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225-229 Jonathan Street

HAGERSTOWN, MD 21740
  • $1,100,000
  • STATUS: Active Under Contract
  • ON SITE: 40 Days
  • ID#: MDWA2019748
Under Contract
UPDATED: 52 min ago
$1,100,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,568
    SQFT
  • $128
    $/SQFT
Type:
Multi-Family
Built:
1983
County:

School Ratings & Info

Description

REDUCED PRICE- Exclusive 12-Unit, 1-Bedroom Brick Apartment Complex with Separate Metering, Lead-Free, and Close to Future Multi-Use StadiumCapture this unparalleled off-market investment in downtown Hagerstown. This 12-unit brick apartment complex, featuring 6 units per side, is not only fully renovated but also rent-ready. Each unit is separately metered, including a common area meter for the owner, electric baseboard heat, and individual hot water heaters. The property is lead-paint-free and offers cutting-edge amenities and security features. A smooth transition is guaranteed for the new owner of this fully modernized, turnkey investment.24/7 City-Monitored Security: Equipped with a cutting-edge security system that is actively monitored by the Hagerstown Police Department, ensuring round-the-clock safety.Private, Secure Parking: A commercial-grade chain-link fence encloses the private parking lot, featuring an automated, solar-powered remote-access gate.Up-to-Code Amenities: The property boasts a brand-new rear deck/fire escape that is fully compliant with city ordinances, along with new windows and waterproofed basements.Interior Excellence: The interior features commercial-grade LVP flooring, new kitchen cabinets, countertops, and appliances, as well as updated bathroom vanities, toilets, and fixtures.Additional Perks: The common areas have been revamped with commercial carpeting and coin-operated washers and dryers, managed by a third-party company. The owner retains 50% of the profits without any maintenance or overhead costs.Code Compliance: All renovations meet City and Section 8 rental inspection standards, including upgraded deadbolts and a Smart Key system for the entire building.Proximity to New Developments: Situated just three blocks from the new multi-use sports center stadium slated for completion in 2024, and around the corner from a new brewery.Impressive ROI: The property has proven peak market rents, achieving rental income exceeding $1,000 per month for each 1-bedroom, 1-bathroom unit.With over $250,000 invested in renovations, this property offers a unique opportunity for investors to acquire a fully renovated, code-compliant multifamily building in a prime location. Don't miss out on this exceptional investment opportunity.Hagerstown, MD, is seeing a boom in development, making it ripe for investment. Key projects include:

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gail Nyman Group | Re/Max United Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T18:53:46.72.
www.gailnymanhomes.com/homes/146644592
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225-229 Jonathan Street HAGERSTOWN, MD 21740

  • Price: $1,100,000
  • Status: Active Under Contract
  • On Site: 40 Days
  • Updated: 52 min ago
  • ID#: MDWA2019748
0
Beds
0
Baths
0
½ Baths
0.13
Acres
8,568
SQFT
$128
$/SQFT
1983
Built
County:
Washington
School District:
Washington County Public Schools
Property Description
REDUCED PRICE- Exclusive 12-Unit, 1-Bedroom Brick Apartment Complex with Separate Metering, Lead-Free, and Close to Future Multi-Use StadiumCapture this unparalleled off-market investment in downtown Hagerstown. This 12-unit brick apartment complex, featuring 6 units per side, is not only fully renovated but also rent-ready. Each unit is separately metered, including a common area meter for the owner, electric baseboard heat, and individual hot water heaters. The property is lead-paint-free and offers cutting-edge amenities and security features. A smooth transition is guaranteed for the new owner of this fully modernized, turnkey investment.24/7 City-Monitored Security: Equipped with a cutting-edge security system that is actively monitored by the Hagerstown Police Department, ensuring round-the-clock safety.Private, Secure Parking: A commercial-grade chain-link fence encloses the private parking lot, featuring an automated, solar-powered remote-access gate.Up-to-Code Amenities: The property boasts a brand-new rear deck/fire escape that is fully compliant with city ordinances, along with new windows and waterproofed basements.Interior Excellence: The interior features commercial-grade LVP flooring, new kitchen cabinets, countertops, and appliances, as well as updated bathroom vanities, toilets, and fixtures.Additional Perks: The common areas have been revamped with commercial carpeting and coin-operated washers and dryers, managed by a third-party company. The owner retains 50% of the profits without any maintenance or overhead costs.Code Compliance: All renovations meet City and Section 8 rental inspection standards, including upgraded deadbolts and a Smart Key system for the entire building.Proximity to New Developments: Situated just three blocks from the new multi-use sports center stadium slated for completion in 2024, and around the corner from a new brewery.Impressive ROI: The property has proven peak market rents, achieving rental income exceeding $1,000 per month for each 1-bedroom, 1-bathroom unit.With over $250,000 invested in renovations, this property offers a unique opportunity for investors to acquire a fully renovated, code-compliant multifamily building in a prime location. Don't miss out on this exceptional investment opportunity.Hagerstown, MD, is seeing a boom in development, making it ripe for investment. Key projects include:
Exterior Features

Architectural Style Other Construction Materials Brick Garage YN No Location Type Downtown Parking Types Parking Lot Pool No Pool Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 8568 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Window Unit(s) Fireplace YN No Heating Baseboard - Electric Heating YN Yes Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 0

Property Features

Accessibility Features None Assessment Year 2023 Central Air YN No Cooling Fuel Electric Foundation Details BlockBrick/Mortar Heating Fuel Electric Hot Water Electric Municipality Hagerstown Navigable Water YN N New Construction YN No Number Of Units Total 4 Original MLSNumber 802816207482 Ownership Interest Fee Simple Possession Settlement Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 5932.00 Tax Assessment Amount 309467.00 Vacation Rental YN No Water Source Public Zoning CCMU

Listing courtesy of RG Realty, Inc.: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gail Nyman Group | Re/Max United Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T18:53:46.72.
 
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