1. Pennsylvania
2. Reading
3. 340 LOCUST ST

340 LOCUST ST, Reading, PA 19604

Property Description

Excellent mixed-use investment opportunity at 340 Locust Street in Reading, PA, featuring 18 self-storage units, a well-maintained ±1,000 SF 3-bedroom house with a long-term tenant, and an adjacent vacant lot currently used for tenant parking. The site benefits from essential utilities including electric, water, and sewer, and offers an appealing blend of storage income and residential stability. Current income stands at $34,170 with a net operating income (NOI) of $25,591.67, producing a 7.2% CAP rate. With improved lease-up and rent optimization, pro forma projections show income of $49,500 and NOI of $42,436.40, yielding a 12% CAP rate. The property’s low overhead, dependable residential tenant, and multi-use potential make it an ideal option for both new and seasoned investors. This site is part of a larger portfolio of over 500 self-storage units currently offered for sale, providing additional scale and upside across all locations. Additional properties in the portfolio include: 826 Hampden – 17 units 824 Ritter – 13 units 511 Birch – 10 units 340 Locust – 18 units 333 Lombard – 34 units 1536 Haak – 36 units 625 N. 13th – 22 units 1128 Pike – 34 units 1200 N 9th Street – 66 units 306 N 13th Street – 1 unit 1541 Fairview – 8 units 635-R Weiser – 1 unit 521 S 16th Street – 10 units 328 Chestnut – 8 units 1214 Weimer – 10 units 741 Church – 12 units 330 Robeson - 1015 Rose – 96 units 364 Blair – 86 units

Listing Status:

Active

Date Added:

July 28, 2025 at 05:00AM

Listing Office:

KW Commercial : 2156641091

Listing Agent:

Beau McGettigan : 2153603540

MLS ID:

PABK2060534

Interior

• A/C: None
• Heating: RadiantNatural Gas
• Disability Feature: None

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Beau McGettigan, KW Commercial