10-Unit Renovated Apartment
121-123 N 9th St, Reading, PA 19601
For Sale
Contact for pricing
The recently rehabilitated property offers a mix of studio, one-bedroom, and three-bedroom residences.
Property Size5,500 SF
Lot Size0.08 Acres
Price / SF$254.55
Days on Market23
Property Features for 121-123 N 9th St
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Average Monthly Rent
Site & Location
Highway Access
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Year Renovated
Buildings
Construction
Listing Agency:
Horvath & Tremblay
Listed By:
Craig Dunkle · License PA RS324418
(215) 302-4400
Source:
Crexi
Added: Oct 22
Changed: Nov 10
Last Checked: Nov 12 at 8:25AM
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 Horvath & Tremblay
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This masonry apartment property contains 10 units: two studios, five one-bedroom apartments, and three three-bedroom apartments. One of the three-bedroom homes has two bathrooms. The building provides approximately 4,700 square feet of gross living area, with roughly 5,500 square feet of total gross area, on a 0.08-acre parcel. A gut renovation completed between 2024 and 2026 reworked floor plans, building systems, and interior finishes. The property has received its Certificate of Occupancy and is in lease-up. Electric heat and hot water serve the apartments; electric, water, and sewer are separately metered, and tenants pay utilities.
In downtown Reading, the building is on North 9th Street between Washington and Walnut Streets, two blocks north of Penn Street. Reading City Hall is about one block away. The BARTA Transportation Center, Berks County Courthouse, Santander Arena, and Santander Performing Arts Center are within walking distance. U.S. Routes 422 and 222 provide regional connections; Philadelphia is approximately 56 miles to the southeast.
In downtown Reading, the building is on North 9th Street between Washington and Walnut Streets, two blocks north of Penn Street. Reading City Hall is about one block away. The BARTA Transportation Center, Berks County Courthouse, Santander Arena, and Santander Performing Arts Center are within walking distance. U.S. Routes 422 and 222 provide regional connections; Philadelphia is approximately 56 miles to the southeast.
Key Highlights
- 10 apartments: 2 studios, 5 one‑bedroom units, and 3 three‑bedroom units
- Approximately 4,700 square feet of gross living area; 5,500 SF gross area
- 0.08‑acre parcel in downtown Reading
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,393
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$947,860
$947.9K
Cap Rate 7%
$677,043
$677.0K
Cap Rate 9%
$526,589
$526.6K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$89.8K $16.32/SF
− Vacancy
−$3.6K −$0.65/SF
EGI
$86.2K $15.67/SF
− OpEx
−$38.8K −$7.05/SF
NOI
$47.4K $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 Rate 5%
$947,860
Cap Rate 7%
$677,043
Cap Rate 9%
$526,589
Alternative Uses
Best Use
Apartment 5plus
$677.0K
$592.4K – $789.9K
NOI $47,393 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$902.9K
$790.0K – $1.05M
NOI $63,202 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,693
Businesses Nearby
Explore this area
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
$110,700
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Reading, PA
Properties on Market for Apartment buildings in Reading
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The recently rehabilitated property offers a mix of studio, one-bedroom, and three-bedroom residences.
Where is this apartment building located?
The property is located at 121-123 N 9th St Reading, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 10 apartments: 2 studios, 5 one‑bedroom units, and 3 three‑bedroom units; Approximately 4,700 square feet of gross living area; 5,500 SF gross area; 0.08‑acre parcel in downtown Reading
