Mixed-Use Property with
For Sale
$450,000
409 S 4TH STREET, Reading, PA 19602
Four apartments are paired with a two-story garage occupied by a roofing business.
Property Size1,700 SF
Price / SF$264.71
Days on Market8
Property Features for 409 S 4TH STREET
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Commercial
Units
Unit Mix
2 x efficiency, 1 x 1BR, 1 x 2BR
Multifamily Units
4
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: Sep 29
Changed: Oct 4
Last Checked: Oct 5 at 6:49PM
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
Investment Insights
Based on property information with market context.
Built in 1900, this 1,700-square-foot mixed-use property contains four apartments: two efficiencies, a one-bedroom unit, and a two-bedroom unit. A two-story garage leased to a roofing business adds a commercial component. One efficiency is vacant; the owner pays all utilities.
Improvements include a high-efficiency heating system installed approximately two years ago, a rubber roof installed approximately four years ago, an updated garage roof, and a new hot water heater.
Improvements include a high-efficiency heating system installed approximately two years ago, a rubber roof installed approximately four years ago, an updated garage roof, and a new hot water heater.
Key Highlights
- Four apartments: two efficiencies, one one‑bedroom, and one two‑bedroom unit
- Two‑story garage leased to a roofing business
- 1,700 square feet; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,830
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,600
$336.6K
Cap Rate 7%
$240,429
$240.4K
Cap Rate 9%
$187,000
$187.0K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$30.6K $18.00/SF
− Vacancy
−$3.7K −$2.16/SF
EGI
$26.9K $15.84/SF
− OpEx
−$10.1K −$5.94/SF
NOI
$16.8K $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%
$336,600
Cap Rate 7%
$240,429
Cap Rate 9%
$187,000
Alternative Uses
Best Use
Mixed Use
$240.4K
$210.4K – $280.5K
NOI $16,830 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$209.3K
$183.1K – $244.2K
NOI $14,649 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$279.1K
$244.2K – $325.6K
NOI $19,535 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,925
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments are paired with a two-story garage occupied by a roofing business.
Where is this mixed-use property located?
The property is located at 409 S 4TH STREET Reading, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four apartments: two efficiencies, one one‑bedroom, and one two‑bedroom unit; Two‑story garage leased to a roofing business; 1,700 square feet; built in 1900
