340 Locust Street Reading, PA 19604 Municipality: Reading City

Other Residence

Beds

Baths

... Bed/Bath

3,400 Sq. Ft.

Property Activity

Time on Site

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Last updated on 12/22/2025 7:52 PM

Listing Details

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 ele...ctric, 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 Continue reading

MLS#

PABK2060534

Property Type

Other

Year Built

1890

Square Feet

3,400 sq. ft

Price per Sq. Ft.

$104.41

Lot Size

0.14