CLEAR TITLE, Buyer Lost Lender, Clear To Close!! WE NEED A CLOSER | 10 Units Fully Rented | Prospect and Potomac St. 21740 | Price $490K OBO For Sale

  • $490,000
  • Package of two 5 unit buildings, and one has a warehouse in the back for rental or garage that is not being utilized.
  • The owner’s expenses are taxes (roughly $9k), insurance and water+trash ($800-$900 every 3 months).
  • Currently, the owner is managing it himself which is a zero cost.
  • Tenants pay all other utilities.
  • Rents are under market and could probably increase $50-$75 a month each unit if some minor upgrades are done.
  • Some units do not need any improvements but would be great if added.
  • Details on rent: Tenants are mixed between month to month and yearly leases.
  • $82,740 Total Gross = 17% Cap Rate
  • Package deal at $490k OBO

• 138 S Prospect St. Hagerstown, MD 21740 •

House Size: 5,040 sq ft
Lot Size: 18,285 sq ft
5 units all rented
4 x 2 bedrooms, 1 bath
basement 1 bedroom, 1 bath
3 x $800 = $2400
1 x $695
1 x $625
Current cash flow: $3,720 monthly
Taxes: $4,293
Price: $265k

• 655 S Potomac St. Hagerstown, MD 21740 •

Huge warehouse in the back of 655 with 2 floors, 2 bathrooms & a shower!
Used to be a beer warehouse
Currently, it has electricity but no heat.
Can be used to add more units, storage, the list is endless
House Size: 10,243 sq ft
Lot Size: 12,000 sq ft
5 units all rented, 1 getting evicted
3/F – 2 bedroom, 1 bath
2/F – 1 large, 1 small bedroom, 1 bath
1/F – 1 large, 1 small bedroom, 1 bath
$38,100 gross annually
Fair condition
Taxes: $4,886
Price: $265k

 

Price:
$490,000
Address:
138 S Prospect St. and 655 S Potomac St.
Hagerstown, MD 21740
Terms:
For Sale
Property Type:
Multi-family

Property Location