Three-Unit Multifamily
16307 GOLD RUN Road SW, Lonaconing, MD 21539
For Sale
$230,000
Multi-Family, LONACONING, MD
Property Size2,128 SF
Lot Size0.37 Acres
Price / SF$108.08
Days on Market119
Property Features for 16307 GOLD RUN Road SW
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Amenities
dedicated laundry
central air conditioning
Building Details
Year built
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
Coldwell Banker Premier · Coldwell Banker Real Estate
(301) 777-3380
Listed By:
Nadine Beechie · License #660736
(301) 697-5463
Added: Jul 13
Changed: Nov 4
Last Checked: Nov 8 at 7:06AM
MLS# MDAL2014492
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.
Built in 2001, this 2,128-square-foot triplex contains three residences on a 0.37-acre parcel. The apartments include a two-bedroom, one-bath unit, a one-bedroom, one-bath unit, and a three-bedroom, one-bath unit. Each has a full kitchen, living area, and entry-level laundry. Appliance packages are included in the two smaller units; the three-bedroom unit’s appliances are not included. One apartment is vacant. The basement, accessed through a garage door, has been used for storage and is not tenant space.
The building has separate water and electric meters for each unit, a heat pump, and central air conditioning. Public sewer serves the property, and water is available through the public system or a backup well. Parking is available at the front and along the upper side of the home; the garage is not used for vehicle parking. Dan’s Mountain State Park is approximately one-half mile away.
The building has separate water and electric meters for each unit, a heat pump, and central air conditioning. Public sewer serves the property, and water is available through the public system or a backup well. Parking is available at the front and along the upper side of the home; the garage is not used for vehicle parking. Dan’s Mountain State Park is approximately one-half mile away.
Key Highlights
- Three apartments totaling 2,128 square feet on a 0.37‑acre lot
- Unit mix: 2‑bedroom, 1‑bath; 1‑bedroom, 1‑bath; and 3‑bedroom, 1‑bath
- One apartment is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,404
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,080
$288.1K
Cap Rate 7%
$205,771
$205.8K
Cap Rate 9%
$160,044
$160.0K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$21.7K $10.20/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$20.6K $9.67/SF
− OpEx
−$6.2K −$2.90/SF
NOI
$14.4K $6.77/SF
Area
Allegany County, MD
Vacancy
5.20%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,080
Cap Rate 7%
$205,771
Cap Rate 9%
$160,044
Alternative Uses
Best Use
Multifamily LT 5
$205.8K
$180.1K – $240.1K
NOI $14,404 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$190.6K
$166.8K – $222.4K
NOI $13,343 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$789.2K
$690.5K – $920.7K
NOI $55,242 @ 7.0% cap · market cap 24.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 21539, MD
2,536
Population
1,074
Households
2.4
Avg Household Size
44
Median Age
18%
College-Educated
90%
High-School Grad
37.1 sq mi
ZIP Area
68
Density / Sq Mi
$51,667
Median Household Income
$36,065
Median Earnings
$822
Median Rent
$108,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Separate water and electric meters serve each residence, with central air conditioning and heat-pump service.
Where is this triplex located?
The property is located at 16307 GOLD RUN Road SW Lonaconing, MD.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Three apartments totaling 2,128 square feet on a 0.37‑acre lot; Unit mix: 2‑bedroom, 1‑bath; 1‑bedroom, 1‑bath; and 3‑bedroom, 1‑bath; One apartment is vacant
