Two-Unit Mixed-Use
For Sale
$354,900
1601 Elizabeth Avenue, Reading, PA 19605
A ranch-style residence and a separate operating salon occupy a single property.
Property Size1,780 SF
Price / SF$199.38
Days on Market19
Property Features for 1601 Elizabeth Avenue
General Information
Standard status
Active
Size
1,780 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
COMM
Additional Details
Mixed-Use Components
residential, retail
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$4,986
Amenities
Bathroom - Tub Shower
Ceiling Fan(s)
Wood Floors
Kitchen - Table Space
Kitchen - Eat-In
Formal/Separate Dining Room
Floor Plan - Traditional
Family Room Off Kitchen
Entry Level Bedroom
Dining Area
Exterior Lighting
Sidewalks
Building Details
Building Size
1,780 SF
Year Built
1960
Units
1
Listing Agency:
RE/MAX Of Reading
(610) 670-2770
Listed By:
Samuel G Padovani · License #RS320171
(484) 955-9599
Source:
Allfirstrealty
Added: Oct 15
Changed: Nov 2
Last Checked: Nov 1 at 11:10PM
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 RE/MAX Of Reading
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,780-square-foot mixed-use property combines a ranch-style home with a separate commercial unit currently operating as a hair salon. The residence has three bedrooms, 2.5 bathrooms, a one-car garage, and hardwood flooring across the main floor. Its lower level includes laundry space, a second full bathroom, and a partially finished area.
Built in 1960, the property brings residential and commercial space together in one two-unit configuration. The salon is an existing business use, while the home provides a three-bedroom layout.
Built in 1960, the property brings residential and commercial space together in one two-unit configuration. The salon is an existing business use, while the home provides a three-bedroom layout.
Key Highlights
- 1,780‑square‑foot two‑unit property
- Separate commercial unit currently operating as a hair salon
- Ranch home with three bedrooms and 2.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,622
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,440
$352.4K
Cap Rate 7%
$251,743
$251.7K
Cap Rate 9%
$195,800
$195.8K
Market Conditions
NOI Build-Up for 1,780 SF
Gross rent
$32.0K $18.00/SF
− Vacancy
−$3.8K −$2.16/SF
EGI
$28.2K $15.84/SF
− OpEx
−$10.6K −$5.94/SF
NOI
$17.6K $9.90/SF
Area
Berks County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,440
Cap Rate 7%
$251,743
Cap Rate 9%
$195,800
Alternative Uses
Best Use
Mixed Use
$251.7K
$220.3K – $293.7K
NOI $17,622 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$292.2K
$255.7K – $340.9K
NOI $20,454 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 19605, PA
21,356
Population
8,100
Households
2.6
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
17.6 sq mi
ZIP Area
1,213
Density / Sq Mi
$85,775
Median Household Income
$45,578
Median Earnings
$1,310
Median Rent
$218,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ranch-style residence and a separate operating salon occupy a single property.
Where is this mixed-use property located?
The property is located at 1601 Elizabeth Avenue Reading, PA.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 1,780‑square‑foot two‑unit property; Separate commercial unit currently operating as a hair salon; Ranch home with three bedrooms and 2.5 bathrooms
