Excellent value-add opportunity with 17 self-storage units in Reading, PA. This low-maintenance property offers a diverse unit mix, including (2) 10x10 units, (1) 9x13 unit, (11) 9x17 units, and (1) 12x60 unit with power.
Current net operating income is $8,073.18, with a pro forma NOI of $24,663.00. Current CAP rate is 5.8%, with a projected pro forma CAP of 18%.
This property is part of a larger portfolio of over 500 self-storage units/parking/commercial units currently offered for sale and presents significant upside for an operator focused on lease-up and efficient management. With minimal maintenance and low overhead, the site is well-positioned for increased revenue. The powered oversized unit offers unique appeal to contractors or commercial tenants and should lease quickly.
Ideal for investors seeking steady income with meaningful growth potential.
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