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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

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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
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
Walk Score®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 04-5306-27-78-6786
  • 04-5306-35-78-6684
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
  • Listing ID: 35457470

  • Date on Market: 4/11/2025

  • Last Updated:

  • Address: 238 S 5th St, Reading, PA 19602

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