409 Walnut Street, Reading, PA 19601

Reading
Local realty services provided by:Better Homes and Gardens Real Estate Cassidon Realty
409 Walnut Street,Reading City, PA 19601
$1,095,000
  • - 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:$1,095,000
  • Price per sq. ft.:$105.8

About this home

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...

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Home facts

  • Year built:1890
  • Listing ID #:779632
  • Added:4 day(s) ago
  • Updated:June 29, 2026 at 02:59 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:$1,095,000
  • Price per sq. ft.:$105.8
  • Tax amount:$3,356

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