I’m pleased to highlight that this property represents a turn-key investment, presently generating a monthly income of $11,000. Discover the potential in this captivating 12-apartment complex, ideally positioned just a block from the verdant City Park in Hagerstown and near the highly anticipated, cutting-edge multi-purpose sports center stadium currently underway. This collection of 12 appealing one-bedroom, one-bath units presents a perfect fusion of comfort and cost-effectiveness, designed to maintain a high tenant retention rate.
In addition, the property offers an effortlessly manageable ownership experience. The existing rental organization oversees all maintenance, repairs, and property management tasks. The sole responsibility for the new owner is the manageable utility costs, which are impressively below $600/month, covering water, sewer, trash, gas, and electricity.
More than just a building, this property stands as a ready-to-go investment, perfectly poised for growth and offering unmatched convenience in the thriving community of Hagerstown.
Key Features:
– Prime Location: A stone’s throw from crucial services and amenities, ensuring a convenient and desirable lifestyle for residents.
– Parking Provisions for Tenants: The availability of three garages and four carports offers ample parking, significantly enhancing tenant satisfaction.
– Recent Enhancements at 224-226 Summit Ave:
– Upgraded Hygiene Facilities: Installation of brand new toilets in each unit for improved sanitation.
– Optimized Climate Control: Introduction of new mini split systems in every unit, offering efficient temperature regulation.
– Basement Improvements: Strategic waterproofing and the addition of commercial dehumidifiers to ensure a dry and pleasant basement environment.
– Safety Upgrades: Restoration and code compliance of the rear deck/fire escape for utmost safety.
– System Overhauls: A thorough revamp of the building’s plumbing and electrical frameworks.
– Maintenance and Cleanliness: Comprehensive cleaning of the garage, basement, and communal areas.
– Community Enhancements: The communal room now features a new washer and dryer, adding convenience for all tenants.
| Price: | $1,100,000 |
| Address: | 224 Summit Avenue |
| City: | Hagerstown |
| County: | Washington |
| State: | Maryland |
| Zip Code: | 21740 |
| MLS: | MDWA2019876 |
| Year Built: | 1900 |
| Square Feet: | 6,144 |
| Acres: | 0.140 |
| Lot Square Feet: | 0.140 acres |
