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Exceptional investment opportunity in the heart of Reading. This mixed-use property combines 729 and 731 Washington Street, which have been annexed and are now considered one building. Fully renovated in 2016, the property offers two commercial units and two residential apartments, providing both stability and upside potential for investors or owner-operators. The residential units include a one-bedroom and a two-bedroom apartment, while the commercial spaces feature an office and a café with utility surcharge. The building has been well-maintained with extensive updates, including a roof and dormer replacement in 2024, a remodeled bathroom in Apartment A in 2022, and a full bathroom upgrade and repaint in Apartment B in 2024-2025. This property generates consistent rental income and, at the asking price of $500,000, reflects an attractive 8.1% cap rate. With its strong rental history, modern upgrades, and prime location near businesses, restaurants, and public transit, it represents a turnkey investment in the heart of the city.
| DAYS ON MARKET | 5 | LAST UPDATED | 10/3/2025 |
|---|---|---|---|
| YEAR BUILT | 1915 | COMMUNITY | Reading City (10201) |
| COUNTY | BERKS | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | READING |
|---|
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Central Air, Electric, Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | Reading City (10201) |
| CONSTRUCTION | Stone |
| HEAT | Forced Air, Natural Gas |
| LOT | 2178 sq ft |
| LOT DIMENSIONS | 0.00 x 0.00 |
| PARKING | None |
| SEWER | Public Sewer |
| TAXES | 2375 |
| UTILITIES | Cable Available, Water Available, Sewer Available, Natural Gas Available, Electricity Available |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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