6
See all 6 photos
$700,000
Est. payment /mo
5,124 SqFt
Under Contract
136-138 E FRANKLIN ST Hagerstown, MD 21740
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UPDATED:
12/02/2024 11:05 AM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Under Contract
Purchase Type For Sale
Square Footage 5,124 sqft
Price per Sqft $136
MLS Listing ID MDWA2025590
Originating Board BRIGHT
Year Built 1894
Annual Tax Amount $4,055
Tax Year 2021
Lot Size 9,840 Sqft
Acres 0.23
Property Description
Prime investment opportunity! Currently generating over $7,000 in monthly rental income with potential for further increases to market rates, this all-brick, fully-occupied multi-family property in downtown Hagerstown offers an exceptional addition to any portfolio. Featuring six spacious units, approximately 835 sq ft each, the building is fully equipped with separate electric meters, placing utility responsibility on tenants and streamlining management. Solid structural integrity is ensured with a brick and masonry foundation, complemented by new replacement windows that enhance energy efficiency. Each floor is thoughtfully laid out with two large units, providing tenants with ample living space and privacy.
Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors’ review. Located at the gateway to Hagerstown’s vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don’t miss the opportunity to acquire a robust, low-maintenance property in a prime location.
AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area
Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors’ review. Located at the gateway to Hagerstown’s vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don’t miss the opportunity to acquire a robust, low-maintenance property in a prime location.
AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area
Location
State MD
County Washington
Zoning CCMU
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Heat Source Electric
Exterior
Garage Spaces 6.0
Water Access N
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Washington County Public Schools
Others
Tax ID 2222015702
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Roberto G. Gonzalez • RG Realty, Inc.