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    Hagerstown Triplex: Investment Opportunity

    428 VIRGINIA Avenue Hagerstown, MD 21740

    428 VIRGINIA Avenue, Hagerstown, MD, 21740
    $384,900
    For Sale
    Claim this Listing
    $384,900

    MULTI_FAMILY - Colonial - HAGERSTOWN, MD

    Property Size2,904 SF
    Lot Size0.17 Acres
    Price / SF$132.54
    AddedApr 10
    Days on Market97
    Last RefreshJul 15 at 10:06 pm

    Property Features for 428 VIRGINIA Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Alley
    Standard status
    Active
    Size
    2,904 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4614

    Utilities

    Heating system
    Other (Heating)
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Colonial

    Listing agent Steven L Powell License #526751

    Listing office Samson Properties 222 E Oak Ridge Drive unit: 2000, Chantilly, MD

    Listing date Apr 10, 2026

    MLS# MDWA2034868 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 fully tenant-occupied, all-brick triplex is situated across from Hagerstown City Park. Each unit features spacious, light-filled rooms and hardwood flooring. The first-floor unit includes a fireplace. Tenants have access to a large front porch with park views, a private rear porch, a garden-style tub, and off-street parking with rear alley access. Tenants are responsible for their own heating and utilities. The property has been updated to meet current city code standards. Located three blocks from the new multi-sports stadium currently under construction, this property is positioned to benefit from growth and revitalization. The property size is 2904 square feet, situated on a 0.165-acre lot.

    Key Highlights

    • Fully occupied 3‑unit brick property provides immediate rental income.
    • Prime location directly across from Hagerstown City Park offers desirable views and access to recreation.
    • Proximity to the new multi‑sports stadium (3 blocks away) promises future growth and increased property value.

    Local Financial Insights For Multifamily LT 5

    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 $47.0k $16.20
    − Vacancy −$3.5k −$1.22
    EGI $43.5k $14.99
    − OpEx −$13.1k −$4.50
    NOI $30.5k $10.49
    2,904 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $435.2K
    $380.8K – $507.7K (±1% cap)
    NOI $30,462 @ 7.0% cap · market cap 7.91%
    Second Best
    Apartment 5plus
    $390.4K
    $341.6K – $455.5K (±1% cap)
    NOI $27,331 @ 7.0% cap · market cap 7.10%
    Theoretical Best
    Office A
    $644.2K
    $563.7K – $751.5K (±1% cap)
    NOI $45,092 @ 7.0% cap · market cap 11.72%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Dental Office (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Pet Grooming Service Florist Locksmith Pet Store Tanning Salon

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Triplex - Fully occupied triplex across from Hagerstown City Park.
    Where is this triplex located?
    The property is located at 428 VIRGINIA Avenue Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $384,900.
    What are key features of this property?
    This property features: Fully occupied 3‑unit brick property provides immediate rental income.; Prime location directly across from Hagerstown City Park offers desirable views and access to recreation.; Proximity to the new multi‑sports stadium (3 blocks away) promises future growth and increased property value.
    Contact an agent
    (301) 991-7990
    We can help!
    Contact an agent
    Steven L Powell
    Steven L Powell
    Real Estate License ID: 526751
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