Historically high occupancy and immediate value-add, apartments are rented at below-market rents, leaving room for a new owner to capitalize on market demand for apartments.
Broadway 38 Unit Portfolio Sale -The subject properties are comprised by older, two-three story, good quality, apartment buildings located mid-town of Hagerstown in a quiet suburban neighborhood, and within the Potomac/Broadway Historic District. Its immediate location is along the southwest comer of Broadway and N. Locust Street, and within Election District 22. The neighborhood can be defined by Interstate 81 to the west, Memorial Boulevard to the south, Eastern Boulevard to the east & the Northern Avenue to the north. The subject properties area is a mixed-use neighborhood with various residential uses (multi-family) interspersed with commercial uses throughout the neighborhood. There is demand for these types of properties with local/out of town, investors continuing to buy/renovate these properties. The buildings are currently in great condition and well kept. This investment portfolio complies with the standard requirements with the city of Hagerstown’s office of code compliance and lead paint laws enforced by the Maryland Department of the Environment (MDE) all lead inspections and certificates are up to date.
