Thank you
Manyi M Rehm
RE/MAX Realty Group
301-921-4500
This property boasts a fully leased, updated, and renovated 4-unit apartment building, offering the potential to occupy one unit while generating income from the others. Each apartment is individually metered in this all-electric property, with tenants responsible for all utilities except water/sewer. The building comprises two one-bedroom apartments on each floor, each featuring shaded front and rear porches. The basement is dry and unfinished, providing internal access and housing four hot water heaters. There are window A/C units for each apartment. Current lead certificates and executed leases are on file for each unit. Constructed with low-maintenance block materials. Each unit can obtain one free parking permit to park in the street in front of the building. A narrow 'Pony Way' or alley on the east side provides access to the rear garden. Conveniently located near the MARC Rail Station, Carroll Creek Promenade, restaurants, galleries, and shopping, the property is meticulously maintained and managed by the current owner. The property generates $59,500 in total annual income in 2023 and $62,400 in 2024, with expenses, including taxes, insurance, water/sewer, lead inspection (only required upon change of tenants), and normal maintenance totaling approximately $ 12,400 annually, resulting in a net operating income of $50,000. With fewer than 5 units, financing does not necessitate a burdensome commercial loan. This property is also listed under Multi-Family - MLS# MDFR2046172
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Total Bedrooms : 4
Master Bedroom Level: 2
Total Bedroom (Upper): 2
Bedroom Upper Level 1: 2
Total Baths: 4
Full Baths: 4
Water Source : Public
Patio/Porch Features: Balcony
Attic,Carpet,Ceiling Fan(s),Floor Plan - Traditional,Kitchen - Eat-In,Wood Floors
Roof : Metal,Asphalt
Exterior Property Features : Street Lights
Basement Description: Interior Access,Unfinished
Property Appliances: Dryer,Exhaust Fan,Oven/Range - Electric,Refrigerator,Washer,Water Heater
Metal,Asphalt
Cooling: Ceiling Fan(s),Window Unit(s)
Heating: Baseboard - Electric,Heat Pump(s)
Cooling Fuel: Electric
Heating Fuel: Electric
Window Treatments: Screens,Vinyl Clad
Exterior Features: Street Lights
Year Built: 1927
Structure: Detached
Major Appliances: Dryer,Exhaust Fan,Oven/Range - Electric,Refrigerator,Washer,Water Heater
New Construction: No
Built: 1927
Construction Material: Frame
Security System: Smoke Detector
Roof: Metal,Asphalt
Foundation/Basement: Stone,Block
Architecture: Transitional
Pool/Private: No Pool
Roof Type: Metal,Asphalt
Utilities: Cable TV,Natural Gas Available,Phone Available,Sewer Available,Water Available
Pool: No Pool
Sewer: Public Sewer
Water Heat: Electric
Lot Size: 3,600
Lot Size (Acres): 0.08
Architectural Style: Transitional
Stories Total: 3
Main Square Feet: 3,600
SQ ft: 3,192
SQ ft (Living Area): 2,544
Total Lot SQ ft: 3,600
View: Garden/Lawn,Street
Subdivision: FREDERICK HISTORIC DISTRICT
Total Acreage: 0.08
New Construction: No
Type: Transitional
Possession: Settlement
Days Of Market: 8
Annual Tax: $6,957
Tax Year: 2023
Total Taxes Payment Frequency: Annually
Settlement
Taxes Assessment Amount: $387,000
Parking Type: On Street
Has Garage: N
Roof: Metal,Asphalt
Direction: See GPS
Elementary School: LINCOLN
Middle OR Junior School: WEST FREDERICK
High School: FREDERICK
School District: FREDERICK COUNTY PUBLIC SCHOOLS
Cable TV,Natural Gas Available,Phone Available,Sewer Available,Water Available
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: Electric
Heating Fuel: Electric
Hot Water: Electric
Location Type: Downtown
Direction: See GPS
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
0000 Plantation Road , Frederick, MD,21701 | $895,000 | -- | -- | 2,050,369 | 2050369 Sqft |
12 Franklin Street , Frederick, MD,21701 | $320,000 | 3 | 1.5 | 1,150 | 3366 Sqft |
212 Rockwell Terrace , Frederick, MD,21701 | $1,890,000 | 5 | 6.0 | 7,092 | 16000 Sqft |
94 Wormans Mill Court , Frederick, MD,21701 | $639,900 | -- | -- | 56,990 | 56990 Sqft |
817 Foundry Street , Frederick, MD,21701 | $724,990 | 5 | 5.5 | -- | 4000 Sqft |
2501 Gatwick Lane #LOT.., Frederick, MD,21701 | $560,837 | 4 | 3.5 | -- | -- |
2505 Gatwick Lane #LOT.., Frederick, MD,21701 | $470,487 | 3 | 2.5 | -- | -- |
2509 Gatwick Lane #LOT.., Frederick, MD,21701 | $469,557 | 4 | 3.5 | -- | -- |
2507 Gatwick Lane #LOT.., Frederick, MD,21701 | $532,943 | 4 | 3.5 | -- | -- |
2511 Gatwick Lane #LOT.., Frederick, MD,21701 | $527,608 | 4 | 3.5 | -- | -- |
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ByOwner last updated this listing 04/30/2024 @ 20:10
MLS: MDFR2046786
LISTED BY: Manyi M Rehm , RE/MAX Realty Group
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.