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About the Listing REFIRM1 - 3400683
Now offered at $895,000, Walnut St Commons presents an exceptional opportunity to acquire a stabilized 9-unit multifamily investment in the heart of Reading, Pennsylvania. Following a strategic price adjustment, the property now delivers one of the most compelling combinations of cash flow, operational efficiency, and value currently available in the market. With strong in-place income, a diversified unit mix, and continued rental upside, Walnut St Commons is well positioned for seasoned investors, portfolio expansion, or a 1031 exchange. The property currently generates approximately $78,529 in Net Operating Income, producing an impressive 8.8% capitalization rate at the new asking price. Through continued rent optimization and natural lease turnover, 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 stabilized multifamily investment opportunities currently available in the region. The building consists of three studio apartments, five one-bedroom apartments, and one two-bedroom apartment, providing diversified rental income and reducing reliance on any single unit type. Current average rents remain below market in several apartments, offering investors a clear and achievable value-add opportunity without significant capital improvements. Combined with historically strong occupancy, efficient operating expenses, and consistent cash flow, Walnut St Commons offers immediate returns while preserving meaningful upside for future ownership. Whether you're seeking dependable passive income, expanding an existing multifamily portfolio, or completing a 1031 exchange, Walnut St Commons delivers an attractive balance of stability, cash flow, and long-term appreciation potential at a price point that is difficult to replicate in today's market
Listing Highlights
Status
Active
Days on Site
3
Property Type
Commercial Sale
MLS ®
PABK2078342
Year Built
1890
Total Square Footage
10,350
Lot/Acreage
0.1
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Baseboard - Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: IRREGULAR
- Zoning: COMM
- Roof:
- Others: Good
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $2,689
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2005
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
409 Walnut St Reading, PA 19601
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