Penthouse Residential Income
For Sale
$229,900
1375 PERSHING BOULEVARD #608, Reading, PA 19607
Top-floor end-unit condo with balcony, garage space, storage, and updated mechanical systems.
Property Size1,943 SF
Price / SF$114.95
Days on Market92
Property Features for 1375 PERSHING BOULEVARD #608
General Information
Standard status
Active
Size
1,943 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
HOA Fee
$568
Amenities
balcony
storage unit
Building Details
Building Size
1,943 SF
Year Built
1976
Listing Agency:
United Real Estate Strive 212
Listed By:
Clarence E Levan
(610) 372-0212
Source:
Tylermillerteam.kw
Added: Jun 4
Changed: Aug 30
Last Checked: Aug 31 at 12:43PM
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 United Real Estate Strive 212
Investment Insights
Based on property information with market context.
This penthouse condominium offers 2,000SF of single-level living in a three-bedroom, two-bath layout. Positioned at the end of the hallway, the unit includes a balcony reached through two sets of sliding doors, bringing natural light into the interior. Neutral finishes, a private garage space, and a separate storage unit add practical features for everyday use.
The heating and A/C unit, windows, and doors were replaced within the last 8 years. The windows carry a guarantee for the life of the building, which was built in 1976. Association services include water, sewage, heat, gas cooking, garage space, snow removal, lawn care, and exterior maintenance.
A no-smoking rule applies to new owners, and pets are not permitted except for service animals.
The heating and A/C unit, windows, and doors were replaced within the last 8 years. The windows carry a guarantee for the life of the building, which was built in 1976. Association services include water, sewage, heat, gas cooking, garage space, snow removal, lawn care, and exterior maintenance.
A no-smoking rule applies to new owners, and pets are not permitted except for service animals.
Key Highlights
- 2,000SF of single‑level living with three bedrooms and 2 baths
- Penthouse end‑of‑hall location with balcony access through two sets of sliding doors
- Heating and A/C unit, windows, and doors replaced within the last 8 years
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
$17,234
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
7.50%
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%
$344,680
$344.7K
Cap Rate 7%
$246,200
$246.2K
Cap Rate 9%
$191,489
$191.5K
Market Conditions
NOI Build-Up for 2,000 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
$32.6K $16.32/SF
− Vacancy
−$1.3K −$0.65/SF
EGI
$31.3K $15.67/SF
− OpEx
−$14.1K −$7.05/SF
NOI
$17.2K $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%
$344,680
Cap Rate 7%
$246,200
Cap Rate 9%
$191,489
Alternative Uses
Best Use
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,234 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.3K
$287.3K – $383.0K
NOI $22,982 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 19607, PA
23,431
Population
10,177
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
11.2 sq mi
ZIP Area
2,092
Density / Sq Mi
$80,550
Median Household Income
$46,953
Median Earnings
$1,283
Median Rent
$210,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor end-unit condo with balcony, garage space, storage, and updated mechanical systems.
Where is this residential income property located?
The property is located at 1375 PERSHING BOULEVARD #608 Reading, PA.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 2,000SF of single‑level living with three bedrooms and 2 baths; Penthouse end‑of‑hall location with balcony access through two sets of sliding doors; Heating and A/C unit, windows, and doors replaced within the last 8 years
