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    20960 Maryland Hwy Bloomington, MD 21523

    For Sale
    $389,900

    13-unit apartment complex, 1.25 acres, prime location.

    Property size:
    8,352 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional investment opportunity presents a 13-unit apartment complex situated on a spacious 1.25-acre lot in the desirable Sheppards Park Subdivision of Bloomington, Maryland. Built in 1965, this all-brick property offers a mix of 11 two-bedroom, one-bathroom apartments and two efficiency units, catering to a diverse range of tenants. The complex boasts ample private parking, a significant advantage for residents and visitors. Located in Garrett County, just west of the Allegany County border, this property benefits from its proximity to the thriving McHenry-Deep Creek Lake area, a region known for its four-season appeal. A mere 25-minute drive from Deep Creek Lake, the complex enjoys the economic advantages of this popular recreational destination. The nearby Wisp Ski Resort provides substantial winter employment, while the lake itself draws numerous visitors during the summer months. Convenient access to Route 219 and its connection to Interstate-68 ensures easy travel north and south, and east and west. The property's strategic location also offers easy access to major urban centers, including Baltimore/Washington (two hours east), Morgantown, West Virginia (one hour west), and Pittsburgh, Pennsylvania (two hours north). With a total of 8,352 square feet, this property represents a substantial investment in a sought-after location, offering both recreational appeal and convenient access to major transportation arteries. The property sits on a single tax parcel.

    Property Features for 20960 Maryland Hwy

    General Information

    Property type
    Residential income properties
    Square Feet
    8,352 SF
    Lot Size
    54,450 SF

    Building Details

    Year Built
    1965
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bloomington Apartments Apartment Building

    Suggested Use

    Auto Repair Shop Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Garrett
    State
    Maryland
    Longitude
    -79.07651
    Latitude
    39.47483

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    FAQs

    What type of property is this?
    Residential income property - 13-unit apartment complex, 1.25 acres, prime location.
    Where is this residential income property located?
    The property is located at 20960 Maryland Hwy Bloomington, MD.
    What is the asking price?
    The asking price for this property is $389,900.
    (240) 203-6393
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    20960 Maryland Hwy Bloomington, MD 21523
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    Bloomington, MD 21523
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20960 Maryland Hwy Bloomington, MD 21523
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