7042-7044 Carroll Ave - Apartments FOR SALE


Takoma Park, MD 20912
$1,250,000 USD
202-318-6800
7042-7044 Carroll Ave, Takoma Park, MD for Sale
$1,250,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

7042-7044 Carroll Ave
Takoma Park, MD 20912


HIGHLIGHTS

  • • Ideal for Partial-User or Investor
  • • 100% Leased to Month-to-Month Tenants
  • • Increase Revenue by Converting Some or All Multifamily Units to Commercial
  • • Rare Opportunity in Old Takoma | 56+ Feet of Street Frontage on Carroll Avenue

OVERVIEW

Feldman Ruel is pleased to offer for sale 7042-7044 Carroll Avenue, a mixed-use property centrally located in the vibrant business district of Takoma Park, Maryland. The subject property consists of a two-level retail unit (7042 Carroll Avenue) and six multifamily units (7044 Carroll Avenue), with front and rear yards and one parking space. The subject property’s Neighborhood Retail (NR) zoning allows for a broad range of commercial uses. Given the demand for commercial space in Takoma Park, a purchaser may benefit from expanding the commercial use. All of the tenants are on month-to-month leases, and the property can be delivered vacant. In accordance with Takoma Park’s multifamily rent stabilization regulations, a landlord may set rents for future multifamily tenants up to the banked allowable increase of 13.75%.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$313 USD /SF

# OF UNITS

7

PRICE/UNIT

$178,571

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,765 SF

ZONING

NR

APN/PARCEL ID

13-01057694

ASK ABOUT THIS PROPERTY

Hannah McCannFeldman RuelMore Info
202-318-6800

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Hannah McCannFeldman RuelMore Info
202-318-6800

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