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224 Summit Avenue

HAGERSTOWN, MD 21740
  • $1,100,000
  • STATUS: Active
  • ON SITE: 36 Days
  • ID#: MDWA2019876
Price Reduced
UPDATED: 50 min ago
$1,100,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1900
County:

School Information

Elementary School:
Middle School:
High School:

Description

I'm pleased to highlight that this property represents a turn-key investment, presently generating a monthly income of $11,000. Discover the potential in this captivating 12-apartment complex, ideally positioned just a block from the verdant City Park in Hagerstown and near the highly anticipated, cutting-edge multi-purpose sports center stadium currently underway. This collection of 12 appealing one-bedroom, one-bath units presents a perfect fusion of comfort and cost-effectiveness, designed to maintain a high tenant retention rate.In addition, the property offers an effortlessly manageable ownership experience. The existing rental organization oversees all maintenance, repairs, and property management tasks. The sole responsibility for the new owner is the manageable utility costs, which are impressively below $600/month, covering water, sewer, trash, gas, and electricity.More than just a building, this property stands as a ready-to-go investment, perfectly poised for growth and offering unmatched convenience in the thriving community of Hagerstown.Key Features:- Prime Location: A stone's throw from crucial services and amenities, ensuring a convenient and desirable lifestyle for residents.- Parking Provisions for Tenants: The availability of three garages and four carports offers ample parking, significantly enhancing tenant satisfaction.- Recent Enhancements at 224-226 Summit Ave:- Upgraded Hygiene Facilities: Installation of brand new toilets in each unit for improved sanitation.- Optimized Climate Control: Introduction of new mini split systems in every unit, offering efficient temperature regulation.- Basement Improvements: Strategic waterproofing and the addition of commercial dehumidifiers to ensure a dry and pleasant basement environment.- Safety Upgrades: Restoration and code compliance of the rear deck/fire escape for utmost safety.- System Overhauls: A thorough revamp of the building's plumbing and electrical frameworks.- Maintenance and Cleanliness: Comprehensive cleaning of the garage, basement, and communal areas.- Community Enhancements: The communal room now features a new washer and dryer, adding convenience for all tenants.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Taylor-Made Deep Creek Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-01T14:56:52.023.
www.deepcreeksales.com/homes/146870864
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224 Summit Avenue HAGERSTOWN, MD 21740

  • Price: $1,100,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 50 min ago
  • ID#: MDWA2019876
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1900
Built
County:
Washington
Elementary School:
Bester
Middle School:
E. Russell Hicks School
High School:
South Hagerstown Sr
School District:
Washington County Public Schools
Property Description
I'm pleased to highlight that this property represents a turn-key investment, presently generating a monthly income of $11,000. Discover the potential in this captivating 12-apartment complex, ideally positioned just a block from the verdant City Park in Hagerstown and near the highly anticipated, cutting-edge multi-purpose sports center stadium currently underway. This collection of 12 appealing one-bedroom, one-bath units presents a perfect fusion of comfort and cost-effectiveness, designed to maintain a high tenant retention rate.In addition, the property offers an effortlessly manageable ownership experience. The existing rental organization oversees all maintenance, repairs, and property management tasks. The sole responsibility for the new owner is the manageable utility costs, which are impressively below $600/month, covering water, sewer, trash, gas, and electricity.More than just a building, this property stands as a ready-to-go investment, perfectly poised for growth and offering unmatched convenience in the thriving community of Hagerstown.Key Features:- Prime Location: A stone's throw from crucial services and amenities, ensuring a convenient and desirable lifestyle for residents.- Parking Provisions for Tenants: The availability of three garages and four carports offers ample parking, significantly enhancing tenant satisfaction.- Recent Enhancements at 224-226 Summit Ave:- Upgraded Hygiene Facilities: Installation of brand new toilets in each unit for improved sanitation.- Optimized Climate Control: Introduction of new mini split systems in every unit, offering efficient temperature regulation.- Basement Improvements: Strategic waterproofing and the addition of commercial dehumidifiers to ensure a dry and pleasant basement environment.- Safety Upgrades: Restoration and code compliance of the rear deck/fire escape for utmost safety.- System Overhauls: A thorough revamp of the building's plumbing and electrical frameworks.- Maintenance and Cleanliness: Comprehensive cleaning of the garage, basement, and communal areas.- Community Enhancements: The communal room now features a new washer and dryer, adding convenience for all tenants.
Exterior Features

Construction Materials BrickBrick Front Garage YN No Parking Types On StreetPrivate GarageOff Site Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6144.00 Cooling Multi Units Heating Wall Unit Heating YN Yes Net Square Feet 6144.00

Property Features

Accessibility Features None Assessment Year 2023 Business Type Apartment Building Central Air YN No Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Municipality Hagerstown Navigable Water YN N New Construction YN No Number Of Units Total 12 Original MLSNumber 802829715198 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 6420.00 Tax Assessment Amount 334900.00 Vacation Rental YN No Water Source Public Zoning RMED

Listing courtesy of RG Realty, Inc.: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Taylor-Made Deep Creek Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-03-01T14:56:52.023.
 
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