345 W Patrick St 1,960 SF 100% Leased Office Building Frederick, MD 21701 $525,000 ($267.86/SF)

Presenting 345 W Patrick Street, a fully leased, income-generating residential investment offered at $525,000 with strong long-term upside. The property is currently occupied by two tenants, including one with over 10 years of tenancy and another who has recently renewed for an additional year, providing immediate and stable cash flow.
Recently remodeled, the property features hardwood floors throughout, an updated bathroom with a newly installed shower, and large-format tile in the kitchen. The kitchen has been upgraded with new cabinetry, enhancing both functionality and appeal. The layout consists of a 1-bedroom unit on the lower level and two additional bedrooms on the upper level, offering flexible use today with potential conversion back to a single-family residence.
Additional features include spacious bedrooms measuring approximately 12’ x 15’, an attic for added storage, and an exterior with brick construction beneath the siding, contributing character and durability.
Situated on a generous 10,960-square-foot lot, this property offers significant redevelopment or expansion potential (buyer to verify). The private backyard further enhances value, while the location—within walking distance to Baker Park—adds lifestyle and tenant appeal. This is a compelling opportunity for investors seeking steady income today with long-term redevelopment or repositioning potential in the future.