409 Walnut St,READING, PA 19601
READING, PA 19601
Description
Now offered at $895,000, Walnut St Commons presents an exceptionalopportunity to acquire a stabilized 9-unit multifamily investment in theheart of Reading, Pennsylvania. Following a strategic price adjustment, theproperty now delivers one of the most compelling combinations of cashflow, operational efficiency, and value currently available in the market.With strong in-place income, a diversified unit mix, and continued rentalupside, Walnut St Commons is well positioned for seasoned investors,portfolio expansion, or a 1031 exchange.The property currently generates approximately $78,529 in Net OperatingIncome, producing an impressive 8.8% capitalization rate at the newasking price. Through continued rent optimization and natural leaseturnover, 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 stabilizedmultifamily investment opportunities currently available in the region.The building consists of three studio apartments, five one-bedroomapartments, and one two-bedroom apartment, providing diversified rentalincome and reducing reliance on any single unit type. Current averagerents remain below market in several apartments, offering investors a clearand achievable value-add opportunity without significant capitalimprovements. Combined with historically strong occupancy, efficientoperating expenses, and consistent cash flow, Walnut St Commons offersimmediate returns while preserving meaningful upside for futureownership.Whether you're seeking dependable passive income, expanding anexisting multifamily portfolio, or completing a 1031 exchange, Walnut StCommons delivers an attractive balance of stability, cash flow, andlong-term appreciation potential at a price point that is difficult to replicatein today's market
Details
| MLS # | PABK2078342 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1890 |
| Days On Site | 12 |
| Listing Provided By | The Real Estate Firm & Property Management | Frank J Renaldi |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 9 |
| Zoning | COMM |
| Acreage | 0.10 |
Interior
| Cooling | None |
|---|---|
| Heating Yes / No | Yes |
| Heating | Baseboard - Electric |
Exterior
| Security Features | Surveillance Sys |
|---|---|
| Construction Materials | Brick |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 2689 |
|---|
Area Information
| State | PA |
|---|---|
| County | BERKS PA |
| City | READING |
| Zip Code | 19601 |
| Area | Reading City (10201) |
| Community Name | NONE AVAILABLE |
| School District | READING |
| Listing VS Median (in NONE AVAILABLE) | |
Price: $895,000 low | high Med: $330,000 On site: 12 low | high Med: 52 | |
Market Activity 19601
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Learn More About This Property
| State | PA |
|---|---|
| County | BERKS PA |
| City | READING |
| Zip Code | 19601 |
| Area | Reading City (10201) |
| Community Name | NONE AVAILABLE |
| School District | READING |
| Listing VS Median (in NONE AVAILABLE) | |
Price: $895,000 low | high Med: $330,000 On site: 12 low | high Med: 52 | |
 | $850,000503 Penn StReading, PA 19601 |