Agent profile image in chat bubble
Agent profile image in chat header

IDX Support

sales rep | Brivity IDX

Agent profile image in message

128 128-130 Elm St , Reading, PA 19601
$449,999
Est. Payment: $2,430.97/mo
10 Bed
4 Bath
3994 Sqft
0.07 Acres
Status: pending | Days on site: 15
Get Pre-Qualified
CBSLCT-W - 3271921
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from IDX Support, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.

House Description

Income-Producing Multifamily Investment with Value-Add Potential in the Heart of Reading! Don't miss this exciting investment opportunity at 128 and 130 Elm Street, Reading, PA 19601! This end-row multifamily property features four residential units in an R-3 zoning district, along with additional income potential from individually rented parking spaces. Already generating rental income, this property offers investors the opportunity to build on an existing income stream while adding value through improvements and some needed TLC. The property consists of four 2-bedroom apartments, one studio. Current rents include $1,200 per month for each 2-bedroom unit, $900 for the studio, and $1,300 for one of the 2- Spacious bedroom apartment. One 2-bedroom unit is currently vacant, offering an immediate opportunity for a new owner to lease the unit and increase rental income. Additional revenue is generated through separately rented parking spaces. The property annual gross income of $73,200, with annual operating expenses of approximately $19,726, including real estate taxes 2,266 insurance 2,500, WSTR 6000, permits 200, Owner electricity,1,440 and property management 10%. Based on these figures, the reported net operating income (NOI) is $53,474, representing an approximate 11% cap rate. While some areas of the property would benefit from updates and improvements, this presents an excellent opportunity for investors looking to unlock additional value, enhance the property's appeal, and potentially improve future rental performance. Whether you're an experienced investor seeking to expand your portfolio or looking for your next value-add project, this property offers a combination of existing cash flow and future upside. Conveniently located near downtown Reading, public transportation, shopping, restaurants, and everyday amenities, this multifamily investment offers multiple income streams, additional rental potential, and the opportunity to make your mark in a growing investment portfolio. Bring your vision, explore the possibilities, and turn this income-producing property into an even stronger investment! Schedule your showing today!

Highlights

Listed by Mini J Castaneda , 6105076352 Coldwell Banker Realty , 6103739900. Bright MLS

Property Type

Multi-Family

Lot/Acreage
0.07

Year Built

1892

County

Berks

Area

Reading City (10201)

School District

Reading

Listing ID

PABK2079922

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:10
  • ▪ Bathrooms:4
  • ▪ Full Bathrooms:4
Above Ground Sq Ft:3994
Basement:Full
Water:Public

Exterior Features

Lot:Not New Construction,Horse Property: No
Lot Dimensions:0.00 x 0.00
Garage Capacity:3
Zoning:MULTI FAMILY
Others:
  • ▪ Additional:Average
Sewer:Public Sewer
Parking Features:Crushed Stone,On Street,Off Street,3+ Spaces,2+ Spaces,1+ Spaces
Principal Interest
$2,431
Taxes
$87

Home Price

$449,999

Loan Details

30 yrs
7.148%

Down Payment

20%
$90,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,430.97

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,430.97 $87.25 $0.00 $2,518.22
Yearly $29,171.67 $1,047.00 $0.00 $30,218.67
Total $875,150.10 $31,410.00 $0.00 $906,560.10
Lender profile image
Chico Gordy
Test
GET PRE-QUALIFIED

Never Miss a Property

Be the first to know when a property hits the market.

Current Listings

Last 30 Days
N/A
Nov 2026

Average Price

All Price Ranges
N/A
Nov 2026

Average Days on Market

All Price Ranges
N/A
Nov 2026
Market insight data is pulled from the same city as the listing being viewed (Reading, PA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bright MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-14T01:13:51.000Z

© 2026 Bright MLS