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419 Summit Ave 5 Unit Apartment Building $499,900 ($99,980/Unit) Hagerstown, MD 21740
Investment Highlights
- Historic 3,600 SF building on a 6,840 SF lot with redevelopment potential.
- Situated in an established, walkable community with access to schools, services, and transit.
- Prime location in Hagerstown near residential neighborhoods and downtown amenities.
- Strong rental demand in the Hagerstown market, ideal for value-add investors seeking income-producing assets.
Executive Summary
New roof going on both front and rear buildings, along with new gutters and downspouts. The owner will consider holding owner financing. Owner is also selling 311 Summit Ave with 6 units, will do package deal. Great positive cashflow investment opportunity! Well maintained 3 unit apartment building in the front and a 2 unit over under apartment in the rear with alley access. Not far from beautiful City Park, Meritus Park, University of Maryland Hagerstown Campus, Barbara Ingram School of the Arts, Maryland Theatre, restaurants and more! This building is fully occupied and produces approximately $4,700 a month in income! Natural gas forced air heat! Separate electric meters. Large backyard. Rent roll available upon request, Schedule a tour today!!
Property Facts
| Price | $499,900 | Building Class | C |
| Price Per Unit | $99,980 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 3,812 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Parking Ratio | 1.57/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R1 | ||
| Price | $499,900 |
| Price Per Unit | $99,980 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,812 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 1.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03-011062 | Improvements Assessment | $188,200 |
| Land Assessment | $41,800 | Total Assessment | $230,000 |
Property Taxes
Parcel Number
03-011062
Land Assessment
$41,800
Improvements Assessment
$188,200
Total Assessment
$230,000
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419 Summit Ave
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