41 Franklin StHagerstown, MD 21740

Property Details for 41 Franklin St

Lot size

0.23 AC

Zone code

CCMU

Property type

Commercial real estate

APN

25-009053

APU

25009053

Description

This fully renovated, 5-unit apartment building at 41 E Franklin St, Hagerstown, MD, presents a compelling investment opportunity. The property, built in 1895 and extensively renovated in 2024, boasts 4,265 square feet of net rentable space across three stories. Each of the five units benefits from modern updates including granite countertops, new appliances, updated cabinetry, plumbing, and electrical systems, along with fresh paint. Exterior improvements include enhanced deck spaces. Energy efficiency upgrades feature two new water heaters, new radiator valves, and energy-efficient lighting. The property is fully code compliant, possessing all necessary rental licenses and lead certificates. Situated on a 0.06-acre lot (APN 553), this fee-simple ownership opportunity is zoned CCMU. Currently operating at 20% occupancy, the building projects a gross monthly income of $5,200. Low maintenance costs and a projected 7.5% capitalization rate make this a turnkey investment ready for immediate occupancy in a growing market. The property's prime location in Hagerstown, MD (zip code 21740) offers easy access to local amenities and transportation. This is a rare chance to acquire a well-maintained, updated multifamily property in a desirable location.

Location Insight

City

Hagerstown

County

Washington

State

Maryland

Latitude

39.6436

Longitude

-77.7209

CBSA code

25180

CBSA name

HAGERSTOWN-MARTINSBURG, MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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