219-225 Brown StFruitland, MD 21826

  • Residential income properties
  • 4,320 SF
For Sale
$1,000,000 View listing

Property Details for 219-225 Brown St

Year built
2010
Lot size
0.48 AC
Property size (Sq ft)
4,320 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

Exceptional investment opportunity awaits in Fruitland, Maryland, a thriving community just south of Salisbury. This well-maintained, four-unit apartment building, constructed in 2010, presents a turnkey investment with a compelling 7.12% cap rate and a current NOI of $71,170.40. Boasting 4,320 square feet across four units, each priced at $250,000, the property enjoys 100% occupancy, minimizing vacancy concerns. The building's design features three primary suites, each with a private bath, making them highly desirable rental units. The property's location within Wicomico County, zoned R-3, ensures future flexibility. The low-maintenance aspect is further enhanced by the HOA's provision of lawn care, and tenant responsibilities for property upkeep. This investment offers a strong and consistent rental income stream, situated on a 0.476-acre lot at 219-225 North Brown Street, Fruitland, MD 21826. The property's strong occupancy history and easy-to-lease floor plans contribute to its overall appeal. This is a rare opportunity to acquire a profitable multifamily asset in a desirable location. The asking price is $1,000,000.

219-225 Brown St, Fruitland, Maryland

Location Insight

City
Fruitland
County
Wicomico
State
Maryland
Latitude
38.3173
Longitude
-75.6108

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