NOT LISTED FOR SALE

400 Spring St Reading, PA 19601

Studio
-- Bath
4,108 Sq Ft
1,742 Sq Ft Lot

Last Sold May 31, 2023

Last sale price $360,000 $88 Per Sq Ft

12 Days on Market

Highlights

  • 24-Hour Security
  • Private Lot
  • Multiple Balconies
  • City View
  • Traditional Architecture
  • 4-minute walk to Centre Park

About This Home

As of May 2023

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!

Last Agent to Sell the Property

Merlin Weaver

(610) 822-3356 kenenochs@compass.com Compass RE Listed on: 04/19/2023

Compass RE

Last Buyer's Agent

datacorrect BrightMLS

(844) 552-7444 datacorrect@brightmls.com Non Subscribing Office License #0225194075

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,282

Year Built

  • Built in 1900

Lot Details

  • 1,742 Sq Ft Lot
  • Private Lot
  • Corner Lot
  • Property is in very good condition

Parking

  • 1 Car Attached Garage
  • Side Facing Garage
  • Unassigned Parking

Home Design

  • Quadruplex
  • Traditional Architecture
  • Brick Exterior Construction
  • Permanent Foundation
  • Stone Foundation
  • Poured Concrete
  • Architectural Shingle Roof

Interior Spaces

  • City Views
  • Electric Oven or Range

Partially Finished Basement

  • Heated Basement
  • Walk-Out Basement
  • Interior and Side Basement Entry
  • Basement Windows

Home Security

  • Exterior Cameras
  • Surveillance System
  • Fire Escape

Outdoor Features

  • Multiple Balconies
  • Exterior Lighting
  • Rain Gutters

Utilities

  • Radiator
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater

Listing and Financial Details

  • The owner pays for gas, sewer, trash collection, water, real estate taxes
  • Tax Lot 3645
  • Assessor Parcel Number 14-5307-50-75-3645

Community Details

Overview

  • 4 Units
  • 4-Story Building

Building Details

  • Income includes apartment rentals
  • Insurance Expense $2,400
  • Operating Expense $9,500
  • Net Operating Income $36,300

Security

  • 24-Hour Security

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,282

Year Built

Built in 1900

Lot Details

0

Parking

1

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: End Of Row/Townhouse
  • Architectural Style: Traditional
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1900
  • Automatically Close On Close Date: No
  • Special Features: None
  • Stories: 0

Interior Features

  • Appliances: Oven/Range - Electric, Refrigerator
  • Fireplace: No
  • Foundation Details: Stone, Permanent
  • Basement: Yes
  • Basement Type: Daylight, Partial, Heated, Improved, Outside Entrance, Partially Finished, Poured Concrete, Side Entrance, Walkout Level, Windows, Interior Access
  • Total Sq Ft: 4108
  • Living Area Sq Ft: 4108
  • Price Per Sq Ft: 105.32
  • Above Grade Finished Sq Ft: 3608
  • Below Grade Finished Sq Ft: 500
  • Total Below Grade Sq Ft: 500
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Exterior Features: Exterior Lighting, Fire Escape, Gutter System, Sidewalks, Street Lights
  • Road Surface Type: Black Top
  • Roof: Architectural Shingle
  • View: City
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 1.00
  • Garage: Yes
  • Parking Features: Unassigned
  • Garage Features: Garage - Side Entry
  • Attached Garage Spaces: 1
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Attached Garage

Utilities

  • Central Air Conditioning: No
  • Gas Avg Month: 183.33
  • Gas Prev12 Months: 2200.00
  • Heating Fuel: Natural Gas
  • Heating Type: Radiator
  • Heating: Yes
  • Hot Water: Natural Gas
  • Security: Surveillance Sys, Exterior Cameras, 24 Hour Security
  • Sewer/Septic System: Public Sewer
  • Water Previous Twelve Months: 480.00
  • Water Source: Public

Schools

  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 34200.00
  • Land Assessed Value: 18000.00
  • Lot Features: Corner, Private
  • Lot Size Acres: 0.04
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1742.00
  • Outdoor Living Structures: Balconies- Multiple, Roof
  • Property Condition: Very Good
  • Zoning: RES

Rental Info

  • Existing Lease Type: Month To Month
  • Number Of Units Month To Month: 4
  • Owner Pays: Gas, Sewer, Trash Collection, Water, Taxes - Real Estate
  • Rent Control: No
  • Total Actual Rent: 42300.00
  • Units Leased Count: 5
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 1453845
  • School Tax: 936.00
  • Tax Annual Amount: 2282.00
  • Assessor Parcel Number: 14-5307-50-75-3645
  • Tax Lot: 3645
  • County Tax Payment Frequency: Annually
  • Tax Year: 2022

Multi Family

  • Gross Income: 42780.00
  • Income Includes: Apartment Rentals
  • Operating Expense: 9500.00
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3

MLS Schools

  • School District Name: READING
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Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2023 05/31/23 Sold $360,000 0.0% $88 / Sq Ft
05/01/2023 05/01/23 Pending -- -- --
05/01/2023 05/01/23 Off Market $360,000 -- --
04/19/2023 04/19/23 For Sale $380,000 -- $93 / Sq Ft
Source: Bright MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,409 $125,600 $18,000 $107,600
2024 $5,577 $125,600 $18,000 $107,600
2023 $2,282 $52,200 $18,000 $34,200
2022 $2,282 $52,200 $18,000 $34,200
2021 $2,282 $52,200 $18,000 $34,200
2020 $2,259 $52,200 $18,000 $34,200
2019 $2,259 $52,200 $18,000 $34,200
2018 $2,259 $52,200 $18,000 $34,200
2017 $2,244 $52,200 $18,000 $34,200
2016 $1,282 $52,200 $18,000 $34,200
2015 $1,282 $52,200 $18,000 $34,200
2014 $1,180 $52,200 $18,000 $34,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: PABK2029008

Bright MLS