9-Unit Apartment
New
For Sale
$695,000
343 S 6TH STREET, Reading, PA 19602
The residential income property includes a mix of studio, one-bedroom, and two-bedroom apartments.
Property Size4,000 SF
Price / SF$173.75
Days on Market4
Property Features for 343 S 6TH STREET
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Units
Unit Mix
5 x 2BR, 3 x 1BR, 1 x studio
Multifamily Units
9
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1900
Listing Agency:
RE/MAX Of Reading
(610) 670-2770
Listed By:
Collier Golden · License #RS320941
(610) 914-4581
Source:
Cummingsrealtors
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 25 at 2:32AM
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
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Investment Insights
Based on property information with market context.
This 9-unit apartment building contains five two-bedroom apartments, three one-bedroom apartments, and one studio. The property totals 4,000 square feet and was built in 1900.
Located at 343 S 6th Street in Reading, Pennsylvania, the building occupies a corner lot. Several long-term residents have expressed interest in remaining, offering continuity in the existing tenancy.
Located at 343 S 6th Street in Reading, Pennsylvania, the building occupies a corner lot. Several long-term residents have expressed interest in remaining, offering continuity in the existing tenancy.
Key Highlights
- Nine apartments across three layouts: five 2‑bedroom units, three 1‑bedroom units, and one studio
- 4,000 square feet of building area
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,468
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,360
$689.4K
Cap Rate 7%
$492,400
$492.4K
Cap Rate 9%
$382,978
$383.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$65.3K $16.32/SF
− Vacancy
−$2.6K −$0.65/SF
EGI
$62.7K $15.67/SF
− OpEx
−$28.2K −$7.05/SF
NOI
$34.5K $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 Rate 5%
$689,360
Cap Rate 7%
$492,400
Cap Rate 9%
$382,978
Alternative Uses
Best Use
Apartment 5plus
$492.4K
$430.9K – $574.5K
NOI $34,468 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$656.6K
$574.6K – $766.1K
NOI $45,965 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
2,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The residential income property includes a mix of studio, one-bedroom, and two-bedroom apartments.
Where is this apartment building located?
The property is located at 343 S 6TH STREET Reading, PA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Nine apartments across three layouts: five 2‑bedroom units, three 1‑bedroom units, and one studio; 4,000 square feet of building area; Built in 1900
