Three-Unit Multifamily
For Sale
$279,000
106 Randolph Ave, Hagerstown, MD 21740
Fully occupied three-unit building offering three one-bedroom, one-bath apartments with in-place rental licensing documentation.
Property Size1,998 SF
Price / SF$139.64
Days on Market124
Property Features for 106 Randolph Ave
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
RG Realty, Inc.
Listed By:
Roberto G. Gonzalez · License #598229
(240) 203-6393
Source:
Localrealestateleaders
Added: Jun 4
Changed: Sep 24
Last Checked: Oct 4 at 2:10PM
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 RG Realty, Inc.
Investment Insights
Based on property information with market context.
106 Randolph Avenue is a fully occupied three-unit multifamily property configured as three identical one-bedroom, one-bath apartments. Each unit is currently rented, creating steady in-place occupancy. The property’s licensing documentation is in place, and the units have passed lead paint testing.
Located in Hagerstown, Maryland, the building is described as bikeable and very walkable, with some transit access based on the provided scores. The offering is positioned as a straightforward, easily managed small residential income property with a simple unit mix.
For investors and buyers looking for an immediately income-producing asset, the three-unit layout and consistent unit design are practical from a leasing and day-to-day management standpoint. The fact that the rental licensing paperwork is available and that lead paint testing has been completed can also help streamline due diligence and ongoing compliance. With all three units currently leased, the property may appeal to those who want to start with occupancy already established.
Located in Hagerstown, Maryland, the building is described as bikeable and very walkable, with some transit access based on the provided scores. The offering is positioned as a straightforward, easily managed small residential income property with a simple unit mix.
For investors and buyers looking for an immediately income-producing asset, the three-unit layout and consistent unit design are practical from a leasing and day-to-day management standpoint. The fact that the rental licensing paperwork is available and that lead paint testing has been completed can also help streamline due diligence and ongoing compliance. With all three units currently leased, the property may appeal to those who want to start with occupancy already established.
Key Highlights
- 3‑unit multifamily in Hagerstown with three fully occupied 1‑bedroom, 1‑bath apartments
- All units have passed lead paint testing
- Rental licensing documentation is in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,958
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,160
$419.2K
Cap Rate 7%
$299,400
$299.4K
Cap Rate 9%
$232,867
$232.9K
Market Conditions
NOI Build-Up for 1,998 SF
Gross rent
$32.4K $16.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$29.9K $14.99/SF
− OpEx
−$9.0K −$4.50/SF
NOI
$21.0K $10.49/SF
Area
Washington County, MD
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,160
Cap Rate 7%
$299,400
Cap Rate 9%
$232,867
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,958 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$268.6K
$235.1K – $313.4K
NOI $18,804 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,024 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 21740, MD
65,619
Population
27,002
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
86%
High-School Grad
70.9 sq mi
ZIP Area
926
Density / Sq Mi
$59,410
Median Household Income
$42,159
Median Earnings
$1,031
Median Rent
$241,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit building offering three one-bedroom, one-bath apartments with in-place rental licensing documentation.
Where is this triplex located?
The property is located at 106 Randolph Ave Hagerstown, MD.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 3‑unit multifamily in Hagerstown with three fully occupied 1‑bedroom, 1‑bath apartments; All units have passed lead paint testing; Rental licensing documentation is in place
