SOLD $315,000 - Apartment Building, Commercial, Multi Family
925 Hamilton Blvd, Hagerstown MD 21740
925 Hamilton Blvd, This prestigious three story all brick building, is located in the North End of Hagerstown Historic District, in a quiet suburban neighborhood, and features 6 over sized One bedrooms one bath units, approximately 750 ft2 each, the units are spacious and well designed, with most having been updated in the past 5 years. All units are separately metered for electric, based on location size and condition of the units, there is also an opportunity to raise the rents without any type of improvements. The property benefits from possessing units of larger than typical size, the tenant base are strong for this property type.
The property improvements are compatible and appropriate for the area, adding that the property is in excellent condition having some recent updates and well maintained. No needed repairs were noted at this time. One and two bedroom apartment’s unit’s tend to be the most desired, Three and four bedroom unit tend not to appeal to the largest market segment. The current/actual rents are considered to be in line with other similar multi-family dwellings from within immediate general market area.
The property generally conforms to the neighborhood in terms of functional utility, style, condition, use and quality of construction. There are no adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses.
The property enjoys the close proximity within less than ½ mile to the Arts & Entertainment District in Hagerstown, the new University of Maryland, public library and the Maryland Theatre, the neighborhood includes the fairground park area, with athletic fields, and walking paths, the property has been professionally owned and operated