228 E Washington St - Office/Residential FOR SALE


Hagerstown, MD 21740- Outer Downtown/Maugansville
$275,000 USD
301-991-0207
228 E Washington St, Hagerstown, MD for Sale
$275,000 USD
Office/Residential - FOR SALE
1/47
null | Request Cap Rate

228 E Washington St
Hagerstown, MD 21740
Outer Downtown/Maugansville


HIGHLIGHTS

  • Value-add opportunity with a remodeled duplex, one residential unit leased and a vacant commercial space ready for lease-up
  • Immediate upside through leasing of the commercial unit, increasing overall income and value
  • Stabilized residential unit providing consistent cash flow from day one
  • Recent renovations reduce near-term capital expenditure and improve tenant appeal
  • Flexible commercial space suitable for a variety of uses, expanding tenant pool

OVERVIEW

RG Realty is pleased to present 228 E Washington Street, Hagerstown, Maryland, a mixed use value add opportunity offered at $275,000. The asset includes a residential upper unit that is currently rented at $1,475 per month on a month to month basis, plus a vacant lower unit that is commercially zoned and positioned for lease up, business use, or future repositioning. The property has received extensive improvements from 2021 through 2024, including electrical upgrades, separate panels, lead compliance for the upper unit, bathroom and kitchen improvements, refinished hardwood floors, exterior brick repainting, privacy fencing, updated lighting, separate electric water heaters, and a new 2 ton heat pump for the upper unit. The investment story is straightforward: immediate income from the upstairs unit, a vacant lower unit that drives the upside, recent capital improvements already completed, and flexible mixed-use potential in the Hagerstown market.

FOR SALE DETAILS

PRICE

$275,000 USD

PRICE/SF

$134 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Office, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1896

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,872 SF

ZONING

commercial

APN/PARCEL ID

22-016164

ASK ABOUT THIS PROPERTY

Roberto GonzalezRG Realty Inc.More Info
301-991-0207

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

Roberto GonzalezRG Realty Inc.More Info
301-991-0207

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