USAPAReadingNot in Development409 Walnut St
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New
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$1,095,000

For Sale

A day ago

409 Walnut St, Reading, PA

Condo

MLS® 779632

0 Bed

0 Bath

10350 sqft

0

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size 10350 sqft
Garage 
HOA Fees 
Taxes $3,356
Days Active 1
Approx. Age 1890
Avg. Price Per Sqft $105
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 Walnut St Commons presents a stabilized 9-unit multifamily investment in the heart of Reading, PA, offering strong in-place cash flow with additional upside through rent optimization. This property has a diversified unit mix and consistent tenant demand. This asset generates a current NOI of $82, 864 with a 7.57% cap rate, and offers a clear path to a pro forma NOI of $87, 454 (7.99% cap rate) through modest rent increases to market levels. The unit mix consists of (3) studios, (5) one-bedroom units, and (1) two-bedroom unit, with an average rent of approximately $1, 046/unit, leaving room for continued growth as units turn. Operational efficiency is a key highlight, with expenses at just ~27% of EGI, supporting strong cash flow and a 1.39+ DSCR, making this an attractive option for both conventional and DSCR financing. Investors will benefit from steady rental demand in a dense, renter-populated area, along with favorable long-term fundamentals, including projected rent growth and improving cash flow over time. Projections indicate increasing returns, with cash-on-cash returns exceeding 10% in the near term and continued growth thereafter. Investment highlights 7.57% Cap Rate (Current) 7.99% Cap Rate (Pro Forma) 8.45% Cash on Cash (Current) 10.13% Cash on Cash (Pro Forma) 9 unit multifamily property Fee Simple ownership Value add opportunity with below market rents Strong demographics in Reading, PA Laundry income projected - Units were just installed
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

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 25, 2026List Date
$1,095,000List Price
  • Commute

Commute

Starting Address
Destination Address
409 Walnut St, Reading, PA

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