For Sale
$500,000

41 Franklin StHagerstown, MD 21740

5-Unit Apartment Building, Newly Renovated

Overview

Added:
Dec 11, 2024
Days on market:
115
This fully renovated, 5-unit apartment building at 41 E Franklin St, Hagerstown, MD, presents a compelling investment opportunity. The property, built in 1895 and extensively renovated in 2024, boasts 4,265 square feet of net rentable space across three stories. Each of the five units benefits from modern updates including granite countertops, new appliances, updated cabinetry, plumbing, and electrical systems, along with fresh paint. Exterior improvements include enhanced deck spaces. Energy efficiency upgrades feature two new water heaters, new radiator valves, and energy-efficient lighting. The property is fully code compliant, possessing all necessary rental licenses and lead certificates. Situated on a 0.06-acre lot (APN 553), this fee-simple ownership opportunity is zoned CCMU. Currently operating at 20% occupancy, the building projects a gross monthly income of $5,200. Low maintenance costs and a projected 7.5% capitalization rate make this a turnkey investment ready for immediate occupancy in a growing market. The property's prime location in Hagerstown, MD (zip code 21740) offers easy access to local amenities and transportation. This is a rare chance to acquire a well-maintained, updated multifamily property in a desirable location.

Highlights

  • Fully renovated 5-unit apartment building in Hagerstown, MD.
  • 4,265 square feet of net rentable space on a 0.06-acre lot (APN 553).
  • Modern updates throughout, including granite countertops, new appliances, and updated systems.
  • Energy-efficient upgrades and fully code compliant with all necessary licenses and certificates.
  • Currently 20% occupied, projecting $5,200 gross monthly income and a 7.5% capitalization rate.

Property Details for 41 Franklin St

Property type
Apartment buildings
Square Feet
4,265 SF
Class
C
Year Built/Renovated
1895/2024
Buildings
1
Stories
3
Lot Size (sq. ft)
2,614 SF
Units
5

Location Insight

City
Hagerstown
County
Washington
State
Maryland
Latitude
39.6424786
Longitude
-77.7179229
41 Franklin St, Hagerstown, Maryland

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41 Franklin St
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