Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Six-Unit Multifamily Investment Opportunity Title is generated by Realmo AI

    1601 MINERAL SPRING Road, Reading, PA 19602

    View on Map
    Claim this Listing
    For Sale
    $595,000

    MULTI_FAMILY - Colonial - READING, PA

    Property size:
    6,775 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $87/SF
    Added:
    Apr 10, 2026
    Days on Market:
    47
    Last Refresh:
    May 26 at 7:06 pm

    Property Features for 1601 MINERAL SPRING Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    Size
    6,775 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2770

    Utilities

    Heating system
    Hot Water(Heating)

    Building Details

    Year built
    1910
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Colonial

    We can help!

    Listing Contact
    John H Gantkowski Jr.
    John H Gantkowski Jr.

    Listing agent John H Gantkowski Jr. License #rs299403

    Listing office Iron Valley Real Estate of Berks 50 Berkshire Court unit: 200, Wyomissing, PA

    Listing date Apr 10, 2026

    MLS# PABK2070500 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong cash flow and long‑term upside potential as a six‑unit investment property.
    • Dedicated off‑street parking lot with space for approximately twelve vehicles.
    • Tenants responsible for heat, electric, and hot water, minimizing owner expenses.
    • Newer roof, updated mechanical systems, and efficient gas furnaces for lower maintenance costs.
    • Located in a high‑demand rental area.
    • Multiple updates already completed, offering a stabilized asset with additional value‑add potential.

    Overview

    This six-unit investment opportunity is located in the Hessian Camp section of Reading. The property features six two-bedroom, one-bath units. Multiple updates have already been completed. The offering includes 1601 Mineral Spring Road, 1603 Mineral Spring Road, and 1601 Rear Mineral Spring Road, which functions as a dedicated off-street parking lot with space for approximately twelve vehicles. Ample parking supports tenant retention. Tenants are responsible for heat, electric, and hot water, which minimizes operating expenses. Owner expenses are limited to water, sewer, and trash. The property features a newer roof, updated mechanical systems, and efficient gas furnaces, contributing to lower maintenance costs. Located in a high-demand rental area, this is a turnkey investment with immediate income potential. The property size is 6,775 square feet, situated on a 0.12-acre lot. This property offers a strategic addition to any investment portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Trizzy Trillz Artist

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.90607
    Latitude
    40.3319

    Nearby Similar for Sale

    • $375,000

      Renovated Office Building in Reading

      Well-maintained, renovated office building in Reading's Revitalization Zone.
      540 COURT ST, READING, PA 19601
      View Details
    • $879,900

      Iconic Restaurant & Event Venue

      Berks County landmark with restaurant, bar, and event venue.
      2619 HILL Road, READING, PA 19606
      View Details
    • $279,900
      1,680 SF

      Turn-Key Investment in Exeter School

      Fully leased duplex in Exeter School District with immediate cash flow.
      197 OLD FRIEDENSBURG Road, READING, PA 19606
      View Details
    • $650,000

      Mixed-Use Property with Expansion Potential

      Well-maintained mixed-use property with commercial storefront and residential units.
      226 N 10TH Street, READING, PA 19601
      View Details
    • $200,000
      2,158 SF

      Reading, PA - Income Property

      Two-unit income property in Reading, PA, generating consistent cash flow.
      418 SCHUYLKILL Avenue, READING, PA 19601
      View Details
    • $300,000

      Commercial Property on Perkiomen Avenue

      Well-located commercial property with high visibility and easy access.
      1265 Perkiomen Ave, Reading, PA 19602
      View Details
    • $74,900

      Established Pizza/Sandwich Shop Business

      Profitable pizza/sandwich shop with delivery sales and growth potential.
      3201 Pottsville Pike, Muhlenberg Twp, PA 19605
      View Details
    • $975,000

      Reading Office/Mixed-Use Creative Space

      Appointed office/mixed-use/creative space with ample fenced parking.
      715 Clinton St, Reading, PA 19601
      View Details
    • $975,000
      13,000 SF

      Two-Story Building with Main Street Frontage

      13,000 SF building with flexible floor plan for sale.
      700 Lancaster Ave, Reading, PA 19607
      View Details
    • $460,000
      2,946 SF

      Reading Multifamily Investment Opportunity

      Five-unit property near park, offering strong investment potential.
      357 S 3RD Street, READING, PA 19602
      View Details
    • $365,000
      4,210 SF

      Historic Victorian Multifamily Residence

      Spacious Victorian with rental income potential in historic district.
      226 S 5TH Street, READING, PA 19602
      View Details
    • Contact for pricing
      64,000 SF

      Reading Commercial Property Investment Opportunity

      Two buildings with 80% occupancy in Reading, PA.
      2101 Centre Ave, Reading, PA 19605
      View Details

    FAQs

    What type of property is this?
    Apartment building - Strong cash flow potential in Reading, PA.
    Where is this apartment building located?
    The property is located at 1601 MINERAL SPRING Road Reading, PA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Strong cash flow and long‑term upside potential as a six‑unit investment property.; Dedicated off‑street parking lot with space for approximately twelve vehicles.; Tenants responsible for heat, electric, and hot water, minimizing owner expenses.
    (610) 780-3024
    We can help!
    Listing Contact
    John H Gantkowski Jr.
    John H Gantkowski Jr.
    Real Estate License ID: rs299403
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1601 MINERAL SPRING Road, READING, PA 19602
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!