Traditional Multifamily
For Sale
$221,900
Pending
229 UPLAND AVENUE, Reading, PA 19611
Built in 1910 with window units, ceiling fans, oil radiant heat, and an electric water heater.
Property Size1,382 SF
Days on Market11
Property Features for 229 UPLAND AVENUE
General Information
Standard status
Pending
Size
1,382 SF
Property subtype
Residential Income
Amenities
Ceiling Fan(s), Window Unit(s), Electric
Oil, Radiant
Full
Electric Water Heater
Traditional
Building Details
Building Size
1,382 SF
Year Built
1910
Listing Agency:
Coldwell Banker Realty
(484) 650-6749
Listed By:
Joe Colon · License #RS343304
(484) 650-6749
Source:
Evrealestate
Added: Jul 22
Changed: Jul 31
Last Checked: Jul 31 at 8:54AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This multifamily property at 229 Upland Avenue in Reading, Pennsylvania, was built in 1910 and features a traditional exterior. Interior systems and features include ceiling fans, window units, oil radiant heat, and an electric water heater. The property is located in Berks County.
Key Highlights
- Multifamily property at 229 UPLAND AVENUE, READING, PA 19611
- Built in 1910
- Traditional exterior
Financial Insights For Apartment 5plus
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 | $22.6k | $16.32 |
| − Vacancy | −$902 | −$0.65 |
| EGI | $21.7k | $15.67 |
| − OpEx | −$9.7k | −$7.05 |
| NOI | $11.9k | $8.62 |
1,382 SF · lease $16.32/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$170.1K
$148.9K – $198.5K
NOI $11,909 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$226.9K
$198.5K – $264.7K
NOI $15,881 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 19611, PA
11,238
Population
4,555
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
2.0 sq mi
ZIP Area
5,619
Density / Sq Mi
$56,379
Median Household Income
$40,791
Median Earnings
$1,098
Median Rent
$161,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1910 with window units, ceiling fans, oil radiant heat, and an electric water heater.
Where is this multifamily property located?
The property is located at 229 UPLAND AVENUE Reading, PA.
What is the asking price?
The asking price for this property is $221,900.
What are key features of this property?
This property features: Multifamily property at 229 UPLAND AVENUE, READING, PA 19611; Built in 1910; Traditional exterior
