417 Walnut Street, Reading, PA 19601 - Photo 1

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$420,000

For Sale
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Apartment

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Property Description

Positioned in the heart of Downtown Reading, this rare multi-building opportunity offers investors the potential to develop 12-14 apartment units in a rapidly evolving corridor. Previously utilized as a Drug Addiction Parole & Probation Treatment facility, the property features substantial square footage and a layout conducive to multifamily conversion. Ideal for developers seeking a high-upside repositioning project in a growing rental market. With strong rental demand in the area and continued downtown revitalization, this asset presents a strategic opportunity for long-term cash flow and appreciation. Bring your vision and unlock the full potential of this prime investment.

Full Property Details

Full Property Details for 417 Walnut St

General

Price: $420,000
Taxes: $8,712 (2025)
Status: Active
Type: Apartment
Source: BrightMLSPhilly
MLS ID: PABK2068316
Updated: 3/6/2026
Added to Site: 17 day(s) ago

Business

Business Type: Apartment Building

Rooms

Bathrooms

Restrooms: 13

Parking

Parking Type: None

Location

Area: Reading City (10201)
Municipality: READING CITY
County: BERKS
Cross Streets: 5Th Street
Driving Directions: Madison and Walnut

Heating & Cooling

Cooling Type: None
Heating Type: Steam
Heating Fuel: Natural Gas
Water Heater: Electric

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Construction: Brick Front
Building Size: 12151
Year Built: 1920
Year Built Source: Estimated

Unit Information

# Tenants: Multiple
Other Units: Unit 1, Unit 1, Unit 1, Unit 1, Unit 1

Lot Features

Lot Size (Acres): 0.12
Lot Size (Sq. Ft.): 5,227
Lot Size Source: Estimated
Zoning: R3

Financial Considerations

Price Per Sq. Ft.: $34.57
Assessment Year: 2025
School Tax: $3,466
County Tax: $1,742
County Tax Freq: Annually
Tax w/Assessment: $193,300
Tax Amount: $8,712
Tax Year: 2025

Disclosures and Reports

Ownership: Fee Simple
Lot Number: 5435

Listed by Light House Realtors, LLC, Jorge Diaz Jr.

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Listing agent

— 417 Walnut St —

Jorge Diaz Jr.

Light House Realtors, LLC

Listing Office Email: lighthouserealtylv@gmail.com

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Schools

Schools serving 417 Walnut St

School District:Reading School District

Name	Grades	Distance
Lauers Park El School 251 North 2nd Street, Reading, PA 19601	PK-4	0.2 mi
Southwest Ms 300 Chestnut Street, Reading, PA 19602	5-8	0.5 mi
Reading Senior High School 801 North 13th Street, Reading, PA 19604	9-12	1.1 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 417 Walnut St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

2/17/2026

Listed

$420,000

18.31%

MLS

5/05/2022

Sold

$355,000

—

Public Record

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 417 Walnut St

Year

Property Taxes

Change

Tax Assessment

Change

2025

$5,247

3%

$193,300

—

2024

$5,117

-39%

$193,300

—

2023

$8,450

—

$193,300

—

2022

$8,450

—

$193,300

—

2021

$8,450

—

$193,300

—

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

Estimate the Cost for 417 Walnut St

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417 Walnut Street, Reading, PA 19601 (MLS# PABK2068316) is a Apartment property. 417 Walnut Street is currently listed for $420,000 and was received on February 17, 2026. Want to learn more about 417 Walnut Street? Do you have questions about finding other Apartment real estate for sale in Reading? You can browse all Reading real estate or contact a Coldwell Banker agent to request more information.

417 Walnut St Reading, PA 19601