409 Walnut Street, Reading, PA 19601
Local realty services provided by:CENTURY 21 Keim Realtors
409 Walnut Street,Reading City, PA 19601
$995,000
- - Beds
- - Baths
- 10,350 sq. ft.
- Multi-family
- Active
Listed by: frank j. renaldi, jr.
Office: the real estate firm&propmngmt
MLS#:779632
Source:PA_LVAR
Price summary
- Price:$995,000
- Price per sq. ft.:$96.14
About this home
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....
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Home facts
- Year built:1890
- Subdivision & Development:Not in Development
- Listing ID #:779632
- Added:54 day(s) ago
- Updated:August 18, 2026 at 03:19 PM
Rooms and interior
- Living area:10,350 sq. ft.
Heating and cooling
- Heating:Electric
Structure and exterior
- Year built:1890
- Building area:10,350 sq. ft.
- Lot area:0.1 Acres
- Construction Materials:Brick
- Levels:3 or More Stories
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$995,000
- Price per sq. ft.:$96.14
- Tax amount:$3,356
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