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Krystal Stewart
RG Realty, Inc.
240-203-6393
Property Overview: 412 N Potomac St is a two-story building located on a popular urban street in Hagerstown, Maryland. This property features a total of 5 units, comprising 4 spacious apartments and one large office space. Of the 4 apartments, 3 are 2-bedroom units, and 1 is a 1-bedroom unit. The 2-bedroom units are equipped with central air conditioning for added comfort. The property sits on a .441-acre parcel and includes a convenient parking lot at the rear of the building with 25 parking spaces, which could be rented out for additional income. Location and Amenities: The property boasts a prime location in close proximity to the vibrant Art & Entertainment District in Hagerstown. It is also within walking distance of the new University of Maryland, the new Public Library, and the new Maryland Theater, making it an attractive choice for tenants seeking convenience and access to cultural and educational amenities. Property Condition and Upgrades: Professionally owned and operated, the property has been well-maintained. Most apartments have undergone recent upgrades, including a roof replacement in 2007 and updates to plumbing and electrical systems. All units are separately metered for electric, providing the opportunity to increase rents without the need for additional improvements. The sidewalks and curbs are in good repair, and all windows have been replaced. While interior surfaces may vary from unit to unit, they are generally considered to be in good condition. Some units have received updates such as new carpet, refinished hardwood floors, or new appliances, ensuring they are in a satisfactory state of repair. Utilities and Services: Trash removal is efficiently managed by the city of Hagerstown, with the cost included in the quarterly water and sewer bill. Market Demand and Zoning: The property is located in a mixed-use neighborhood with a blend of residential and commercial uses. This area continues to experience demand for properties like this, attracting both local and out-of-town investors who are interested in purchasing and renovating similar buildings. The zoning and use are compliant with local ordinances, and the property is considered a legal, non-conforming grandfathered use, consistent with similar buildings in the city. This status has no negative impact on rental rates or property values. Investment Opportunity: 412 N Potomac St represents a compelling investment opportunity in a highly desirable location, offering a mix of rental units and an office space. With a strong historical performance and potential for rent increases, this property is well-positioned to generate consistent rental income and long-term capital appreciation.
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Water Source : Public
Cooling: Central A/C
Heating: Heat Pump(s)
Cooling Fuel: None
Heating Fuel: Natural Gas
Year Built: 1895
Structure: Detached
New Construction: No
Total Units: 4
Built: 1895
Construction Material: Other
Foundation/Basement: Block
Architecture: Other
Pool/Private: No Pool
Utilities: Natural Gas Available,Electric Available
Pool: No Pool
Sewer: Public Sewer
Water Heat: Natural Gas
Lot Size: 19,200
Lot Size (Acres): 0.44
Architectural Style: Other
Main Square Feet: 19,200
SQ ft: 4,466
SQ ft (Living Area): 4,466
Total Lot SQ ft: 19,200
Total Acreage: 0.44
New Construction: No
Type: Other
Possession: Immediate
Days Of Market: 90
Annual Tax: $4,669
Tax Year: 2023
Total Taxes Payment Frequency: Annually
Immediate
Taxes Assessment Amount: $243,567
Total Parking Spaces: 25
Parking Lot - # of Spaces: 25
Parking Type: Parking Lot
Has Garage: N
Direction: gps
School District: WASHINGTON COUNTY PUBLIC SCHOOLS
Natural Gas Available,Electric Available
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: None
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Direction: gps
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Kenly Avenue , Hagerstown, MD,21740 | $289,900 | -- | -- | 28,096 | 28096 Sqft |
Cool Hollow Road , Hagerstown, MD,21740 | $350,000 | -- | -- | 801,504 | 801504 Sqft |
Thornhill Drive #CUMBE.., Hagerstown, MD,21740 | $477,990 | 3 | 2.5 | -- | 14375 Sqft |
Cambelton Drive #CYPRE.., Hagerstown, MD,21740 | $470,990 | 3 | 2.5 | -- | 10890 Sqft |
17755 Halfway Boulevard , Hagerstown, MD,21740 | $1,300,000 | -- | -- | 1,467,536 | 1467536 Sqft |
1432 Oak Ridge Place , Hagerstown, MD,21740 | $300,000 | -- | -- | 130,244 | 130244 Sqft |
701 Beaver Creek Road , Hagerstown, MD,21740 | $109,900 | -- | -- | 84,071 | 84071 Sqft |
906 Pope Avenue , Hagerstown, MD,21740 | $155,210 | 3 | 2.0 | 1,490 | 7500 Sqft |
13924 Patriot Way , Hagerstown, MD,21740 | $369,900 | 2 | 2.0 | -- | 7405 Sqft |
17157 Broadfording Road , Hagerstown, MD,21740 | $12,500,000 | -- | -- | 5,470,265 | 5470264.8 Sqft |
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ByOwner last updated this listing 05/08/2024 @ 22:10
MLS: MDWA2018842
LISTED BY: Krystal Stewart , RG Realty, Inc.
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 3%
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.