Three-Story 7-Unit Apartment
16 Wayside Avenue Hagerstown, MD 21740
16 Wayside Avenue, Hagerstown, MD, 21740
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For Sale
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Three-story, 7-unit income property with two 2-bedroom units and five 1-bedroom units.
Property Size4,614 SF
Price / SF$172.08
Days on Market98
Property Features for 16 Wayside Avenue
General Information
- Standard status
- Active
- Size
- 4,614 SF
- Property subtype
- Multifamily
Listing agency
Berkshire Hathaway HomeService Homesale
(301) 346-3664
Listed by
Taylor Bowen · License #PA ABR005534
Source
Crexi
Added: Apr 16 Updated: Jul 21 at 5:23AM Checked: Jul 21 at 5:23AM
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 Berkshire Hathaway HomeService Homesale
Investment Insights
Based on property information with market context.
This three-story apartment building offers 7 rental units with a mix of two 2-bedroom units and five 1-bedroom units, providing a straightforward configuration for residential income. The property is positioned as an investment opportunity with an established unit count and bedroom variety within the same building.
The property is located close to major commuter routes and everyday conveniences, with access to shopping in the surrounding area. This combination can support tenant needs for both commuting and daily errands.
Overall, the building’s unit mix is clearly defined, with 1- and 2-bedroom layouts making up the full 7-unit offering.
The property is located close to major commuter routes and everyday conveniences, with access to shopping in the surrounding area. This combination can support tenant needs for both commuting and daily errands.
Overall, the building’s unit mix is clearly defined, with 1- and 2-bedroom layouts making up the full 7-unit offering.
Key Highlights
- Three‑story 7‑unit income property
- Unit mix includes two 2‑bedroom units and five 1‑bedroom units
- Close to major commuter routes, shopping, and everyday conveniences
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.7k | $18.36 |
| − Vacancy | −$5.8k | −$1.25 |
| EGI | $79.0k | $17.11 |
| − OpEx | −$35.5k | −$7.70 |
| NOI | $43.4k | $9.41 |
4,614 SF · lease $18.36/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$620.3K
$542.8K – $723.7K
NOI $43,424 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$895.6K – $1.19M
NOI $71,644 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Three-story, 7-unit income property with two 2-bedroom units and five 1-bedroom units.
Where is this apartment building located?
The property is located at 16 Wayside Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $794,000.
What are key features of this property?
This property features: Three‑story 7‑unit income property; Unit mix includes two 2‑bedroom units and five 1‑bedroom units; Close to major commuter routes, shopping, and everyday conveniences
