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Multifamily

Reading Multifamily Portfolio

413 Green Terrace, Reading, PA 19601

Listing Price: $825,000

Cap Rate
7.49%
Number of Units
11
Price/Unit
$75,000
Price/Gross SF
$87.30
Gross SF
9,450

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire the three property portfolio consisting of: 413 Green Terrace, 317 Elm St, and 425 N 10th St which are all located in Reading, PA 19601. The portfolio consists of 11 total units that are all within a mile radius from one another. The property/unit mix is as follows: 413 Green Terrace - (3) two bedrooms, 317 Elm Street - (5) one bedrooms, 425 N 10th St - (1) three bedroom (2) one bedrooms. The Subject property’s rents are well below market – giving new ownership the ability to increase rents within a very short period of time. Ownership will enjoy having a low vacancy factor, eases of re-leasing, and minimal time spent “turning-units” due to the low vacancies in this area. In fact, the markets vacancies (2.7%) actually declined over the course of 2020 and year over year vacancy adjustments are near -0.8%. Like many secondary markets nearby, Reading’s multifamily sector saw strong gains in rents as well. With so little supply underway and a growing presence of trucking, this market looks to be on very stable ground in 2021.

Investment Highlights

  • Properties Located within 1 Mile Radius
  • Well Below Market Rents
  • Turn Key Management
  • Low Vacancies
  • High Walkability Score

Exclusively Listed By

Multifamily

Reading Multifamily Portfolio

Listing Price: $825,000

Cap Rate
7.49%
Number of Units
11
Price/Unit
$75,000
Price/Gross SF
$87.30
Gross SF
9,450

Investment Highlights

  • Properties Located within 1 Mile Radius
  • Well Below Market Rents
  • Turn Key Management
  • Low Vacancies
  • High Walkability Score

Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire the three property portfolio consisting of: 413 Green Terrace, 317 Elm St, and 425 N 10th St which are all located in Reading, PA 19601. The portfolio consists of 11 total units that are all within a mile radius from one another. The property/unit mix is as follows: 413 Green Terrace - (3) two bedrooms, 317 Elm Street - (5) one bedrooms, 425 N 10th St - (1) three bedroom (2) one bedrooms. The Subject property’s rents are well below market – giving new ownership the ability to increase rents within a very short period of time. Ownership will enjoy having a low vacancy factor, eases of re-leasing, and minimal time spent “turning-units” due to the low vacancies in this area. In fact, the markets vacancies (2.7%) actually declined over the course of 2020 and year over year vacancy adjustments are near -0.8%. Like many secondary markets nearby, Reading’s multifamily sector saw strong gains in rents as well. With so little supply underway and a growing presence of trucking, this market looks to be on very stable ground in 2021.

Exclusively Listed By

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