4-Unit Apartment Building with
New
For Sale
$399,900
109 HOLLYWOOD AVENUE, Reading, PA 19606
Each residence offers two bedrooms, a kitchen, a bath, and a private deck.
Property Size3,848 SF
Price / SF$103.92
Days on Market4
Property Features for 109 HOLLYWOOD AVENUE
General Information
Standard status
Active
Size
3,848 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
basement
deck
storage_area
Building Details
Year Built
1920
Buildings
1
Listing Agency:
RE/MAX Of Reading
(610) 670-2770
Listed By:
David M Mattes · License #RS-208588-L
(610) 334-0294
Source:
Cummingsrealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 6:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Of Reading
Investment Insights
Based on property information with market context.
This four-unit apartment property at 109 Hollywood Avenue in Reading contains four two-bedroom residences, each with a living room, kitchen, bathroom, and deck. One apartment has been recently renovated. Deck condition varies, with some needing attention. A full basement provides an individual storage area for each apartment.
Four garages are located behind the building and are rented. The property was built in 1920.
Four garages are located behind the building and are rented. The property was built in 1920.
Key Highlights
- Four apartments, each configured with two bedrooms
- Four rear garages are rented
- One apartment has been recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$663,160
$663.2K
Cap Rate 7%
$473,686
$473.7K
Cap Rate 9%
$368,422
$368.4K
Market Conditions
NOI Build-Up for 3,848 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$62.8K $16.32/SF
− Vacancy
−$2.5K −$0.65/SF
EGI
$60.3K $15.67/SF
− OpEx
−$27.1K −$7.05/SF
NOI
$33.2K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$663,160
Cap Rate 7%
$473,686
Cap Rate 9%
$368,422
Alternative Uses
Best Use
Multifamily LT 5
$541.9K
$474.2K – $632.3K
NOI $37,936 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,158 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$631.7K
$552.7K – $737.0K
NOI $44,218 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 19606, PA
35,153
Population
14,593
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
26.7 sq mi
ZIP Area
1,317
Density / Sq Mi
$81,872
Median Household Income
$45,583
Median Earnings
$1,282
Median Rent
$229,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers two bedrooms, a kitchen, a bath, and a private deck.
Where is this quadplex located?
The property is located at 109 HOLLYWOOD AVENUE Reading, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four apartments, each configured with two bedrooms; Four rear garages are rented; One apartment has been recently renovated
