$ 525,000
41 E FRANKLIN ST Hagerstown, MD 21740
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$ 525,000
Est. payment /mo
Active
41 E FRANKLIN ST Hagerstown, MD 21740
4,265 SqFt
UPDATED:
10/08/2024 05:34 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,265 sqft
Price per Sqft $123
Subdivision Downtown Hagerstown
MLS Listing ID MDWA2024786
Originating Board BRIGHT
Year Built 1895
Annual Tax Amount $3,456
Tax Year 2024
Lot Size 2,473 Sqft
Acres 0.06
Property Description
Price to Sell! 7.5% CAP Rate | Newly Renovated and Ready for Occupancy
Welcome to 41 E Franklin St, a fully renovated 5-unit apartment building located in the heart of Hagerstown, MD! This property has undergone a complete transformation and is now ready to generate solid returns for its next owner. With recent renovations and upgrades throughout, it's move-in ready for tenants and offers excellent cash flow potential with a projected gross income of $5,200 per month.
Property Highlights:
Newly Renovated: All five units have been meticulously updated with modern finishes, ensuring long-term tenant satisfaction and minimal maintenance for the new owner, including:
*Granite Countertops: Each unit boasts beautiful new granite countertops, adding a touch of luxury to the kitchen spaces and plenty of counter space.
*New Appliances: New appliances have been installed in each unit, providing modern conveniences and energy efficiency.
*New Cabinets: The kitchens have been outfitted with new cabinetry, offering ample storage and a fresh, updated look.
*Updated plumbing and electrical: The property features two newly installed water heaters, 5 new overflow tanks for all water heaters, ensuring consistent hot water supply across all units with minimal future maintenance. New shower diverters, new radiator valves, the electrical has been updated where needed, including new fixtures with energy-efficient lighting installed throughout the property, including all units and common areas. New electrical lines on exterior of building where needed.
*Freshly Painted: Both the interiors of the units and common areas have been freshly painted, along with exterior painting, giving the entire building a clean, inviting appearance brought to its original charm.
*Deck Improvements: Outdoor deck spaces have been upgraded, providing tenants with functional and appealing outdoor areas.
Turnkey Investment:
Current owners have started lease-up and can deliver the property fully occupied. With recent renovations complete, you will have minimal maintenance expenses anticipated.
Code Compliant:
This property is fully up to code, ensuring peace of mind for the new owner, including new Rental Licenses and Lead Certificates: Lead certificates.
Financials:
Projected Gross Income is $5,200 per month, making this property a solid income generator from day one. Priced to sell quickly at a 7.5% CAP rate, this property offers a great return on investment in the growing Hagerstown market.
This is a fantastic opportunity to own a fully renovated, income-producing asset in an emerging area. With all the hard work already done—new finishes, updated systems, and compliance ensured—41 E Franklin is primed for immediate occupancy and cash flow.
Don’t miss out—this property won’t last long at this CAP rate and level of renovation! Contact us today for more information or to schedule a private showing.
Welcome to 41 E Franklin St, a fully renovated 5-unit apartment building located in the heart of Hagerstown, MD! This property has undergone a complete transformation and is now ready to generate solid returns for its next owner. With recent renovations and upgrades throughout, it's move-in ready for tenants and offers excellent cash flow potential with a projected gross income of $5,200 per month.
Property Highlights:
Newly Renovated: All five units have been meticulously updated with modern finishes, ensuring long-term tenant satisfaction and minimal maintenance for the new owner, including:
*Granite Countertops: Each unit boasts beautiful new granite countertops, adding a touch of luxury to the kitchen spaces and plenty of counter space.
*New Appliances: New appliances have been installed in each unit, providing modern conveniences and energy efficiency.
*New Cabinets: The kitchens have been outfitted with new cabinetry, offering ample storage and a fresh, updated look.
*Updated plumbing and electrical: The property features two newly installed water heaters, 5 new overflow tanks for all water heaters, ensuring consistent hot water supply across all units with minimal future maintenance. New shower diverters, new radiator valves, the electrical has been updated where needed, including new fixtures with energy-efficient lighting installed throughout the property, including all units and common areas. New electrical lines on exterior of building where needed.
*Freshly Painted: Both the interiors of the units and common areas have been freshly painted, along with exterior painting, giving the entire building a clean, inviting appearance brought to its original charm.
*Deck Improvements: Outdoor deck spaces have been upgraded, providing tenants with functional and appealing outdoor areas.
Turnkey Investment:
Current owners have started lease-up and can deliver the property fully occupied. With recent renovations complete, you will have minimal maintenance expenses anticipated.
Code Compliant:
This property is fully up to code, ensuring peace of mind for the new owner, including new Rental Licenses and Lead Certificates: Lead certificates.
Financials:
Projected Gross Income is $5,200 per month, making this property a solid income generator from day one. Priced to sell quickly at a 7.5% CAP rate, this property offers a great return on investment in the growing Hagerstown market.
This is a fantastic opportunity to own a fully renovated, income-producing asset in an emerging area. With all the hard work already done—new finishes, updated systems, and compliance ensured—41 E Franklin is primed for immediate occupancy and cash flow.
Don’t miss out—this property won’t last long at this CAP rate and level of renovation! Contact us today for more information or to schedule a private showing.
Location
State MD
County Washington
Zoning CCMU
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 5.0
Waterfront N
Water Access N
Accessibility None
Parking Type On Street, Parking Lot
Total Parking Spaces 5
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Washington County Public Schools
Others
Tax ID 2222006134
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Stephen S Owens • RG Realty, Inc.