NOT LISTED FOR SALE

400 Spring St Reading, PA 19601

-- Bed
-- 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

(484) 650-5307 merlin@merlinweaverrealtor.com Compass RE Listed on: 04/19/2023

Compass RE

Last Buyer's Agent

datacorrect BrightMLS

datacorrect@brightmls.com Non Subscribing Office

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
  • 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
  • Remarks Public: 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!
  • 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
  • Street Number Modifier: 400

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
  • Monthly Water Average: 40
  • Water Previous Twelve Months: 480.00
  • Water Source: Public

Schools

  • School District: READING
  • School District Key: 300200397169
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 34200.00
  • Land Assessed Value: 18000.00
  • Land Use Code: 4200
  • 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
  • Year Assessed: 2023
  • 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
  • Close Date: 05/31/2023

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

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: PABK2029008

Bright MLS
Pennsylvania Berks County Reading 19601

400 Spring St, Reading, PA

This home is located at 400 Spring St, Reading, PA 19601 since 19 April 2023. This property was built in 1900. 400 Spring St is a home located in Berks County with nearby schools including Riverside Elementary School, Northwest Middle School, and Reading Senior High School.

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