family Room
- Handrails
- Lawn
- Pantry
- Vinyl Flooring
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Individual Locking Bedrooms
- Smoke Detector
1 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $321,400 (2025) | |
| Land Assessment | $104,300 (2025) | Annual Taxes | $10,497 ($1.44/SF) |
| Improvements Assessment | $217,100 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$104,300 (2025)
Improvements Assessment
$217,100 (2025)
Total Assessment
$321,400 (2025)
Annual Taxes
$10,497 ($1.44/SF)
Tax Year
2024
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9 Unit Building - 238 S 5th St Reading PA | 238 S 5th St
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