SOLD $775,000 - MultiFamily
1 E Water Street, – Realty and Roberto Gonzalez are pleased to present the opportunity to acquire a well maintained multifamily portfolio located in a desirable area is a rare opportunity for all qualified investors to purchase three contiguous and neighboring properties consisting of 13 units with the unit mix consisting of 11 one bedroom one baths apartments, and two single family homes, and seven fully leased garages. 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. 1 E Water Street properties are situated in a friendly community with an award-winning school system on the center town of Smithsburg, just minutes from interstate 70 and 81. For more information call Roberto Gonzalez at 301-991-0207 or email Roberto@RgRealtyInc.com
Smithsburg, MD was founded in 1813 by Christopher “Stuffle” Smith. Mr. Smith purchased a plot of land formerly known as “part of Shadrack’s Lot.” The community’s development was directly influenced by factors such as migration paths, the arrival of the railroad, and advances in agricultural technology. By 1923, much of the existing village had been erected. Smithsburg was incorporated in 1846.
Smithsburg acted as a hospital town during the American Civil War in 1862, treating wounded soldiers from nearby battles at South Mountain and Antietam. On July 5, 1863, Confederate General James Stuart and Union General Kilpatrick exchanged artillery fire over Smithsburg. A cannon ball from this exchange can be found lodged in the wall of a building on Water Street. Kilpatrick continued the advance to Boonsboro, Maryland after the engagement on July 6. area.
According to the United States Census Bureau, the town has a total area of 1.06 square miles (2.75 km2), of which 1.05 square miles (2.72 km2) is land and 0.01 square miles (0.03 km2) is water. The only body of water that is within the limits of Smithsburg is the now inactive Smithsburg reservoir.
Smithsburg is characterized by rolling hills and open space. The town is well known for its farming community, including apple orchards and dairy farms.
- # of Units: 13