325 Mitchell Ave Hagerstown, MD 21740

Property Details for 325 Mitchell Ave

Year built

1899

Property size

2,127 SF

Property type

Commercial real estate

Description

This well-maintained, two-unit apartment building presents a compelling investment opportunity in Hagerstown, Maryland. Located at 325 Mitchell Ave, this fee-simple property boasts 2,127 square feet of net rentable space, spread across two stories in a building constructed in 1899. The property is zoned R2 and classified as a Class C multifamily investment. Currently generating a stable monthly income of $2,680 from two occupied units, each unit commands a price of $167,500, with an overall asking price of $335,000 ($157.50 per square foot). The building features one pad and includes three garages at the rear, offering additional income potential. This stabilized investment is ideal for those seeking a consistent cash flow from a professionally managed property with long-term tenants. The property's location in Hagerstown, Washington County, Maryland (zip code 21740) provides convenient access to local amenities and transportation. This is a rare opportunity to acquire a well-performing multifamily property in a desirable location. The property's solid history and current occupancy make it an attractive investment for both seasoned and new investors. The three rear garages offer a unique opportunity to increase revenue streams beyond the existing rental income. This property is offered as a fee simple ownership.