17-Unit Multifamily
15149 BLOYERS Avenue, Hagerstown, MD 21740
For Sale
$2,700,000
Multi-Family, HAGERSTOWN, MD
Property Size9,859 SF
Lot Size2.72 Acres
Price / SF$273.86
Days on Market48
Property Features for 15149 BLOYERS Avenue
General Information
Property type
Property subtype
Parking features
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Listing Agency:
RG Realty, Inc.
(240) 203-6393
Listed By:
Krystal Stewart · License MD #679847
(813) 323-0463
Added: Sep 24
Changed: Oct 19
Last Checked: Nov 10 at 10:06AM
MLS# MDWA2040394
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.
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Investment Insights
Based on property information with market context.
The 9,859-square-foot multifamily property spans 2.72 acres and comprises four buildings with 17 units: eight two-bedroom apartments, eight one-bedroom apartments, and one four-bedroom single-family home. All units are leased. Improvements include metal roofs with a 30-year warranty, updated interiors and kitchens, a new septic system, and a paved parking lot. The property also has lead-free certification and professional management.
Interior updates include LED recessed lighting, waterproof laminate flooring, revised trim, and redesigned kitchens with upgraded cabinetry and countertops; select kitchens have stainless-steel appliances. Heating is electric baseboard, and cooling is provided by window units. The property is in Washington County, outside city limits.
Interior updates include LED recessed lighting, waterproof laminate flooring, revised trim, and redesigned kitchens with upgraded cabinetry and countertops; select kitchens have stainless-steel appliances. Heating is electric baseboard, and cooling is provided by window units. The property is in Washington County, outside city limits.
Key Highlights
- 17 units across four buildings: eight two‑bedroom units, eight one‑bedroom units, and one four‑bedroom single‑family home
- 9,859 square feet on 2.72 acres
- All units are leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,786
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,855,720
$1.9M
Cap Rate 7%
$1,325,514
$1.3M
Cap Rate 9%
$1,030,956
$1.0M
Market Conditions
NOI Build-Up for 9,859 SF
Gross rent
$181.0K $18.36/SF
− Vacancy
−$12.3K −$1.25/SF
EGI
$168.7K $17.11/SF
− OpEx
−$75.9K −$7.70/SF
NOI
$92.8K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,855,720
Cap Rate 7%
$1,325,514
Cap Rate 9%
$1,030,956
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,786 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,086 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
17
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
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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
$241,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Hagerstown, MD
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four buildings contain a fully leased mix of apartments and a single-family home.
Where is this apartment building located?
The property is located at 15149 BLOYERS Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 17 units across four buildings: eight two‑bedroom units, eight one‑bedroom units, and one four‑bedroom single‑family home; 9,859 square feet on 2.72 acres; All units are leased
