Residential Income Property with
622 North 3rd Street Reading, PA 19601
For Sale
$466,000
Pending
Residential income property with three fully rented units and 13 rented garages generating approximately $4,680 monthly gross income.
Property Size3,748 SF
Days on Market30
Property Features for 622 North 3rd Street
General Information
- Standard status
- Pending
- Size
- 3,748 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing Agency:
Coldwell Banker Realty
(484) 345-1752
Listed By:
Aida Sanchez · License #RS353694
(484) 345-1752
Source:
Compass
Added: Jun 25
Changed: Jul 22
Last Checked: Jul 23 at 8:40AM
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 residential income property is configured with three fully rented residential units plus 13 rented garages, creating multiple rental revenue streams. The current gross rental income is approximately $4,680 per month, supported by fully occupied residential and garage components.
Located in Berks County in Reading, PA, the property is described as conveniently positioned near local amenities, major routes, and employment centers.
For buyers seeking an income-producing portfolio addition, this offering combines residential units and garage rentals in a single property. The Listing Agent also identifies the school district as READING.
Located in Berks County in Reading, PA, the property is described as conveniently positioned near local amenities, major routes, and employment centers.
For buyers seeking an income-producing portfolio addition, this offering combines residential units and garage rentals in a single property. The Listing Agent also identifies the school district as READING.
Key Highlights
- Residential income property with 3 fully rented residential units and 13 rented garages
- Approximately $4,680 per month in gross rental income (per listing)
- Year built: 1900
Financial Insights For Multifamily LT 5
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 | $54.9k | $14.64 |
| − Vacancy | −$2.1k | −$0.56 |
| EGI | $52.8k | $14.08 |
| − OpEx | −$15.8k | −$4.23 |
| NOI | $36.9k | $9.86 |
3,748 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$527.9K
$461.9K – $615.8K
NOI $36,950 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$461.4K
$403.7K – $538.3K
NOI $32,296 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$615.3K
$538.4K – $717.8K
NOI $43,069 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Residential income property with three fully rented units and 13 rented garages generating approximately $4,680 monthly gross income.
Where is this triplex located?
The property is located at 622 North 3rd Street Reading, PA.
What is the asking price?
The asking price for this property is $466,000.
What are key features of this property?
This property features: Residential income property with 3 fully rented residential units and 13 rented garages; Approximately $4,680 per month in gross rental income (per listing); Year built: 1900
