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