Tenant-Occupied
For Sale
$350,000
1129 North 9th Street, Reading, PA 19604
Three residential units provide leased occupancy with varied lease terms and multifamily zoning.
Property Size2,394 SF
Price / SF$146.20
Days on Market78
Property Features for 1129 North 9th Street
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL MULTI FAMILY
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,262
Amenities
No
No Pool
Exterior Lighting
Building Details
Year Built
1910
Stories
3
Listing Agency:
Coldwell Banker Realty
(610) 507-8428
Listed By:
Luis Martinez · License #RS348957
(610) 507-8428
Source:
Compass
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 30 at 3:08PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,394-square-foot triplex, built in 1910, contains three separate residential units with a combined total of five bedrooms and three full bathrooms. The first-floor residence has two bedrooms and one full bathroom and is leased month to month. The second-floor 2A unit includes two bedrooms and one full bathroom under a six-month lease, while third-floor 2C offers one bedroom and one full bathroom with a six-month lease. All three units are currently occupied.
The property is zoned RESIDENTIAL MULTI FAMILY and is located in Reading, Berks County, within the Reading City MLS area. Schools, shopping, restaurants, public transportation, and major roadways are identified nearby. The varied lease terms provide different renewal timelines across the three residences.
The property is zoned RESIDENTIAL MULTI FAMILY and is located in Reading, Berks County, within the Reading City MLS area. Schools, shopping, restaurants, public transportation, and major roadways are identified nearby. The varied lease terms provide different renewal timelines across the three residences.
Key Highlights
- Three occupied residential units totaling 2,394 SF
- Unit mix includes two 2‑bedroom residences and one 1‑bedroom residence
- Five bedrooms and three full bathrooms across the property
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
$23,601
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
6.74%
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%
$472,020
$472.0K
Cap Rate 7%
$337,157
$337.2K
Cap Rate 9%
$262,233
$262.2K
Market Conditions
NOI Build-Up for 2,394 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
$35.0K $14.64/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$33.7K $14.08/SF
− OpEx
−$10.1K −$4.23/SF
NOI
$23.6K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
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%
$472,020
Cap Rate 7%
$337,157
Cap Rate 9%
$262,233
Alternative Uses
Best Use
Multifamily LT 5
$337.2K
$295.0K – $393.4K
NOI $23,601 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$294.7K
$257.9K – $343.8K
NOI $20,629 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$393.0K
$343.9K – $458.5K
NOI $27,510 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 19604, PA
29,347
Population
10,089
Households
2.9
Avg Household Size
29
Median Age
10%
College-Educated
70%
High-School Grad
2.5 sq mi
ZIP Area
11,739
Density / Sq Mi
$52,863
Median Household Income
$30,975
Median Earnings
$1,100
Median Rent
$110,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide leased occupancy with varied lease terms and multifamily zoning.
Where is this triplex located?
The property is located at 1129 North 9th Street Reading, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three occupied residential units totaling 2,394 SF; Unit mix includes two 2‑bedroom residences and one 1‑bedroom residence; Five bedrooms and three full bathrooms across the property
