Last Sold Price
6 beds4 baths4,108 sqft$88/sqft
400 Spring St, Reading, PA 19601

Description

Fully rented 4 unit ready for a new owner. First and second floors units are both 1 bedroom apartments but could both be used as two bedrooms. Third floor is a 2 bedroom unit. Garage is currently rented by second floor tenant. Tenants pay electric. One High Efficiency Gas Boiler heat building and domestic hot water. Great income producer!Fully rented 4 unit ready for a new owner. First and second floors units are both 1 bedroom apartments but could both be used as two bedrooms. Third floor is a 2 bedroom unit. Garage is currently rented by second floor tenant. Tenants pay electric. One High Efficiency Gas Boiler heat building and domestic hot water. Great income producer!
LISTING CLOSED: 05/31/2023 12:00 AM

Listing Agent

  1. Merlin Weaver

    Merlin Weaver

    Listing Agent

    Compass Pennsylvania, LLC

    P: (484) 650-5307

Property Details for 400 Spring Street

Status
MLS #
PABK2029008
Days on Market
13
Taxes
$2,282 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi-Family / Fee Simple
Year Built
1900
Lot Size
0.04 AC / 1,742 SF
Tax ID Number
14-5307-50-75-3645
Ownership
Fee Simple
Structure Type
End of Row/Townhouse
Style
Traditional
Waterfront
No
Views
City
Garage
Yes
Cross Street
N 4th Street
Municipality
READING CITY
Total Parking Spaces
1
Central Air
No
Basement
Yes
Above Grade Finished SQFT
3,608.00
Above Grade Fin SQFT Source
Estimated
Below Grade Finished SQFT
500.00
Below Grade Fin SQFT Source
Estimated
Below Grade Unfinished SQFT
.00
Below Grade Unfin SQFT Source
Assessor
Total Below Grade SQFT
500.00
Total Below Grade SQFT Source
Estimated
New Construction
No
Property Condition
Very Good
Garage SQFT
150

Location

Add your commute

Building Information for 400 Spring Street

Stories-Residences4Year Built1900Building Size-Lot Size0.04 AC / 1,742 SF

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30 year fixed, 6.55% Interest

Principal and Interest

$1,830

Property Taxes

$190

HOA Dues

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Property Information for 400 Spring Street

Location
Location
  • Transportation: Bus Stop less than 1 mile
  • School District Name: READING
  • School District County ID: 300200397169
  • SchoolDistrictSource: Listing Agent
  • County: BERKS
  • MLS Area: Reading City (10201)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2022
  • Tax Assessed Value: $52,200
  • Year Assessed: 2023
  • County Tax: $400
  • Improvement Assessed Value: $34,200
  • City Town Tax: $946
  • Land Assessed Value: $18,000
  • Clean Green Assessed: No
  • Land Use Code: 4200
  • Zoning: RES
  • Tax Lot: 3645
  • School Tax: $936
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Gas, Sewer, Trash Collection, Water, Taxes - Real Estate
  • Concessions: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 3
  • Two Bedroom Units Count: 1
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3
  • Units Leased Count: 5
  • Number Of Units Vacant: 0
  • Vacancy Allowance Rate: .00%
  • Number Of Units Month To Month: 4
  • Rent Control: No
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Level: 0
  • Unit Type Lease Type: Month to Month
  • Beds Total: 1
  • Full Baths Count: 1
  • Unit Type Features: Below first floor but street-level entrance - was a business prior to legal conversion.
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Lease Type: Month to Month
  • Beds Total: 2
  • Full Baths Count: 1
  • Unit Type Features: One bedroom currently used as work area for making art crafts but is a private room
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Level: 2
  • Unit Type Lease Type: Month to Month
  • Beds Total: 1
  • Full Baths Count: 1
  • Unit Type Features: Rent of 940 includes Garage. Tenant also does snow removal. Very large one bedroom but could be changed to 2 bedrooms.
Unit 4
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Level: 3
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 5
  • Type: Unit 5
  • Unit Type Occupied YN: Yes
  • Level: 1
  • Unit Type Lease Type: Gross
  • Beds Total: 0
  • Half Baths Count: 0
  • Full Baths Count: 0
  • Unit Type Features: Garage - rented by tenant on second floor
  • Total Rooms: 1
Financial Information
Expenses
  • Operating Expense: $9,500
  • Operating Expense Includes: Insurance, Trash
  • Insurance Expense: $2,400
  • Water Avg Month: $40
  • Water Prev 12 Months: $480
  • Gas Avg Month: $183
  • Gas Prev 12 Months: $2,200
Financial Information
  • Gross Income: $42,780
  • Net Operating Income: $36,300
  • Annual Rental Income: $42,300
  • Income Includes: Apartment Rentals
  • Cap Rate: 8.76
  • Existing Lease Type: Month to Month
Building Info
Building Info
  • Building Level Count: 4
  • Building Units Total: 4
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 0.00 x 0.00
  • Lot Dimensions Source: Assessor
  • Lot Features: Corner, Private
  • Road Surface Type: Black Top
  • Road Responsibility: City/County
  • Location Type: Corner Lot/Unit
  • Parcel ID: 1453845
Parking
Parking
  • Type Of Parking: Attached Garage
  • Num of Attached Garage Spaces: 1
  • Total Garage Spaces: 1
  • Parking Features: Unassigned
  • Garage Features: Garage - Side Entry
Interior Features
Interior Features
  • Fireplace: No
  • Fireplaces Count: 0
  • Appliances: Oven/Range - Electric, Refrigerator
  • Accessibility Features: None
  • Security Features: Surveillance Sys, Exterior Cameras, 24 hour security
Exterior Features
Exterior Features
  • Exterior Features: Exterior Lighting, Fire Escape, Gutter System, Sidewalks, Street Lights
  • Outdoor Living Structures: Balconies- Multiple, Roof
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Radiator
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Reading-Berks Association of REALTORS

Property History for 400 Spring Street

DateEvent & SourcePriceAppreciation
May 31, 2023

Closed (Public Record)

Public Record #1512342198

$360,000

+6.5% / yr

May 31, 2023

Closed

BRIGHT #PABK2029008

$360,000
May 2, 2023

Pending

BRIGHT #PABK2029008

DateEvent & SourcePrice
05/31/2023

Closed (Public Record)

Public Record #1512342198

$360,000

+6.5% / yr

05/31/2023

Closed

BRIGHT #PABK2029008

$360,000
05/02/2023

Pending

BRIGHT #PABK2029008

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 400 Spring Street

Taxable ValueLand$18,000Additions$107,600Total$125,600
Tax Record2026$3,546 ($295 / month)
Home Facts
Total Finished SqFt3,608 SqFtAbove Grade Finished SqFt3,608 SqFtStories3Lot Size1,742 SqFtStyleMulti-Family Res (5+ Units)Year Built1900CountyBERKSAPN14530750753645

Schools near 400 Spring Street

This home is within Reading School District.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - 5 to 8
Public - 9 to 12
Private - 1 to 12
Rating
School
Distance
Riverside El School
PublicPK to 4

Northwest Middle School
Public5 to 8

Reading Senior High School
Public9 to 12

Chor Day Academy
Private1 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.