$ 799,000
-
$799,000
Price -
0
Bed -
0
Bath -
8,093
SqFt
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About the Listing RGRE1 - 124248
Presenting a distinctive seven-unit residential investment property located at 345 N Potomac Street in Hagerstown. The offering includes a substantial historic brick building containing six apartments, together with a separate two-bedroom cottage located at 3 W North Avenue. The main building offers approximately 8,093 square feet and sits on a prominent 19,090 square foot corner parcel with strong street presence, paved parking, garage and storage space. The six-unit building consists of one two-bedroom apartment, four one-bedroom apartments, and one three-bedroom apartment. Five of the six units are currently occupied, producing approximately $6,025 per month in existing rental income. The current market rent indicated for the main building is approximately $7,125 per month, providing immediate upside through the lease up of the vacant one-bedroom unit and continued professional management. The separate cottage contains two bedrooms and one bathroom and is presently vacant. Its indicated market rent is approximately $1,750 per month, creating another meaningful opportunity for a purchaser to increase income shortly after acquisition. Based on the current rent roll, the property generates approximately $72,300 in annual in place rent, with total projected market rent of approximately $106,500 annually once the vacant apartment and cottage are leased. The combination of existing income, two available units, varied apartment sizes, off street parking, garage and storage areas, and a recognizable historic brick exterior makes this a strong value add opportunity for an investor seeking scale in the Hagerstown rental market.
Listing Highlights
Status
Active
Days on Site
16
Property Type
Commercial Sale
MLS ®
MDWA2038736
Year Built
1940
Total Square Footage
8,093
Lot/Acreage
0.44
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Steam
- 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
- Zoning: RO
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $5,218
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
345 N Potomac St Hagerstown, MD 21740
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