For Sale
$8,900,000

300 Northern AveHagerstown, MD 21742

66-Unit Apartment Complex, Prime Location

Overview

Added:
Feb 3
Days on market:
62
This exceptional 57,162 square foot multi-family property in Hagerstown, MD, presents a compelling investment opportunity. Built in 1954 on a 4.414-acre lot, this vintage complex comprises 66 units: 19 one-bedroom and 47 two-bedroom apartments, plus a separate office unit (not included in the residential count). Each apartment features a full bathroom with updated fixtures and ceramic tile flooring. The property boasts two large buildings, divided into nine distinct sections, offering unique architectural charm. A central foyer, stairwells, and common corridors enhance accessibility, while basement laundry facilities add convenience. The grounds include a paved parking area with 46 designated spaces and a 24-hour video monitoring system. Over $1.5 million in updates have been completed since 2017, including freshly painted units, refinished hardwood floors, new light fixtures, and upgraded kitchen flooring. Common areas have also been revitalized. The central boiler (replaced in 2012) provides efficient gas heating, while tenants manage their own air conditioning. A Ratio Utility Billing System (RUBS) is in place. The property's prime location near Longmeadow Shopping Center (including Amish Market), Stone House Square (Lowe's and Weis), and Fountain Head Country Club, coupled with its proximity to JLG Industries and proposed commercial development, ensures strong tenant demand and future growth potential. The proactive leasing strategy has resulted in significantly reduced vacancies. This property offers a blend of vintage charm, modern amenities, and a strategic location, making it a highly desirable and profitable asset. The asking price is $8,900,000.

Property Details for 300 Northern Ave

Property type
Multifamily properties
Square Feet
57,162 SF
Year Built
1954

Location Insight

City
Hagerstown
County
WASHINGTON
State
Maryland
Latitude
39.66335
Longitude
-77.70528
300 Northern Ave, Hagerstown, Maryland

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300 Northern Ave
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