Five-Unit Apartment
For Sale
$470,000
1027 Walnut St, Reading, PA 19601
Residential income property with five apartments on Walnut Street in Reading.
Property Size4,920 SF
Price / SF$95.53
Days on Market57
Property Features for 1027 Walnut St
General Information
Standard status
Active
Size
4,920 SF
Additional Details
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
Pagoda Realty ERA Powered
Listed By:
Jimmy Thelusca · License #RS333622
(862) 352-7532
Source:
Southjerseyshorehomesfinder
Added: Aug 23
Changed: Oct 4
Last Checked: Oct 7 at 12:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pagoda Realty ERA Powered
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Investment Insights
Based on property information with market context.
This apartment property contains five residential units and was constructed in 1900. The asset is located at 1027 Walnut St in Reading, Pennsylvania, with a total property size of 4,920 as provided. The units may be acquired individually or included in a package offering of up to 19 total units.
Key Highlights
- Five residential units
- Built in 1900
- Located at 1027 Walnut St, Reading, PA 19601
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,395
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$847,900
$847.9K
Cap Rate 7%
$605,643
$605.6K
Cap Rate 9%
$471,056
$471.1K
Market Conditions
NOI Build-Up for 4,920 SF
Gross rent
$80.3K $16.32/SF
− Vacancy
−$3.2K −$0.65/SF
EGI
$77.1K $15.67/SF
− OpEx
−$34.7K −$7.05/SF
NOI
$42.4K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$847,900
Cap Rate 7%
$605,643
Cap Rate 9%
$471,056
Alternative Uses
Best Use
Apartment 5plus
$605.6K
$529.9K – $706.6K
NOI $42,395 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.7K
$706.7K – $942.3K
NOI $56,537 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residential income property with five apartments on Walnut Street in Reading.
Where is this apartment building located?
The property is located at 1027 Walnut St Reading, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Five residential units; Built in 1900; Located at 1027 Walnut St, Reading, PA 19601
