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121 Washington Ave
Chestertown, MD 21620
Multifamily Property For Sale
·
13 Units
PROPERTY FACTS
| No. Units | 13 | Building Size | 9,750 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1920 |
| Building Class | C | Parking Ratio | 2.05/1,000 SF |
| Lot Size | 0.54 AC | ||
| Zoning | R-3 | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 9,750 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1920 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | R-3 |
ABOUT 121 WASHINGTON AVE , CHESTERTOWN, MD 21620
Marcus & Millichap is pleased to present the exclusive offering of the Washington Avenue Apartments well located at 121 Washington Avenue, Chestertown, Maryland, 21620. Renovated in 2009 the Washington Avenue apartments totals thirteen units, eight and consists of, two-bedroom, one-bathroom units, five, one-bedroom, one-bathroom units, and two studio, one-bathroom units. The property is situated in the college town of Chestertown and is only two blocks from Washington College, a private, independent liberal arts school. Additionally, the property is walking distance from the Chester river, historic downtown, shops, restaurants and pubs. Many of the units in the property under went a renovation that included upgraded kitchens and bathrooms in 2009 and in 2018 the sewer line for the property was replaced. All two-bedroom units have washers and dryers in them and the one-bedroom units share a washer machine that is located in the common area. Currently the property presents a large value add opportunity as many of the existing rents are below market average. Chestertown, the county seat of Kent County, the Eastern Shore of Maryland's oldest county, was founded in 1706 and served as a major port of entry during colonial times. Its brick sidewalks and attractive antique stores, restaurants and inns beckon visitors and residents alike to wander, browse and admire. A visit to Chestertown's Historic District is especially worthwhile, and includes a number of fine colonial residences, as well as, some superb examples of later and more elaborate architectural styles. Chestertown is the second largest district of restored 18th-Century homes in Maryland, Chestertown is also home to Washington College, the nation's tenth oldest liberal arts college, founded in 1782.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 3 | - | 750 |
| 2+2 | 8 | - | 825 |
PROPERTY TAXES
| Parcel Number | 04-004485 | Improvements Assessment | $595,000 |
| Land Assessment | $248,800 | Total Assessment | $843,800 |
PROPERTY TAXES
