Five-Unit Brick Apartment
For Sale
$525,000
16 S MULBERRY Street, Hagerstown, MD 21740
Multi-Family, HAGERSTOWN, MD
Property Size4,316 SF
Lot Size0.17 Acres
Price / SF$121.64
Days on Market315
Property Features for 16 S MULBERRY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Alley, Off Street
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
4,316 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
5072
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1914
Number of units
4
Building materials
Brick
Architectural style
Colonial
Listing Agency:
RG Realty, Inc.
(240) 203-6393
Listed By:
Roberto G. Gonzalez · License #598229
(301) 991-0207
Added: Nov 24, 2025
Changed: Sep 16
Last Checked: Oct 5 at 7:06PM
MLS# MDWA2032918
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 4,316-square-foot apartment building contains five residential units, including four one-bedroom apartments and one two-bedroom unit with an office or den. The property is fully rented and includes off-street parking accessed from the alley. Unit interiors include living areas, kitchens, bedrooms, and bathrooms, with select layouts also providing dining areas or additional office space.
Built in 1914, the Colonial-style building features brick construction and hot water heating. The property occupies 0.17 acres at 16 S Mulberry Street in Hagerstown, Maryland, within ZIP code 21740. The combination of five units, existing occupancy, rear parking, and varied floor plans provides a clearly defined multifamily configuration.
Built in 1914, the Colonial-style building features brick construction and hot water heating. The property occupies 0.17 acres at 16 S Mulberry Street in Hagerstown, Maryland, within ZIP code 21740. The combination of five units, existing occupancy, rear parking, and varied floor plans provides a clearly defined multifamily configuration.
Key Highlights
- Five‑unit apartment building with four one‑bedroom units and one two‑bedroom unit with office or den
- 4,316 square feet on 0.17 acres
- Fully rented residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,619
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,380
$812.4K
Cap Rate 7%
$580,271
$580.3K
Cap Rate 9%
$451,322
$451.3K
Market Conditions
NOI Build-Up for 4,316 SF
Gross rent
$79.2K $18.36/SF
− Vacancy
−$5.4K −$1.25/SF
EGI
$73.9K $17.11/SF
− OpEx
−$33.2K −$7.70/SF
NOI
$40.6K $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%
$812,380
Cap Rate 7%
$580,271
Cap Rate 9%
$451,322
Alternative Uses
Best Use
Apartment 5plus
$580.3K
$507.7K – $677.0K
NOI $40,619 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$957.4K
$837.7K – $1.12M
NOI $67,017 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,052
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Fully rented property with off-street parking and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 16 S MULBERRY Street Hagerstown, MD.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Five‑unit apartment building with four one‑bedroom units and one two‑bedroom unit with office or den; 4,316 square feet on 0.17 acres; Fully rented residential property
