Brick Quadplex with Garage
For Sale
$385,000
Pending
400 N 5TH STREET, Reading, PA 19601
Fully occupied multifamily property with spacious apartments, private utility responsibility, and a fenced rear yard.
Property Size3,385 SF
Days on Market154
Property Features for 400 N 5TH STREET
General Information
Standard status
Pending
Size
3,385 SF
Total Parking Spaces
2
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR, 1 x studio
Multifamily Units
4
Amenities
fenced rear side yard
Building Details
Building Size
3,385 SF
Year Built
1900
Buildings
1
Construction
brick
Listing Agency:
Pagoda Realty ERA Powered
(610) 985-7700
Listed By:
Jimmy Thelusca · License #RS333622
(610) 985-7700
Source:
Tylermillerteam.kw
Added: Apr 2
Changed: Aug 30
Last Checked: Sep 1 at 2:41PM
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 Pagoda Realty ERA Powered
Investment Insights
Based on property information with market context.
Built in 1900, this semi-detached brick multifamily property is fully occupied and includes spacious apartment layouts with kitchens, bathrooms, and living areas. The property is classified as a quadplex and includes a mix of three-bedroom, two-bedroom, one-bedroom, and studio apartments. Rear parking is provided through one garage and one carport, while a fenced side yard adds outdoor space.
Residents pay their own heat and electric expenses. Ownership covers water, sewer, and trash service. The property is located at 400 N 5TH STREET in Reading, Pennsylvania, within the 19601 ZIP code.
Residents pay their own heat and electric expenses. Ownership covers water, sewer, and trash service. The property is located at 400 N 5TH STREET in Reading, Pennsylvania, within the 19601 ZIP code.
Key Highlights
- Quadplex with one 3‑bedroom, one 2‑bedroom, one 1‑bedroom, and one studio apartment
- Fully occupied multifamily property
- Each apartment includes a kitchen, bathroom, and living room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,371
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,420
$667.4K
Cap Rate 7%
$476,729
$476.7K
Cap Rate 9%
$370,789
$370.8K
Market Conditions
NOI Build-Up for 3,385 SF
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.
Gross rent
$49.6K $14.64/SF
− Vacancy
−$1.9K −$0.56/SF
EGI
$47.7K $14.08/SF
− OpEx
−$14.3K −$4.23/SF
NOI
$33.4K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,420
Cap Rate 7%
$476,729
Cap Rate 9%
$370,789
Alternative Uses
Best Use
Multifamily LT 5
$476.7K
$417.1K – $556.2K
NOI $33,371 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$416.7K
$364.6K – $486.1K
NOI $29,168 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$555.7K
$486.2K – $648.3K
NOI $38,898 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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?
Quadplex - Fully occupied multifamily property with spacious apartments, private utility responsibility, and a fenced rear yard.
Where is this quadplex located?
The property is located at 400 N 5TH STREET Reading, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Quadplex with one 3‑bedroom, one 2‑bedroom, one 1‑bedroom, and one studio apartment; Fully occupied multifamily property; Each apartment includes a kitchen, bathroom, and living room
