Mixed-Use 5-Unit
For Sale
$470,000
835 WASHINGTON STREET, Reading, PA 19601
Five-unit property includes a street storefront, four residential units, and a multi-floor garage.
Property Size4,029 SF
Price / SF$116.65
Days on Market411
Property Features for 835 WASHINGTON STREET
General Information
Standard status
Active
Size
4,029 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,908
Amenities
3
Tile, Vinyl
Parking.
On Street.
0.00 x 0.00
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
Pagoda Realty ERA Powered
(610) 985-7700
Listed By:
Jimmy Thelusca · License #RS333622
(610) 927-7466
Source:
Xome
Added: Jul 21, 2025
Changed: Sep 1
Last Checked: Sep 4 at 3:11AM
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.
This mixed-use building offers five income-generating units, with one street-level storefront plus four residential units. The property also includes a multi-floor garage.
Located at 835 Washington Street in Reading, PA 19601, the storefront is described as benefiting from a high traffic count, and the central location is noted as supporting leasing for the residential units.
According to the current rental/lease income provided, the storefront unit is leased at $750 per month, with residential units at $750, $1,000, $1,000, and the garage at $400 per month. The seller also notes the building may be purchased individually or as part of a package deal with up to 19 total units; contact the listing agent for additional details and to schedule a walkthrough.
Located at 835 Washington Street in Reading, PA 19601, the storefront is described as benefiting from a high traffic count, and the central location is noted as supporting leasing for the residential units.
According to the current rental/lease income provided, the storefront unit is leased at $750 per month, with residential units at $750, $1,000, $1,000, and the garage at $400 per month. The seller also notes the building may be purchased individually or as part of a package deal with up to 19 total units; contact the listing agent for additional details and to schedule a walkthrough.
Key Highlights
- 5‑unit building with a street‑level storefront, four residential units, and a multi‑floor garage
- Current monthly rental/lease income per unit: $750, $750, $1,000, $1,000, $400 (garage/storefront included as listed)
- Street parking available; on‑street parking noted
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
$40,852
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
8.69%
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%
$817,040
$817.0K
Cap Rate 7%
$583,600
$583.6K
Cap Rate 9%
$453,911
$453.9K
Market Conditions
NOI Build-Up for 4,029 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
$60.9K $15.12/SF
− Vacancy
−$2.6K −$0.64/SF
EGI
$58.4K $14.48/SF
− OpEx
−$17.5K −$4.35/SF
NOI
$40.9K $10.14/SF
Area
Berks County, PA
Vacancy
4.20%
Lease Rate
$15.12 /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%
$817,040
Cap Rate 7%
$583,600
Cap Rate 9%
$453,911
Alternative Uses
Best Use
Retail
$583.6K
$510.7K – $680.9K
NOI $40,852 @ 7.0% cap · market cap 8.69%
Second Best
Multifamily LT 5
$567.4K
$496.5K – $662.0K
NOI $39,720 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$661.4K
$578.7K – $771.6K
NOI $46,298 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,663
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 - Five-unit property includes a street storefront, four residential units, and a multi-floor garage.
Where is this quadplex located?
The property is located at 835 WASHINGTON STREET Reading, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 5‑unit building with a street‑level storefront, four residential units, and a multi‑floor garage; Current monthly rental/lease income per unit: $750, $750, $1,000, $1,000, $400 (garage/storefront included as listed); Street parking available; on‑street parking noted
