$ 480,000
-
$480,000
Price -
0
Bed -
0
Bath -
7,710
SqFt
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About the Listing MTEHME1 - 3216526
NINE UNIT APARTMENT BUILDING WITH OFF-STREET PARKING LOT. This nine-unit multifamily property presents a strong opportunity for an investor seeking immediate rental income, substantial completed improvements and clear value-add potential. The building consists of seven one-bedroom apartments and two two-bedroom apartments, with five units currently occupied, including a long-term tenant in Unit 6. Most of the apartments have been fully renovated, while Units 7 and 8 are partially completed—already gutted and painted and primarily needing flooring, kitchens and bathrooms—allowing the next owner to finish the remaining work, lease the vacant units and significantly increase the property’s gross income. Approximately $70,000 has already been invested into the property, including extensive interior renovations, new water heaters throughout and a complete renovation of the common areas with new flooring, fresh paint, updated electrical outlets and refinished stairs. The building also offers separate electric meters and laundry rough-ins, creating additional operational and income potential. Also included in the sale is the private parking lot directly across the street, providing dedicated off-street parking for tenants and possible future development potential, subject to local approvals. With existing income, the majority of the renovations already completed, multiple vacant units positioned for completion and lease-up, and an additional parcel included, this property offers several ways for an investor to increase revenue and build long-term value.
Listing Highlights
Status
Active
Days on Site
33
Property Type
Commercial Sale
MLS ®
MDAL2015652
Year Built
1910
Total Square Footage
7,710
Lot/Acreage
0.09
County
Allegany
School District
Allegany County Public Schools
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Baseboard - Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Parking Spaces: 10
- Zoning: R-L
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $5,063
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
12 1/2 S Waverly Terrace Cumberland, MD 21502
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