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- LoopNet Team
308 Patterson Ct
Takoma Park, MD 20912
Multifamily Property For Sale
·
7 Units
INVESTMENT HIGHLIGHTS
- . Estimated Property Taxes 2021 $7795
- . Lot Size: 10,076 square feet
- . 7 separate licensed units
- . Not Subject to Takoma Park Rent Stabilization Law! (Outside of City Limits)
- . Gross Income: $93,970 per year
- . Off-street parking for 7 cars
PROPERTY FACTS
| No. Units | 7 | Building Size | 3,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1938 |
| Building Class | C | Parking Ratio | 2.19/1,000 SF |
| Lot Size | 0.23 AC | ||
| Zoning | R-10 | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1938 |
| Parking Ratio | 2.19/1,000 SF |
| Zoning | R-10 |
ABOUT 308 PATTERSON CT , TAKOMA PARK, MD 20912
7 Units In Great Location By Park-Outside City! $925,000 Buyer got cold feet - sale approved by County and Tenants declined to purchase -This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 6 one-bedroom units and 1 studio; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas fired hot water heaters, and the electric box has been upgraded to circuite breaker. There's a separate laundry room in the basement with leased machines and rental income averages $300 per quarter. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. Gutters and downspouts are new. Seller is currently (8/20) making further improvements to the property while showings are restricted due to the COVID19 virus. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you are able to set market rents in the future. Highlights: . Estimated Property Taxes 2019 $7,470.73 . Year Built 1934 . Lot Size: 10,076 square feet . Zoning: R10 - Multi-family . Gross Income 2018: $88,391.43 . 7 separate licensed units . Off-street parking for 7 cars . Close to Park w/trails . Near to Bus Stop . Gas Radiator Heating . Mostly Thermal Windows . Recent Updates! . Not Subject to Takoma Park Rent Stabilization Law . Contact Agent for Financial Details
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
PROPERTY TAXES
| Parcel Number | 13-00979695 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $727,333 |
PROPERTY TAXES
