Two-Unit Duplex with
For Sale
$175,000
120 W ELM Street, Reading, PA 19601
Multi-Family, READING, PA
Property Size1,080 SF
Lot Size0.04 Acres
Price / SF$162.04
Days on Market59
Property Features for 120 W ELM Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Garage - Attached
Elementary school district
READING
Middle school district
READING
High school district
READING
Standard status
Active
Size
1,080 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1010
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
MOUNA TABAT · License #RS375006
(484) 529-3923
Added: Aug 19
Changed: Oct 15
Last Checked: Oct 16 at 12:06PM
MLS# PABK2073522
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,080-square-foot brick duplex contains two one-bedroom apartments on a 0.04-acre lot. The first-floor unit has been remodeled and is vacant; the second-floor apartment is occupied. Both electric water heaters were replaced in 2024, and the building has electric baseboard heat, window air-conditioning units, and a basement. Built in 1910, the property is professionally managed.
A two-car garage sits behind the building, although it currently has no garage door. Two additional parking spaces are located in front of the garage. Each apartment has separate utility meters for heat and electricity.
A two-car garage sits behind the building, although it currently has no garage door. Two additional parking spaces are located in front of the garage. Each apartment has separate utility meters for heat and electricity.
Key Highlights
- Two one‑bedroom apartments in a 1,080‑square‑foot duplex
- First‑floor apartment is remodeled and vacant; second‑floor apartment is occupied
- Two‑car garage without a door, plus two parking spaces in front
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,647
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,940
$212.9K
Cap Rate 7%
$152,100
$152.1K
Cap Rate 9%
$118,300
$118.3K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$15.8K $14.64/SF
− Vacancy
−$601 −$0.56/SF
EGI
$15.2K $14.08/SF
− OpEx
−$4.6K −$4.23/SF
NOI
$10.6K $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 Rate 5%
$212,940
Cap Rate 7%
$152,100
Cap Rate 9%
$118,300
Alternative Uses
Best Use
Multifamily LT 5
$152.1K
$133.1K – $177.5K
NOI $10,647 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$132.9K
$116.3K – $155.1K
NOI $9,306 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$177.3K
$155.1K – $206.8K
NOI $12,410 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,121
Businesses Nearby
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Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters serve the two one-bedroom apartments.
Where is this duplex located?
The property is located at 120 W ELM Street Reading, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two one‑bedroom apartments in a 1,080‑square‑foot duplex; First‑floor apartment is remodeled and vacant; second‑floor apartment is occupied; Two‑car garage without a door, plus two parking spaces in front
