731 Washington Street, Reading, PA 19601 - Photo 1

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$475,000

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Active
Apartment

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Property Description

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.

Full Property Details

Full Property Details for 731 Washington St

General

Price: $475,000
Taxes: $2,375 (2025)
Status: Active
Type: Apartment
Source: BrightMLSPhilly
MLS ID: PABK2063726
Updated: 12/17/2025
Added to Site: 109 day(s) ago

Business

Business Type: Apartment Building, Restaurant/Bar

Interior

Flooring: Wood, Carpet

Parking

Parking Type: None

Location

Area: Reading City (10201)
Municipality: READING CITY
County: BERKS
Cross Streets: Washington
Driving Directions: Please use GPS
Location Details: Downtown

Heating & Cooling

Central air: Yes
Cooling Type: Ceiling Fan(s), Central A/C, Window Unit(s)
Cooling Fuel: Electric
Heating Type: Forced Air
Heating Fuel: Natural Gas
Water Heater: Natural Gas

Utilities

Sewer: Public Sewer
Water: Public
Utility Description: Water Available, Sewer Available, Natural Gas Available, Electric Available, Phone, Cable TV Available

Structural Information

Construction: Stone, Copper Plumbing
Roof: Pitched
Building Size: 3800
Year Built: 1915
Year Built Source: Estimated

Unit Information

# Tenants: Multiple

Lot Features

Property View: City
Lot Size (Acres): 0.05
Lot Size (Sq. Ft.): 2,178
Lot Size Source: Assessor
Zoning: MIX C

Financial Considerations

Price Per Sq. Ft.: $125
Assessment Year: 2025
School Tax: $945
City/TownTax: $955
City/TownTax Freq: Annually
County Tax: $475
County Tax Freq: Annually
Tax w/Assessment: $52,700
Tax Amount: $2,375
Tax Year: 2025

Disclosures and Reports

Ownership: Fee Simple
Lot Number: 2887

Listed by EXP Realty, LLC, Taj S Simmons

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Listing agent

— 731 Washington St —

Taj S Simmons

EXP Realty, LLC

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Schools

Schools serving 731 Washington St

School District:Reading School District

Name	Grades	Distance
Tenth & Penn El School 955 Penn Street, Reading, PA 19601	PK-4	0.2 mi
Southern Middle School, Reading, PA 931 Chestnut Street, Reading, PA 19602	5-8	0.4 mi
Reading Senior High School 801 North 13th Street, Reading, PA 19604	9-12	1 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 731 Washington St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

12/09/2025

Price Reduced

$475,000

-5%

MLS

10/03/2025

Listed

$500,000

—

MLS

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 731 Washington St

Year

Property Taxes

Change

Tax Assessment

Change

2025

$1,430

3%

$52,700

—

2024

$1,395

-39%

$52,700

—

2023

$2,304

—

$52,700

—

2022

$2,304

—

$52,700

—

2021

$2,304

—

$52,700

—

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

Estimate the Cost for 731 Washington St

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731 Washington Street, Reading, PA 19601 (MLS# PABK2063726) is a Apartment property. 731 Washington Street is currently listed for $475,000 and was received on October 03, 2025. Want to learn more about 731 Washington Street? Do you have questions about finding other Apartment real estate for sale in Reading? You can browse all Reading real estate or contact a Coldwell Banker agent to request more information.

731 Washington St Reading, PA 19601