201-203 E Washington Street

Description

This exceptional five-unit mixed-use building offers a prime investment opportunity in the heart of Hagerstown. The commercial space at 201 E Washington St. has been fully renovated and brought up to code, featuring new flooring, fresh paint, ceiling repairs, updated electrical, and a brand-new roof. With approximately 800 square feet, the space is ideal for retail, office, or service-based businesses, with a projected rent of $1,000 per month. The residential portion of the building consists of four apartments, with 70% of the units fully renovated. The bottom-floor two-bedroom, one-bath unit has undergone a complete gut renovation, including new flooring, drywall, paint, plumbing, electrical, and appliances. A recent pipe leak caused water damage, which has been fully remediated by ServPro, though a new owner should anticipate $10,000 +/- in cosmetic repairs. The top-floor two-bedroom, one-bath unit was also affected by the same leak, which was professionally repaired by a licensed master plumber. The roof has been recently replaced, and ServPro completed the necessary water remediation, though $6,000 +/- in cosmetic work is needed to restore the space. The remaining one-bedroom, one-bath units are in great condition, with the rear unit expected to rent for $900 per month and the unit at 2 S Mulberry projected at $1,000 per month. With a total projected rental income exceeding $5,300 per month, this property is an excellent income-producing investment in a growing market. The combination of renovated units, prime location, and strong rental potential makes this an outstanding opportunity for investors looking for cash flow and long-term value.