700 Fayette StCumberland, MD 21502

Property Details for 700 Fayette St

Year built

1965

Lot size

0.30 AC

Property size (Sq ft)

6,160 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This well-established six-unit apartment building presents a compelling investment opportunity in Cumberland, Maryland. Located on the Westside, this all-brick property boasts 6,160 square feet of living space situated on a 0.3-acre lot (13,024 square feet). The building, constructed in 1965 and zoned R-L, offers a mix of unit sizes to cater to diverse tenant needs: three two-bedroom units and three one-bedroom units. One unit is currently utilized as an Airbnb, demonstrating the potential for flexible rental strategies and increased income generation through short-term rentals. The property includes six off-street parking spaces and benefits from its convenient location near local amenities. The established rental history provides a solid foundation for continued income, while the wooded backdrop offers tenants increased privacy and tranquility. The asking price is $480,000, translating to $77.92 per square foot. This property offers a blend of stability and potential for growth, making it an attractive investment in the Mountain Maryland market. The property's APN is 0106006981 and is offered fee simple. The listing term begins July 19, 2024.

Location Insight

City

Cumberland

County

Allegany

State

Maryland

Latitude

39.6534

Longitude

-78.781

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