409 Walnut St
Reading, PA 19601
7 Beds
9 Baths
10,350 sqft
7 Beds
9 Baths
10,350 sqft
Local Information
- Map ViewExplore the area around 409 Walnut St.
- Schools2 Elementary Schools1 Middle School1 High School
- Shop & Eat
-- mins to
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
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
Home Highlights
Parking
No Info
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$106
Listed
Less than a day ago
Home Details for 409 Walnut St
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Beds & Baths Number of Bedrooms: 7Number of Bathrooms: 9 |
Dimensions and Layout Living Area: 10350 Square Feet |
Heating & Cooling Heating: ElectricNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Electric |
Levels, Entrance, & Accessibility Stories: 3Number of Stories: 3 |
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Frontage Not on Waterfront |
Water & Sewer Sewer: Public Sewer |
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Cumulative Days on Market: 1Days on Market: <1 day on Trulia |
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Year Built Year Built: 1890 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family, Apartment |
Building Construction Materials: Brick |
Property Information Parcel Number: 07530774714427 |
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Price List Price: $1,095,000Price Per Sqft: $106 |
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MLS Status: Active |
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Direction & Address City: Reading CityCommunity: Not in Development |
School Information Elementary School District: ReadingJr High / Middle School District: ReadingHigh School District: Reading |
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Listing Agent Listing ID: 779632 |
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Not Senior Community |
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Association for this Listing: Lehigh Valley MLS |
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Lot Area: 4356 sqft |
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Special Conditions: None |
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Mls Number: 779632Living Area Range Units: Square FeetAbove Grade Unfinished Area Units: Square FeetBelow Grade Unfinished Area Units: Square FeetUniversal Property Id: US-42011-N-07530774714427-R-N |
Last check for updates: about 3 hours ago
Listing courtesy of Frank J. Renaldi, Jr., (484) 788-8682
The Real Estate Firm&PropMngmt, (484) 542-6568
Originating MLS: Lehigh Valley MLS
Source: GLVR, MLS#779632
Also Listed on GLVR.
Market trends in West Reading
Last updated May 2026
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
6
2MoM
Price History for 409 Walnut St
| Date | Price | Event | Source |
|---|---|---|---|
| 06/25/2026 | $1,095,000 | Listed For Sale | GLVR #779632 |
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Comparable Sales for 409 Walnut St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.16 | Multi-Family Home | $300,000 | 05/29/26 | 4 | 2 | 1,836 | |
0.56 | Multi-Family Home | $450,000 | 09/26/25 | 5 | 4 | 5,100 | |
0.17 | Multi-Family Home | $340,000 | 10/22/25 | 2 | - | - | |
1.06 | Multi-Family Home | $200,000 | 05/22/26 | 5 | 4 | 3,422 | |
0.74 | Multi-Family Home | $252,500 | 05/22/26 | 6 | 2 | 2,456 | |
0.78 | Multi-Family Home | $302,900 | 09/15/25 | 5 | 3 | 2,350 | |
0.25 | Multi-Family Home | $550,000 | 08/25/25 | 2 | - | - | |
0.71 | Multi-Family Home | $256,275 | 01/08/26 | 4 | 2 | 2,200 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.
SOLDNOV 21, 2025BHHS Homesale Realty- Reading Berks
SOLDJAN 28, 2026Coldwell Banker Realty
OFF MARKETKeller Williams Platinum Realty - Wyomissing
SOLDMAR 27, 2026Realty One Group Alliance
OFF MARKETCommonwealth Real Estate LLC
SOLDFEB 16, 2026RE/MAX Of Reading
Assigned Schools
These are the assigned schools for 409 Walnut St.
- West Reading El Center
- 5-6
- Public
- 310 Students
9/10GreatSchools RatingParent Rating AverageWyomissing Area School District leadership is more focused on administrative convenience, strict adherence to rigid processes and rubrics, and covering for incompetent colleagues, than they are on meeting the individual needs of students. If you have a gifted student, I would choose a different school district. People in the district aren't even pleasant to deal with in general. When we were considering moving here we were taken aback by the fact that they would not even allow us a tour. When we asked how we're we supposed to decide if we liked the school enough to move here we were told "Read our reviews". Well, here is a review. There were one or two teachers we really liked in West Reading Elementary Center, but overall it was not a good experience.Parent Review11mo ago - Wyomissing Hills El Center
- K-4
- Public
- 615 Students
9/10GreatSchools RatingParent Rating AverageMy son is in 3rd grade currently and has been at this school since kindergarten.Every teacher he has had is kind, hard working in terms of teaching the kids a lot, and involved with me.There is regular contact with the classdojo app if my son ever had any issues or something needed to be brought to my attention. My son had an issue 2x with a bully (2 different kids and different years) and the assistant principal handled both incidents very well. Bullying is not tolerated at all and they escalate everything immediately. The basics are the food is good, the school is clean, there are often extra curricular things.Overall this has been a great school to my son and I would recommend it to anyone.Parent Review4y ago - Wyomissing Area Junior-Senior High School
- 7-12
- Public
- 965 Students
7/10GreatSchools RatingParent Rating AverageAWFUL if you can move to Wilson do it! Wyomissing is not what they tell you they are. They teach to the test which why they rank high.Parent Review8y ago 
Check out schools near 409 Walnut St.
What Locals Say about West Reading
At least 62 Trulia users voted on each feature.
91 % Say there are sidewalks
87 % Say it's dog friendly
82 % Say yards are well-kept
81 % Say it's walkable to restaurants
79 % Say streets are well-lit
78 % Say kids play outside
76 % Say car is needed
72 % Say there's holiday spirit
72 % Say people would walk alone at night
65 % Say parking is easy
60 % Say there are community events
60 % Say they plan to stay for at least 5 years
58 % Say there's wildlife
51 % Say neighbors are friendly
49 % Say it's quiet
28 % Say it's walkable to grocery stores
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Frank J. Renaldi, Jr., The Real Estate Firm&PropMngmt, (484) 542-6568
Agent Phone: (484) 788-8682
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
409 Walnut St, Reading, PA 19601 is a 7 bedroom, 9 bathroom, 10,350 sqft multi-family built in 1890. This property is currently available for sale and was listed by GLVR on Jun 25, 2026. The MLS # for this home is MLS# 779632.