731 Washington St Reading, PA 19601
Southeast Reading NeighborhoodEstimated payment $2,637/month
Highlights
- Wood Flooring
- Forced Air Heating and Cooling System
- Hot Water Heating System
- Cooling System Mounted In Outer Wall Opening
About This Home
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.
Listing Agent
(888) 397-7352 pa.broker@exprealty.com EXP Realty, LLC License #RS315174 Listed on: 10/03/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,375
Year Built
- Built in 1915
Lot Details
- 2,178 Sq Ft Lot
Home Design
- Stone Siding
Interior Spaces
- 3,800 Sq Ft Home
- Unfinished Basement
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Wall to Wall Carpet
- Tile or Brick
Parking
- Public Parking
- On-Street Parking
Schools
- Reading Senior High School
Utilities
- Cooling System Mounted In Outer Wall Opening
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- Hot Water Heating System
- 200+ Amp Service
- Natural Gas Water Heater
Community Details
- 4 Units
Listing and Financial Details
- Tax Lot 2887
- Assessor Parcel Number 08-5307-84-90-2887
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,430 | $52,700 | $13,100 | $39,600 |
| 2024 | -- | $52,700 | $13,100 | $39,600 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/09/2025 12/09/25 | Price Changed | $475,000 | 0.0% | $125 / Sq Ft |
| 12/09/2025 12/09/25 | For Sale | $475,000 | -5.0% | $125 / Sq Ft |
| 12/06/2025 12/06/25 | Off Market | $500,000 | -- | -- |
| 10/03/2025 10/03/25 | For Sale | $500,000 | -- | $132 / Sq Ft |
Source: Bright MLS
MLS Number: PABK2063730
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