505 Church StHagerstown, MD 21740

Property Details for 505 Church St

Year built

1905

Property size (Sq ft)

3,556 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a six-unit apartment building located at 505 W Church St, Hagerstown, MD 21740. The property, a stabilized investment, boasts a total of 3,556 square feet of net rentable space, distributed across six spacious units, each approximately 700 square feet. Currently generating over $6,650 in monthly rental income, this fully occupied building offers significant potential for increased revenue by adjusting rents to market rates. Built in 1905, the two-story, all-brick structure sits on a 2,200 square foot lot and is zoned RMED. The building features separate electric meters for each unit, simplifying utility management and making tenants responsible for their respective costs. Recent upgrades include new replacement windows, enhancing energy efficiency and reducing maintenance expenses. The property's prime location within a thriving mixed-use neighborhood near downtown Hagerstown's arts and entertainment district ensures strong rental demand and long-term stability. This turnkey property, with its durable brick and masonry construction, presents a low-maintenance, high-potential investment opportunity for discerning buyers. The asking price is $675,000, and the property is offered fee simple. APN is 1322. An additional six-unit property from the same seller is available, presenting a unique opportunity to expand your investment portfolio in this high-demand area.

Location Insight

City

Hagerstown

County

Washington

State

Maryland

Latitude

39.6486

Longitude

-77.7267

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