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.
For sale
Price cut: $25K (12/9)
$475,000
731 Washington St, Reading, PA 19601
3beds
4baths
3,800sqft
Est.:
Multi Family
Built in 1915
-- sqft lot
$469,500 Zestimate®
$125/sqft
$-- HOA
What's special
- 82 days |
- 623 |
- 31 |
Zillow last checked: 8 hours ago
Listing updated: December 09, 2025 at 08:02am
Listed by:
Taj Simmons 484-794-3080,
EXP Realty, LLC 8883977352,
Listing Team: The Taj Simmons Team
Source: Bright MLS,MLS#: PABK2063730
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
Basement
- Area: 0
Heating
- Forced Air, Hot Water, Natural Gas
Cooling
- Central Air, Wall Unit(s), Electric
Appliances
- Included: Gas Water Heater
Features
- Flooring: Wood, Carpet, Tile/Brick
- Basement: Full,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 3,800
- Total interior livable area: 3,800 sqft
Property
Parking
- Parking features: Public, On Street
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Exterior features: Sidewalks, Street Lights
- Pool features: None
Lot
- Size: 2,178 Square Feet
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 08530784902887
- Zoning: MIX R
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Multi Family
Materials
- Stone
Condition
- New construction: No
- Year built: 1915
Utilities & green energy
- Electric: 200+ Amp Service
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: None Available
Location
- Region: Reading
- Municipality: READING CITY
Financial & listing details
- Price per square foot: $125/sqft
- Tax assessed value: $52,700
- Annual tax amount: $2,375
- Date on market: 10/3/2025
- Listing agreement: Exclusive Right To Sell
- Listing terms: Conventional
- Ownership: Fee Simple
Estimated market value
$469,500
$446,000 - $493,000
$1,520/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/9/2025 | Price change | $475,000-5%$125/sqft |
Source:  Bright MLS #PABK2063730 Report a problem | ||
| 10/3/2025 | Listed for sale | $500,000$132/sqft |
Source: Bright MLS #PABK2063730 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,375 +1.5% | $52,700 |
| 2024 | $2,340 +1.6% | $52,700 |
| 2023 | $2,304 | $52,700 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,070/mo
Principal & interest
$2302
Property taxes
$602
Home insurance
$166
Climate risks
Neighborhood: 19601
Nearby schools
GreatSchools rating
- 4/10Tenth & Penn El SchoolGrades: PK-4Distance: 0.2 mi
- 4/10Southern Middle SchoolGrades: 5-8Distance: 0.4 mi
- 2/10Reading Senior High SchoolGrades: 9-12Distance: 1 mi
Schools provided by the listing agent
- High: Reading Senior
- District: Reading
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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