1031 Penn Street
Reading, PA 19601
- – beds
- – baths
- 6,000 sqft
- 7,840 sqft lot
- $96 per sqft
- 1890 build
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Highest and Best offers are due by Sat 12/7/24 at 11:00 AM. 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.
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Last updated Jan 15, 2025
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MLS# PABK2051270 —
The Building
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Year Built:1890
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Year Built Source:Estimated
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Roof:Flat, Rubber
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New Construction:No
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Construction Materials:Brick
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Building Units Total:4
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Structure Type:Other
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Architectural Style:Traditional
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Accessibility Features:None
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Foundation Details:Stone, Brick/Mortar
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Total SqFt Source:Estimated
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Total Below Grade SqFt Source:Assessor
Interior
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Interior Features:Built-Ins, Carpet, Ceiling Fan(s), Entry Level Bedroom
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Flooring Type:Carpet, Hardwood, Vinyl, Tile/Brick
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Fireplace:No
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Living Area SqFt Source:Estimated
Room Dimensions
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Total SqFt:6000
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Living Area SqFt:6,000 Sqft
Financial & Terms
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Sale Type:Standard
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Buyer Financing:Other
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Possession:Immediate
Location
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Directions:From Center City Reading, drive up Penn St to last block before City Park
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Cross Street:11th St
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Latitude:40.33565000
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Longitude:-75.91700000
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Location Type:Urban
The Property
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Property Type:Multi-Family
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Property Subtype:Other
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Lot Size Units:Square Feet
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Lot Size Acres:0.18
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Lot Size Source:Assessor
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Lot Size Dimensions:0.00 x 0.00
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Lot Dimensions Source:Assessor
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Lot Features:Level, Rear Yard
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Lot SqFt:7,840 Sqft
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Inclusions:Refrigerators and stoves
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Exclusions:Tenants personal property, Wood stove and radiator covers at 1036 Court St,
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Zoning:R3
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Zoning Description:Residential
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View:Street
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Other Structures:Above Grade, Below Grade
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Waterview:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Land Use Code:4200
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (610) 914-4581
- Office phone:
- (610) 670-2770
Taxes
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Tax ID Number:08-5317-77-00-8378
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Tax Year:2024
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Tax Lot:8378
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Tax Annual Amount:$4,676
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Tax Assessed Value:$105,300
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Year Assessed:2024
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School Tax:1888.0
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County Tax:879.00
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City/Town Tax:1909.00
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Total Taxes Payment Frequency:Annually
The Listing
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Close Sale Type:Standard Sale
Heating & Cooling
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Cooling Type:None
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Central Air:No
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Cooling Fuel:None
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Heating:Yes
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Heating Type:Hot Water, Radiator
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Heating Fuel:Oil
Utilities
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Sewer/Septic:Public Sewer
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Hot Water:Electric
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Water Source:Public
Appliances
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Appliances:Refrigerator, Oven/Range - Gas
Schools
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School District Name:Reading
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School District Source:Listing Agent
The Community
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Exterior Features:Fire Escape, Sidewalks, Street Lights
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Pool:No Pool
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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# of Units:4
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Other Units:Unit 1,Unit 2,Unit 4,Unit 5,Unit 8,Unit 3,Unit 6,Unit 7
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Vacation Rental:No
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One Bedroom Units:4
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Two Bedroom Units:3
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Three Bedroom Units:1
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
1/14/25
Jan 14, 2025
|
Sold | BRIGHT | $576,000 | 4.7% |
12/11/24
Dec 11, 2024
|
Pending | BRIGHT | $550,000 | |
11/19/24
Nov 19, 2024
|
Listed / Active | BRIGHT | $550,000 |