426 N Locust Street

12 of 13 Units Occupied | 13 Apartments | Recent Renovations | Portfolio Purchase Option

This 13-unit apartment building at 424–426 N Locust Street offers an established rental investment near downtown Hagerstown, Maryland. The November 9, 2026 management rent roll reports 12 occupied apartments and one vacant apartment (Unit 6), for 92.31% occupancy. The asking price is $1,235,000, or $95,000 per unit.

Buyers can purchase the building individually or as part of a larger Hagerstown-area multifamily portfolio from the same ownership group. This flexibility allows investors to choose the scale of their acquisition.

13-Unit Apartment Building Highlights

• Thirteen apartments; the management rent roll lists twelve one-bedroom units and one unit with bedroom count unspecified, each with one bathroom
• Building area: 8,637 square feet per tax records
• Brick building with 12 occupied units and one vacant unit as of November 9, 2026
• Additional storage space available
• Major interior renovations in most units
• Asking price: $1,235,000

Renovations and Property Condition

Ownership replaced the roof approximately one year before the current offering. Most apartments have also received major interior renovations and show well. These improvements help limit immediate renovation needs for the next owner.

The units are registered as lead-free or lead-safe with the Maryland Department of the Environment. In addition, the property has completed required city inspections.

Current Rent Roll and Operating Information

The management rent roll dated November 9, 2026 reports 13 total units, 12 occupied and one vacant (Unit 6), representing 92.31% occupancy.

• Scheduled monthly rent: $10,470 across the occupied units.
• Annualized scheduled rent: $125,640, calculated as the current monthly schedule multiplied by 12.
• Asking price per unit: $95,000 at the $1,235,000 asking price.

Scheduled rent is not a statement of cash collected, guaranteed income, or net operating income. The vacant unit contributes no rent to these figures. Actual collections and operating costs must be reviewed separately.

Historical operating statements cover January through June 2026 and predate this rent roll. A current net operating income and capitalization rate are not quoted pending reconciliation of collections and complete expenses, including property taxes, insurance, and management. One legacy unit has a lower scheduled rent; any future increase remains subject to the lease and applicable requirements.

Location Near Downtown Hagerstown

The building sits in an established residential corridor near downtown Hagerstown. The region offers access to Interstate 81 and Interstate 70, with connections to Baltimore, Washington, D.C., and Philadelphia.

Healthcare, logistics, distribution, and financial services support the local economy. Meritus Health is among the region’s healthcare employers. The property also offers access to the regional highway network and Meritus Medical Center.

Request Investment Details

Contact Roberto Gonzalez to learn more about this 13-unit apartment building. Request the current rent roll and operating statements, review the vacancy and expense assumptions, and discuss showing availability or the broader portfolio purchase option.

© 2026 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of RG Realty, Inc.. Data last updated on Wednesday, November 11th, 2026 03:13:48 AM.