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136-138 E Franklin St
For Sale $700,000 ($140.00 per Sq Ft)
$700,000 ($140.00 per Sq Ft)
- 4 Units
- 5,000 Sq Ft
- 9,840 Sq Ft
- Unknown Cap Rate
Description
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
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $700,000 |
| Property Type | Other |
| Usable Sqft | 5,000 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1894 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2222015702 |
| MLS # | MDWA2025592 |
| Property ID | 321041022 |
| Lot Sqft | 9,840 |
| Zoning | CCMU |
| Total Units | 4 |
| Days on Market | 16 |
| Original List Price | Unknown |
| Date Updated | November 29, 2024 |
| Date Created | November 14, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Roberto G. Gonzalez an agent of . Lic #598229
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Data last updated: November 30, 2024.
Robert Crawford
REAL ESTATE AGENT