7208 Bowdoin AveCollege Park, MD 20740

Property Details for 7208 Bowdoin Ave

Year built

1900

Property type

Apartment buildings

Description

This exceptional College Park, MD investment opportunity presents a 5-unit apartment building situated on a 7,691 sq ft lot at 7208 Bowdoin Ave, 20740. The property, built in 1900 and renovated in 2000, boasts a four-story structure with a permitted R zoning classification. The building comprises five separately metered units: two one-bedroom units, two standard studio units, and one large studio unit. Currently generating a NOI of $56,803, with a 7.43% cap rate, a pro-forma NOI of $71,911 projects a 9.40% cap rate, indicating significant upside potential. The asking price is $765,000, or $153,000 per unit. Six parking spaces are available. All utilities are billed back to tenants, minimizing landlord expenses to taxes and insurance. The property's prime location, just 300 feet from the metro, enhances its appeal and rental potential. The current monthly rent of $5,741 is easily scalable to $7,000-$7,500. The property is licensed and inspected by the City of College Park. Showings are by appointment only, requiring a Letter of Intent. Note that this is a fee-simple ownership. Additional investment opportunities exist with two adjacent six-unit buildings also available for purchase, presenting a potential 17-unit portfolio or substantial development opportunity.

Location Insight

City

College Park

County

Prince George's

State

Maryland

Latitude

38.9775

Longitude

-76.9294

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].