This fully occupied seven unit apartment building in Hagerstown is a solid multifamily investment. It is licensed with the City of Hagerstown, current on lead certification, and professionally managed. Recent improvements include a new roof in 2022 and upgraded electric service with new meters.
The building offers one studio of about 500 square feet, two one bedroom apartments of about 615 square feet each, and four two bedroom apartments of about 850 square feet each, for a total of roughly 5,130 rentable square feet. A rear lot parks five vehicles, and a detached two car garage provides added income potential.
The property sits on a 0.34 acre lot directly across from the new Hagerstown Multi Use Sports and Events Facility and two blocks from Downtown. It is within walking distance of the Entertainment and Arts District, the Washington County Free Library, and City Park, and is served by the public bus line. With consistent occupancy, strong renter demand in this submarket, and limited new multifamily supply, the asset offers reliable cash flow today and attractive long term appreciation potential in Hagerstown.
Property Features
Cooling Information
None
Electric
Heating Information
Natural Gas
Steam
Parking
Off Site
Other
Water Features
Public
School Information
School Information for 133 SUMMIT AVENUE, HAGERSTOWN, MD 21740