UNDER CONTRACT $330,000 - MultiFamily
24 Broadway Ave, Hagerstown MD – The building is currently in great condition! very well kept. This investment property 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.
24 Broadway Ave prestigious three story all brick corner building, is located in the North End of Hagerstown Historic District, in a quiet suburban neighborhood, and features 6 over sized units, 4 One bedroom, 1 large Two bedroom, and One Efficiency. the units are spacious and well designed, with most having been updated in the past 5 years. All units are separately metered for electric and hot water, current rents are low for the location size and condition of the units, therefore, there is also an opportunity to raise the rents without any type of improvements. in addition, the property offers a large garage at rear of the property.
The Commercial real estate market is still one of the healthy sectors in Hagerstown. Factors that contribute to this are the low overhanging housing inventory and vacant lots. Data from the Maryland Association of Realtor’s showed that spring this year, Hagerstown observed the profitable sale of existing homes. The figure rose by nearly 10 percent reaching 5 ,600 from the month of April alone. Compared to the previous years, the number of homes in Maryland sold for the month of May this season also jumped by 30 percent from the 2009 figures and 31 percent from the 2008 figures.
In another part of the Hagerstown real estate market, the production of new homes also showed an increase. For the first quarter of 2010 , the rate was up by 13 percent compared to the 2009 figures. This increase in the construction of brand new homes adopted the same positive development in the preceding quarter. Individuals are targeting the city as a potential place to live and work in for certain excellent deals especially those thinking of buying a new home. It’s the buyer’s market in the Hagerstown Real estate sector and short sales have gone up
Those interested to buy a residential property may take benefit of short sales. This kind of property for sale can be acquired at a low-cost price , but it may take a lot of endurance and convincing especially on the part of the lender . The reason for this is that the loan company which permitted the mortgage loan for the property may not easily authorize the short sale because the selling price is insufficient to repay an existing mortgage.
Property sizes in Hagerstown vary tremendously from the flat medium sized ones to the large two-story houses . The flat homes are great for people that have old loved ones who are no longer fit climb and down the stairs and families with young children . When it comes to design , the things you will find in the city are those that have basement foundations and multi-level types . The Colonial style usually has two levels and four bedrooms with two to three bathrooms and two garages .
Yet another type is the Ranch or Rambler or the one-level home common around Maryland and Virginia. Such a home also provides the raised version that is generally constructed on a hill and features the so-called walk-out basement.
Call Roberto Gonzalez for additional information on 24 Broadway Ave
Call Roberto Gonzalez for additional information