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29 W Franklin St 6 Unit Apartment Building $695,000 ($115,833/Unit) Hagerstown, MD 21740
INVESTMENT HIGHLIGHTS
- Immaculately maintained and excellent condition inside and out.
- Flexible CC-MU residential / commercial mixed use zoning
- Downtown Hagerstown
EXECUTIVE SUMMARY
The first floor is currently owner-occupied and utilized as professional office space. The owner is willing to lease back the first-floor space for a period of 3–6 months following settlement. The six upper-level units have historically been used as professional office space and are currently vacant. Conversion of the upper levels back to residential use will require installation of a sprinkler system. Due to the long-term professional use and occupancy by practicing partners, there is no existing residential rent roll available. The six apartment units are in excellent condition and are considered rent-ready. Outstanding Investment Opportunity in Downtown Hagerstown! Pride of ownership shows in this extremely well-maintained commercial building inside and out, known locally as the Einbinder Building. Offering over 8,600 sq. ft. of usable space across four stories plus a finished basement, this property is perfectly suited for a variety of uses under its CC-MU (City Center Mixed Use) zoning. The building features two main entrances: one leading to a spacious first-floor office suite with multiple private offices and a large conference room, and another providing direct access to six upper-level units with income-producing residential potential on upper floors, also includes a functional fire escape. The finished basement adds additional office space, utility areas, and a walkout to the rear parking lot. A rare bonus in the downtown market, the property includes a private rear parking lot with multi-alley access, accommodating 8 vehicles with potential for expansion. Conveniently located just steps from the U.S. Post Office, Hagerstown City Hall, courthouses, Meritus Baseball Stadium, local businesses, and restaurants, with easy access to both I-81 and I-70, this building combines an unbeatable location with flexible functionality. Don’t miss this exceptional chance to invest in the heart of Hagerstown’s growing downtown district!
PROPERTY FACTS
| Price | $695,000 | Building Class | C |
| Price Per Unit | $115,833 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 14,000 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | CC-MU - City Center Mixed Use | ||
| Price | $695,000 |
| Price Per Unit | $115,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 14,000 SF |
| No. Stories | 4 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
| Zoning | CC-MU - City Center Mixed Use |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 25-010159 | Improvements Assessment | $497,400 |
| Land Assessment | $51,200 | Total Assessment | $548,600 |
PROPERTY TAXES
Parcel Number
25-010159
Land Assessment
$51,200
Improvements Assessment
$497,400
Total Assessment
$548,600
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29 W Franklin St
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