193 Glenn St - Apartments FOR SALE


Frostburg, MD 21532
$1,700,000 USD
301-697-0401
193 Glenn St, Frostburg, MD for Sale
$1,700,000 USD
Apartments - FOR SALE
1/13
null | 8.35% Cap Rate

193 Glenn St
Frostburg, MD 21532


OVERVIEW

FIVE TAX ACCOUNTS! 22 Market Rate family rentals at the edge of a beautiful University Town. Usually near full occupancy and about 200/month below market rents allow an easy improvement in the bottom line for the new owners. Many recent updates and improvements inside and out and rent increases with little pushback from old and new tenants. This property was purchased by a Development Company 2022 from an estate with lots of deferred maintenance and rent way below market... rents have been moved closer to market (refreshed small townhomes easily fetch $1,000+ all utilities now) - so potential remains to continue increasing the investment returns here. 201 Glenn Street, Frostburg, Maryland 21532 (Account #0112 008376); (vi) 193 Glenn Street, Frostburg, Maryland 21532 (Account #0112 003560); (vii) 187 Glenn Street, Frostburg, Maryland 21532 (Account #0112 014783); (viii) [___] Spring Street, Frostburg, Maryland 21532 (Account #0112 014880); and (ix) [___] SE Spring Street, Frostburg, Maryland 21532 (Account #0112 001959) (collectively, the “Glenn Street Parcels”), Frostburg, MD is a small town located in the Appalachian Mountains. It has a population of about 8,500 people and is known for its picturesque views and small-town charm. Residents enjoy exploring the nearby mountains and streams, as well as taking part in local events such as art festivals, farmers markets, and live music concerts. The community is made up of individuals from all walks of life who share a common respect for each other. Living in Frostburg is great for those looking to get away from the hustle and bustle of city life but still have access to all the necessary amenities. Whether you're looking to take in some outdoor activities or simply enjoy the peace and quiet, Frostburg is sure to provide an enjoyable experience. Small metro area set in the mountains and valleys of the Mideast region. Primary industries include manufacturing and government. - Situated in western Maryland, along the Potomac River, 40 miles west of Hagerstown and 25 miles east of Morgantown, West Virginia..

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

22

PRICE/UNIT

$77,273

CAP RATE

8.35%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,797 SF

ZONING

R2-A

APN/PARCEL ID

12-003560

ASK ABOUT THIS PROPERTY

Doug MacyLONG & FOSTER REAL ESTATE, INCMore Info
301-697-0401

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Doug MacyLONG & FOSTER REAL ESTATE, INCMore Info
301-697-0401

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.