Two-Unit Duplex with
For Sale
$285,000
Pending
1342 ALLEGHENY AVE, Reading, PA 19601
Fully occupied duplex with two one-bedroom residences, renovated garages, and private parking.
Property Size1,148 SF
Days on Market91
Property Features for 1342 ALLEGHENY AVE
General Information
Standard status
Pending
Size
1,148 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
JM Diamond Realty
(610) 750-6078
Listed By:
Jose F Manzueta · License #RM426115
(484) 219-9232
Source:
Graves
Added: Jul 15
Changed: Oct 1
Last Checked: Oct 12 at 8:23PM
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 JM Diamond Realty
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two separate one-bedroom residences, with one unit on each floor. Both apartments are currently occupied, and the property also includes garages that have been renovated and are rented separately. Private parking serves the property. The address provides access to major highways, stores, and schools while remaining outside the major city. The two-level configuration and additional garage space create a straightforward residential income property profile.
Key Highlights
- Two‑unit duplex with one one‑bedroom residence on each floor
- Both residential units are currently tenant occupied
- Garages have been recently renovated and are rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,318
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,360
$226.4K
Cap Rate 7%
$161,686
$161.7K
Cap Rate 9%
$125,756
$125.8K
Market Conditions
NOI Build-Up for 1,148 SF
Gross rent
$16.8K $14.64/SF
− Vacancy
−$639 −$0.56/SF
EGI
$16.2K $14.08/SF
− OpEx
−$4.9K −$4.23/SF
NOI
$11.3K $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%
$226,360
Cap Rate 7%
$161,686
Cap Rate 9%
$125,756
Alternative Uses
Best Use
Multifamily LT 5
$161.7K
$141.5K – $188.6K
NOI $11,318 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$141.3K
$123.7K – $164.9K
NOI $9,892 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
526
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
Check the figures for this property
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?
Duplex - Fully occupied duplex with two one-bedroom residences, renovated garages, and private parking.
Where is this duplex located?
The property is located at 1342 ALLEGHENY AVE Reading, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with one one‑bedroom residence on each floor; Both residential units are currently tenant occupied; Garages have been recently renovated and are rented
