5-Unit Apartment
New
For Sale
$445,000
846 Bingaman St, Reading, PA 19602
All apartments are occupied, with professional management and staggered lease expirations.
Property Size2,610 SF
Price / SF$170.50
Days on Market5
Property Features for 846 Bingaman St
General Information
Standard status
Active
Size
2,610 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Additional Details
Gross Income
$51,600
Building Details
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Bold Realty
Listed By:
Trent L Stauffer · License #RM422216
(717) 821-0336
Source:
Findahomewithus
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 16 at 9:13AM
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 Bold Realty
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Investment Insights
Based on property information with market context.
This three-story apartment property in Reading contains five one-bedroom, one-bathroom units and was built in 1900. Three apartments have been renovated with shaker-style cabinetry, dark countertops, black appliances, built-in microwaves, wood-look plank flooring, tiled bathrooms, and in-unit stackable washers and dryers. One renovated apartment also has a ductless mini-split system.
The building is professionally managed, and lease expirations are staggered through 2027. All five units are tenant occupied.
The building is professionally managed, and lease expirations are staggered through 2027. All five units are tenant occupied.
Key Highlights
- Five apartments, each with one bedroom and one bathroom
- Three‑story building constructed in 1900
- Three renovated units include stackable in‑unit washers and dryers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,490
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,800
$449.8K
Cap Rate 7%
$321,286
$321.3K
Cap Rate 9%
$249,889
$249.9K
Market Conditions
NOI Build-Up for 2,610 SF
Gross rent
$42.6K $16.32/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$40.9K $15.67/SF
− OpEx
−$18.4K −$7.05/SF
NOI
$22.5K $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%
$449,800
Cap Rate 7%
$321,286
Cap Rate 9%
$249,889
Alternative Uses
Best Use
Apartment 5plus
$321.3K
$281.1K – $374.8K
NOI $22,490 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,992 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,377
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
Frequently Asked Questions
What type of property is this?
Apartment building - All apartments are occupied, with professional management and staggered lease expirations.
Where is this apartment building located?
The property is located at 846 Bingaman St Reading, PA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Five apartments, each with one bedroom and one bathroom; Three‑story building constructed in 1900; Three renovated units include stackable in‑unit washers and dryers
