409 Walnut StreetReading, PA 19601

Description

Now offered at $895,000, Walnut St Commons presents an exceptional opportunity to acquire a stabilized 9-unit multifamily investment in the heart of Reading, Pennsylvania. Following a strategic price adjustment, the property now delivers one of the most compelling combinations of cash flow, operational efficiency, and value currently available in the market. With strong in-place income, a diversified unit mix, and continued rental upside, Walnut St Commons is well positioned for seasoned investors, portfolio expansion, or a 1031 exchange. The property currently generates approximately $78,529 in Net Operating Income, producing an impressive 8.8% capitalization rate at the new asking price. Through continued rent optimization and natural lease turnover, projected Net Operating Income increases to approximately $87,454, resulting in an outstanding 9.77% pro forma capitalization rate. These performance metrics position the asset among the stronger stabilized multifamily investment opportunities currently available in the region. The building consists of three studio apartments, five one-bedroom apartments, and one two-bedroom apartment, providing diversified rental income and reducing reliance on any single unit type. Current average rents remain below market in several apartments, offering investors a clear and achievable value-add opportunity without significant capital improvements. Combined with historically strong occupancy, efficient operating expenses, and consistent cash flow, Walnut St Commons offers immediate returns while preserving meaningful upside for future ownership. Whether you're seeking dependable passive income, expanding an existing multifamily portfolio, or completing a 1031 exchange, Walnut St Commons delivers an attractive balance of stability, cash flow, and long-term appreciation potential at a price point that is difficult to replicate in today's market

Property Information

Property type

Commercial Sale

Year built

1890

Stories

3

Building area

10,350 Sq Ft

Lot size

0.10 acres

Lot dimensions

IRREGULAR

Zoning

COMM

Days on market

1

MLS^® Listing#

PABK2078342

Property Features

Appliances

Electric Water Heater

Cooling

None · Electric

Heating

Natural Gas · Baseboard

Parking

On Street

Construction

Brick

Utilities

Natural Gas Available

Sewer

Public Sewer

Water source

Public

Schools

District

READING

Financial Details

Annual taxes

$2,689Tax year 2005

Assessed value

$72,700

Parcel number

07-5307-74-71-4427

Directions

1. Take US-422 toward Reading. 2. Exit at Penn Street / Downtown Reading 3. east on Penn Street for approx 0.5 miles. 4. Turn left onto 5th Street. 5. Turn right onto Walnut Street. 6. 409 Walnut Street will be on your right.