Under contract

ACTIVE UNDER CONTRACT

136-138 E Franklin St

Hagerstown MD, 21740

$700,000


$136.61 per sqft

Under contract

ACTIVE UNDER CONTRACT

5,124 sqft

Commercial

Built in 1894

Prime investment opportunity! Currently generating over $7,000 in monthly rental income with potential for further increases to market rates, this all-brick, fully-occupied multi-family property in downtown Hagerstown offers an exceptional addition to any portfolio. Featuring six spacious units, approximately 835 sq ft each, the building is fully equipped with separate electric meters, placing utility responsibility on tenants and streamlining management. Solid structural integrity is ensured with a brick and masonry foundation, complemented by new replacement windows that enhance energy efficiency. Each floor is thoughtfully laid out with two large units, providing tenants with ample living space and privacy.

Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors' review. Located at the gateway to Hagerstown's vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don't miss the opportunity to acquire a robust, low-maintenance property in a prime location.
AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area

MDWA2025590

MLS ID

November 15, 2024

Listed

December 2, 2024

Updated

Map

136-138 E Franklin St
Hagerstown MD, 21740

Interior Features

Appliances

Electric Water Heater


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Baseboard, Electric

Exterior/Building Features

Lot Size

0.23 Acres


Sewer

Public Sewer

Other Property Details

Area Name

Hagerstown


Taxes

$4,055


Tax Frequency

Annually


Days on Market

18


Garage

No


Parking

On Street


Parking Total

6


View

No


County

WASHINGTON


Water Source

Public


Pool

No

Listing History

Date

Event

Price

12/2/2024

Under contract

11/29/2024

Price change

$700,000

3%

11/15/2024

Active

Listed by RG Realty, Inc.
Listing Contact: 3019910207 

The IDX display contains information sourced from the Bright MLS, Inc. as of 12/2/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 12/2/2024 at 12:37 PM UTC

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