Four-Unit Apartment
148 South 9th Street Reading, PA 19602
148 South 9th Street, Reading, PA, 19602
$399,000
For Sale
$399,000
Four-unit residential income building with one vacant unit, where tenants pay electric, heat, gas, and hot water.
Property Size2,668 SF
Price / SF$149.55
Days on Market154
Property Features for 148 South 9th Street
General Information
- Standard status
- Active
- Size
- 2,668 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing agency
Iron Valley Real Estate of Berks
(610) 780-3024
Listed by
John H Gantkowski Jr. · License #rs299403
(610) 780-3024
Source
Compass
Added: Feb 18 Updated: Jul 21 at 11:22PM Checked: Jul 22 at 9:58AM
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 Iron Valley Real Estate of Berks
Investment Insights
Based on property information with market context.
This four-unit apartment building offers an oversized layout with more than 2,600 square feet of living space and an additional-light setup at the end of the row. One unit is currently vacant, with the remaining three units occupied under an existing rent schedule.
The tenant-paid utilities include electric, heat, cooking gas, and hot water, while owner expenses are limited to water, sewer, trash, insurance, and taxes.
Current rents include two bedroom at $1,300 per month, two separate one bedroom units at $1,100 per month each, and a studio unit at $950 per month.
The tenant-paid utilities include electric, heat, cooking gas, and hot water, while owner expenses are limited to water, sewer, trash, insurance, and taxes.
Current rents include two bedroom at $1,300 per month, two separate one bedroom units at $1,100 per month each, and a studio unit at $950 per month.
Key Highlights
- Four‑unit apartment building with more than 2,600 sq ft of living space
- Current rent roll: 2BR $1,300/mo; 1BR x2 at $1,100/mo each; studio $950/mo
- One unit vacant, offering owner‑occupant option while other units help cover the mortgage
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.1k | $14.64 |
| − Vacancy | −$1.5k | −$0.56 |
| EGI | $37.6k | $14.08 |
| − OpEx | −$11.3k | −$4.23 |
| NOI | $26.3k | $9.86 |
2,668 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$375.8K
$328.8K – $438.4K
NOI $26,303 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.2K
NOI $22,990 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$438.0K
$383.2K – $511.0K
NOI $30,659 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit residential income building with one vacant unit, where tenants pay electric, heat, gas, and hot water.
Where is this quadplex located?
The property is located at 148 South 9th Street Reading, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit apartment building with more than 2,600 sq ft of living space; Current rent roll: 2BR $1,300/mo; 1BR x2 at $1,100/mo each; studio $950/mo; One unit vacant, offering owner‑occupant option while other units help cover the mortgage
