211-225 Brown StFruitland, MD 21826

Property Details for 211-225 Brown St

Year built

2010

Lot size

1.03 AC

Property size (Sq ft)

8,754 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents an eight-unit apartment building located at 211-225 North Brown Street, Fruitland, Maryland, 21826. Built in 2010, this property boasts a total of 8,754 square feet situated on a 1.033-acre lot. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $144,322.66, representing a 7.22% cap rate. Each of the eight units offers desirable floor plans, including three primary suites, all with private bathrooms, contributing to the property's strong occupancy history and low turnover. The asking price is $2,000,000, or $250,000 per unit, translating to a price per square foot of $228. The property is zoned R-3, providing flexibility for future development or expansion. Its prime location on Maryland's Eastern Shore, just south of Salisbury, ensures consistent rental income and strong potential for future appreciation. This turnkey investment is ideal for those seeking a stable and profitable addition to their multifamily portfolio. The property's excellent condition and high occupancy rate make it a truly compelling opportunity.

Location Insight

City

Fruitland

County

Wicomico

State

Maryland

Latitude

38.3171

Longitude

-75.6113

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