11-Unit Multifamily
For Sale
$995,000
1220 PERKIOMEN AVENUE, Reading, PA 19602
11-unit multifamily property with approximately 5,000 SF of living space and public water and sewer services.
Property Size8,464 SF
Price / SF$117.56
Days on Market72
Property Features for 1220 PERKIOMEN AVENUE
General Information
Standard status
Active
Size
8,464 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$15,094
Amenities
3
Hardwood, Carpet
Rubber
Parking. Corner Lot.
On Street.
City
0.00 x 0.00
Corner.
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Bold Realty
Listed By:
Trent Stauffer · License #RM422216
(610) 373-8701
Source:
Xome
Added: Jun 28
Changed: Sep 5
Last Checked: Sep 7 at 5:39AM
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 Bold Realty
Investment Insights
Based on property information with market context.
This 11-unit multifamily investment property offers approximately 5,000 SF of living space. The offering is described as having a strong rental history with consistent occupancy, supported by its current income-producing operation. Public water and sewer are available.
Located in Reading, the property is noted as being convenient to shopping, dining, schools, and public transportation, with easy access to major roadways and downtown Reading.
The asset presents as a straightforward multifamily opportunity for buyers seeking an income-producing property with an established rental performance profile.
Located in Reading, the property is noted as being convenient to shopping, dining, schools, and public transportation, with easy access to major roadways and downtown Reading.
The asset presents as a straightforward multifamily opportunity for buyers seeking an income-producing property with an established rental performance profile.
Key Highlights
- 11‑unit multifamily property with approximately 5,000 SF of living space
- Public water and sewer services
- Corner lot with on‑street parking
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
$72,934
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
7.33%
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%
$1,458,680
$1.5M
Cap Rate 7%
$1,041,914
$1.0M
Cap Rate 9%
$810,378
$810.4K
Market Conditions
NOI Build-Up for 8,464 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
$138.1K $16.32/SF
− Vacancy
−$5.5K −$0.65/SF
EGI
$132.6K $15.67/SF
− OpEx
−$59.7K −$7.05/SF
NOI
$72.9K $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%
$1,458,680
Cap Rate 7%
$1,041,914
Cap Rate 9%
$810,378
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$911.7K – $1.22M
NOI $72,934 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,262 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
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?
Apartment building - 11-unit multifamily property with approximately 5,000 SF of living space and public water and sewer services.
Where is this apartment building located?
The property is located at 1220 PERKIOMEN AVENUE Reading, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 11‑unit multifamily property with approximately 5,000 SF of living space; Public water and sewer services; Corner lot with on‑street parking
