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340 Locust St
For Sale $355,000
$355,000
- 18 Units
- Unknown Sq Ft
- 6,098 Sq Ft
- Unknown Cap Rate
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
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $355,000 |
| Property Type | Special Purpose |
| Usable Sqft | Unknown |
| Number of Stories | 3 stories |
| Parking Spots | 0 spots |
| Year Built | 1890 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 09531770123216 |
| MLS # | PABK2060534 |
| Property ID | 319654059 |
| Lot Sqft | 6,098 |
| Zoning | R-3 |
| Total Units | 18 |
| Days on Market | 143 |
| Original List Price | Unknown |
| Date Updated | July 27, 2025 |
| Date Created | July 27, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Beau McGettigan an agent of . Lic #RS329721
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Data last updated: December 17, 2025.
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Robert Crawford
REAL ESTATE AGENT