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.