225 Jonathan St, Hagerstown, MD 21740

225 Jonathan St, Hagerstown, MD 21740
225-229 Jonathan St, Hagerstown, MD, USA
SOLD $1,200,000 - Apartment Building, MultiFamily
MDWA2018852 12 # Units 0 Bathroom 1983 Year Built

Exclusive Opportunity 12-Unit, 1-Bedroom Brick Apartment Complex with Separate Metering, Lead-Free, and Close to Future Multi-Use Stadium

Capture this unparalleled off-market investment in downtown Hagerstown. This 12-unit brick apartment complex, featuring 6 units per side, is not only fully renovated but also rent-ready. Each unit is separately metered, including a common area meter for the owner, electric baseboard heat, and individual hot water heaters. The property is lead-paint-free and offers cutting-edge amenities and security features. A smooth transition is guaranteed for the new owner of this fully modernized, turnkey investment.

24/7 City-Monitored Security: Equipped with a cutting-edge security system that is actively monitored by the Hagerstown Police Department, ensuring round-the-clock safety.

Private, Secure Parking: A commercial-grade chain-link fence encloses the private parking lot, featuring an automated, solar-powered remote-access gate.

Up-to-Code Amenities: The property boasts a brand-new rear deck/fire escape that is fully compliant with city ordinances, along with new windows and waterproofed basements.

Interior Excellence: The interior features commercial-grade LVP flooring, new kitchen cabinets, countertops, and appliances, as well as updated bathroom vanities, toilets, and fixtures.

Additional Perks: The common areas have been revamped with commercial carpeting and coin-operated washers and dryers, managed by a third-party company. The owner retains 50% of the profits without any maintenance or overhead costs.

Code Compliance: All renovations meet City and Section 8 rental inspection standards, including upgraded deadbolts and a Smart Key system for the entire building.

Proximity to New Developments: Situated just three blocks from the new multi-use sports center stadium slated for completion in 2024, and around the corner from a new brewery.

Impressive ROI: The property has proven peak market rents, achieving rental income exceeding $1,000 per month for each 1-bedroom, 1-bathroom unit.

With over $250,000 invested in renovations, this property offers a unique opportunity for investors to acquire a fully renovated, code-compliant multifamily building in a prime location. Don’t miss out on this exceptional investment opportunity.

Hagerstown, MD, is seeing a boom in development, making it ripe for investment. Key projects include:

1. Currwood Logistics Park: A 195-acre site expected to create 1,500 jobs.

Importance of Investing in Hagerstown:

1. Strategic Location: Proximity to major highways makes it ideal for logistics and distribution centers.

2. Job Growth: The new developments are expected to create thousands of jobs, increasing demand for housing and services.

3. Diverse Economy: With growth in healthcare, education, logistics, and industrial sectors, the economy is becoming more resilient.

4. Real Estate Value: The surge in development projects is likely to increase property values, offering a good ROI for investors.

In summary, Hagerstown is becoming a hotspot for job creation and economic development across multiple sectors. Investing now could yield significant returns as the area continues to grow and diversify.

2. Amazon Fulfillment Center: Enhancing Hagerstown’s role as a logistics hub.

3. Chewy Distribution Center: Adding hundreds of jobs in logistics.

4. Meritus Developments: Expanding healthcare facilities and educational opportunities.

5. New School and Hospital Projects: Creating construction and long-term jobs.

6. Other Developments: Boosting the real estate market and job creation.

These projects are diversifying the economy and driving up property values, making Hagerstown an attractive investment option.

Property on Map
WalkScore

Agent Roberto Gonzalez

Roberto Gonzalez

Roberto Gonzalez Roberto Gonzalez a native of Mexico City, brings a humble and straight forward approach to the world…
Know More

Contact

Similar Properties

Roberto Gonzalez

Roberto Gonzalez