409 WALNUT ST Reading, PA 19601
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision None Available
MLS Listing ID PABK2078342
Year Built 1890
Annual Tax Amount $2,689
Tax Year 2005
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions IRREGULAR
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
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
Location
State PA
County Berks
Area Reading City (10201)
Zoning COMM
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Inclusions Landlord owned appliances remain
Heat Source Natural Gas Available
Exterior
Water Access N
Accessibility 2+ Access Exits
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Reading
Others
Tax ID 07-5307-74-71-4427
Ownership Fee Simple
Security Features Surveillance Sys
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Nearby Locations
GET MORE INFORMATION