Date
Details
Price
Change
Source
11/19/2024
Listed
$550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$550,000
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Property Description
Unlock the potential of this versatile income-generating property! This package includes 8 residential units and a large garage, strategically located on the sought-after top block of Penn St, just steps from City Park. The property offers easy access to all urban conveniences, making it highly attractive for tenants. Built in 1890 and nestled within the historic Penns Common District, this property boasts a unique combination of historic charm and future growth potential. The offering includes: Main Building: 6 well-designed apartments showcasing original wood detailing. Additional Assets: 2 standalone homes and a large garage on Court St, offering flexible revenue streams. Prime Lot: A spacious parcel that spans the length of a full city block, connecting the buildings and providing outdoor potential. Currently, 5 of the 8 units are occupied by long-term tenants, ensuring immediate rental income while leaving room for value-add opportunities. With its blend of historic character and untapped potential, this property is ideal for the savvy investor looking to enhance portfolio performance.
Full Property Details
Full Property Details for 1031 Penn St
General
- Price: $550,000
- Taxes: $4,676 (2024)
- Status: Active
- Type: Multi-Family
- Source: BrightMLSPhilly
- MLS ID: PABK2051270
- Updated: 11/20/2024
- Added to Site: 7 day(s) ago
Interior
- Interior Features: Built-Ins, Carpet, Ceiling Fan(s), Entry Level Bedroom
- Appliances: Refrigerator, Oven/Range - Gas
- Flooring: Carpet, Hardwood, Vinyl, Tile/Brick
Exterior
- Exterior Features: Fire Escape, Sidewalks, Street Lights
Parking
- Parking Type: On Street
Location
- Area: Reading City (10201)
- Municipality: READING CITY
- County: Berks
- Cross Streets: 11th St
- Driving Directions: From Center City Reading, drive up Penn St to last block before City Park
- Location Details: Urban
School Information
- School District: Reading
Heating & Cooling
- Cooling Type: None
- Heating Type: Hot Water, Radiator
- Heating Fuel: Oil
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Info: Traditional
- Architectural Style: Traditional
- Structure Type: Other
- Construction: Brick
- Foundation: Stone, Brick/Mortar
- Roof: Flat, Rubber
- Stories/Levels: 0
- Square Feet: 6,000
- Sq. Ft. Source: Estimated
- Living Area: 6,000 Sq. Ft.
- Finished Above Grnd: 6,000 Sq. Ft.
- Year Built: 1890
- Year Built Source: Estimated
Unit Information
- Other Units: Unit 1, Unit 2, Unit 4, Unit 5, Unit 8, Unit 3, Unit 6, Unit 7
- 1 Bedroom Units: 4
- 2 Bedroom Units: 3
- 3 Bedroom Units: 1
Unit 1
- Unit Description: Unit 1
- Bedrooms: 2
Unit 2
- Unit Description: Unit 2
- Bedrooms: 1
Unit 3
- Unit Description: Unit 3
- Bedrooms: 1
Unit 4
- Unit Description: Unit 4
- Bedrooms: 3
Unit 5
- Unit Description: Unit 5
- Bedrooms: 1
Unit 6
- Unit Description: Unit 6
- Bedrooms: 1
Unit 7
- Unit Description: Unit 7
- Bedrooms: 2
Unit 8
- Unit Description: Unit 8
- Bedrooms: 2
Lot Features
- Property View: Street
- Lot Size (Acres): 0.18
- Lot Size (Sq. Ft.): 7,840
- Lot Size Source: Assessor
- Lot Dimensions: 0.00 x 0.00
- Lot Features: Level, Rear Yard
- Zoning: R3
- Lot Description: Level, Rear Yard
Financial Considerations
- Price Per Sq. Ft.: $91.67
- Operating Expenses: $25,288
- Assessment Year: 2024
- School Tax: $1,888
- City/TownTax: $1,909
- City/TownTax Freq: Annually
- County Tax: $879
- County Tax Freq: Annually
- Tax w/Assessment: $105,300
- Tax Amount: $4,676
- Tax Year: 2024
- Owner Pays: Common Area Maintenance, Heat, Heater Maintenance Contract, Insurance, Lawn/Shrub Care, Pest Control, Repairs, Sewer, Taxes - Real Estate, Trash Collection, Water
- Landlord Pays: Common Area Maintenance, Heat, Heater Maintenance Contract, Insurance, Lawn/Shrub Care, Pest Control, Repairs, Sewer, Taxes - Real Estate, Trash Collection, Water
Disclosures and Reports
- Ownership: Fee Simple
- Exclusions: Tenants personal property, Wood stove and radiator covers at 1036 Court St,
- Inclusions: Refrigerators and stoves
- Lot Number: 8378
Listed by RE/MAX Of Reading, Collier Golden
We Value Your Privacy
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Listing agent
— 1031 Penn St —
Collier Golden
RE/MAX Of Reading
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 1031 Penn St
School District:Reading School District
| Rating | Name | Grades | Distance |
|---|---|---|---|
|
955 Penn St, Reading, PA 19601 | K-5 | 0.1 mi | |
|
931 Chestnut St, Reading, PA 19602 | 6-7 | 0.2 mi | |
|
801 N 13th St, Reading, PA 19604 | 10-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1031 Penn St
Tax History
Tax History for 1031 Penn St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$2,788
-39%
$105,300
—
2023
$4,603
—
$105,300
—
2022
$4,603
—
$105,300
—
2021
$4,603
1%
$105,300
—
2020
$4,557
—
$105,300
—
2019
$4,557
—
$105,300
—
2018
$4,557
1%
$105,300
—
2017
$4,527
1%
$105,300
—
2016
$4,472
5%
$105,300
—
2015
$4,262
1%
$105,300
—
2014
$4,210
—
$105,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1031 Penn St
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- Single Family
- Active
- Updated 1 day ago
- 2Beds
- 2Total Baths
- 1,204Sq. Ft.
- Single Family
- Active
- Updated 20 hours ago
- 4Beds
- 2Total Baths
- 1,624Sq. Ft.
- Single Family
- Active
- Updated 3 days ago
- 4Beds
- 4Total Baths
- 3,072Sq. Ft.
Listed by David Wissler Team (717) 735-8400
- Single Family
- Active
- Updated 5 days ago
- 3Beds
- 2Total Baths
- 2,150Sq. Ft.
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- Single Family
- Active
- Updated 5 days ago
- 6Beds
- 7Total Baths
- 8,275Sq. Ft.
Listed by Jerry Buffa (484) 529-9521
- Single Family
- Active
- Updated 6 days ago
- 2Beds
- 1Total Bath
- 1,215Sq. Ft.
- Single Family
- Active
- Updated 23 hours ago
- 3Beds
- 3Total Baths
- 2,876Sq. Ft.
1031 Penn Street, Reading, PA 19601 (MLS# PABK2051270) is a Multi-Family property with 4 units containing 0 bedrooms and 0 full bathrooms. 1031 Penn Street is currently listed for $550,000 and was received on November 19, 2024. Want to learn more about 1031 Penn Street? Do you have questions about finding other Multi-Family real estate for sale in Reading? You can browse all Reading real estate or contact a Coldwell Banker agent to request more information.