409 Walnut ST Reading City, PA 19601
10,350 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,350 sqft
Price per Sqft $86
Subdivision Not In Development
MLS Listing ID 779632
HOA Y/N No
Year Built 1890
Annual Tax Amount $3,356
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Apartment
Property Description
The property currently generates approximately $82,864 in Net Operating Income, producing an impressive 9.26% 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.
Location
State PA
County Berks
Area Reading
Direction 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.
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Water Access Desc Public
Building
Story 3
Sewer Public Sewer
Water Public
Schools
School District Reading
Others
Senior Community No
Tax ID 07-5307-74-71-4427
Special Listing Condition None
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