Multifamily Property with Renovation
For Sale
$270,000
1 CUMBERLAND St, Clear Spring, MD 21722
Multifamily property with immediate income and renovation opportunities.
Property SizeContact for details
Days on Market110
Property Features for 1 CUMBERLAND St
General Information
Standard status
Active
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,907
Building Details
Year Built
1920
Units
2
Listing Agency:
CHARIS REALTY GROUP
(301) 401-4300
Listed By:
Ronald E Wolfe · License #606538
(301) 401-4300
Source:
Elliman
Added: May 14
Changed: Aug 7
Last Checked: Aug 31 at 2:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CHARIS REALTY GROUP
Investment Insights
Based on property information with market context.
This multifamily property offers immediate cash flow with two apartments currently rented on a month-to-month basis. Apartment 1 features one bedroom and one bathroom, while Apartment 2 is a studio apartment. One tenant is vacating at the end of May. The basement area is currently rented for storage. The main level has some drywall and can be renovated for another apartment or commercial business. HVAC units for each floor, except the basement, are 5 years old, and the metal roof is 6 years old. The property has a bike score of 33, indicating it is somewhat bikeable, and a walk score of 39, suggesting car dependence.
Key Highlights
- Immediate cash flow from two existing rental apartments and basement storage rental.
- Opportunity to renovate the main level for an additional apartment or commercial business.
- Newer HVAC units (5 years old) for each floor except basement.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 21722, MD
5,674
Population
2,347
Households
2.4
Avg Household Size
44
Median Age
23%
College-Educated
93%
High-School Grad
56.9 sq mi
ZIP Area
100
Density / Sq Mi
$86,341
Median Household Income
$54,863
Median Earnings
$877
Median Rent
$298,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with immediate income and renovation opportunities.
Where is this multifamily property located?
The property is located at 1 CUMBERLAND St Clear Spring, MD.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Immediate cash flow from two existing rental apartments and basement storage rental.; Opportunity to renovate the main level for an additional apartment or commercial business.; Newer HVAC units (5 years old) for each floor except basement.
