USAPAReadingNot in Development409 Walnut St

409 Walnut St, Reading, PA

Name: 409 Walnut St, For Sale in Reading - Zoocasa
Brand: The Real Estate Firm&PropMngmt
SKU: 779632
Price: 995000 USD

Condo

For Sale

Listed price in listed location currency (USD).

$995,000

000

MLS® 779632

Overview

Key Facts

Type Apartment

Levels Residential Income

Size 10350 sqft

Garage

Maintenance Fees

Taxes $3,356

Days Active 18

Approx. Age 1890

Avg. Price Per Sqft $96

MLS® Number 779632

Property Address: 409 Walnut St, Reading, PA, 19601-3905

Average square foot calculated using Size range provided by listing agent.

Description

Walnut St Commons | 409 Walnut St, Reading, PA Now Offered at $995, 000 Walnut St Commons presents an exceptional opportunity to acquire a stabilized 9-unit multifamily investment in the heart of Reading, Pennsylvania—now offered below the $1 million threshold, creating one of the most compelling value opportunities currently available in the market. With strong in-place cash flow, diversified unit mix, and continued rental upside, the property delivers the combination of immediate income and long-term appreciation sought by both seasoned investors and 1031 exchange buyers. At the new asking price of $995, 000, the asset offers an impressive 8.33% current capitalization rate, increasing to approximately 8.79% on pro forma operations through continued rent optimization. The building’s efficient operation also produces an estimated Debt Service Coverage Ratio (DSCR) of approximately 1.52, increasing to roughly 1.61 on pro forma income, providing strong lender appeal and financing flexibility. Using conventional investment financing assumptions, Walnut St Commons is projected to generate approximately a 10.2% current Cash-on-Cash Return, improving to nearly 11.9% as rents are brought to market levels—an exceptional return profile for a stabilized asset of this quality. The property consists of: * (3) Studio Apartments * (5) One-Bedroom Apartments * (1) Two-Bedroom Apartment Current average rents remain below market in several units, providing investors with a clear and achievable value-add strategy without significant renovation costs. Combined with historically strong occupancy and efficient operating expenses, Walnut St Commons represents a rare opportunity to acquire a cash-flowing multifamily asset with both stability and meaningful upside.

MLS® Number779632

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1890

Stories3

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatElectric

A/CNone

Extras

Map

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