HAGERSTOWN Multi-Unit Investment
165 SUMMIT Avenue Hagerstown, MD 21740
165 SUMMIT Avenue, Hagerstown, MD, 21740
$649,000
For Sale
$649,000
MULTI_FAMILY - Colonial - HAGERSTOWN, MD
Property Size4,811 SF
Lot Size0.16 Acres
Price / SF$134.90
Days on Market72
Property Features for 165 SUMMIT Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 5
- Parking features
- Driveway
- Standard status
- Active
- Size
- 4,811 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4467
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Colonial
Listing Agency
Real Estate Innovations
(301) 745-1500
1850 Dual Highway, Hagerstown, MD
Listed by
Alice J Guy · License #80505
(717) 977-9031
Added: May 8 Checked: Jul 18 at 3:06 am
MLS# MDWA2036864
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a five-unit apartment building suitable for investors. The property overlooks the new $95 million Meritus Baseball Park. It features ample parking in the rear for tenants and a shed for maintenance storage. Constructed of brick, the building utilizes common natural gas for heat and water/sewer. The property is located in HAGERSTOWN, MD. The lot size is 0.1632 acres and the building size is 4,811 square feet.
Key Highlights
- 5‑unit apartment building
- Overlooking the new $95MM Meritus Baseball Park
- Ample parking in rear for tenants
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.3k | $18.36 |
| − Vacancy | −$6.0k | −$1.25 |
| EGI | $82.3k | $17.11 |
| − OpEx | −$37.0k | −$7.70 |
| NOI | $45.3k | $9.41 |
4,811 SF · lease $18.36/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$646.8K
$566.0K – $754.6K
NOI $45,278 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$933.8K – $1.25M
NOI $74,703 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit apartment building overlooking the new Meritus Baseball Park.
Where is this apartment building located?
The property is located at 165 SUMMIT Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 5‑unit apartment building; Overlooking the new $95MM Meritus Baseball Park; Ample parking in rear for tenants
