Downtown Multifamily Investment
220-226 Summit Ave, Hagerstown, MD 21740
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Two adjoining apartment buildings with 20 units in downtown Hagerstown.
Type:Multifamily
Property size:
7,080 SFPrice / SF:
$298/SF- Added:
- Feb 23, 2026
- Days on Market:
- 87
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 220-226 Summit Ave
General Information
- Standard status
- Active
- Size
- 7,080 SF
- Property subtype
- Multifamily
Listing agent Roberto Gonzalez License #MD 598229
Listing office RG Realty Inc (240) 203-6393
Listing date Feb 23, 2026
Source Crexi
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
HighLights
- Twenty total units plus a detached three‑bay garage, offering substantial rental income potential.
- Recent substantial capital improvements, including new PTAC units, plumbing and electrical upgrades, basement waterproofing, and remodeled interiors, reducing near‑term capital expenditure needs.
- Located in downtown Hagerstown, providing proximity to employment, education, public transportation, and revitalization initiatives.
- Mix of one‑bedroom and studio units, a desirable unit mix for the downtown rental market.
- Two adjoining buildings forming a cohesive residential complex, allowing for operational efficiency and streamlined management.
- Stabilized, income‑producing multifamily opportunity with durable cash flow.
Overview
This multifamily assemblage consists of two adjoining apartment buildings at 220–222 and 224–226 Summit Avenue in downtown Hagerstown. Together, the properties form a cohesive residential complex with a total of twenty units, plus a detached three bay garage structure at the rear. The buildings are improved with a mix of one bedroom one bath apartments and studio units, offering a desirable unit mix for the downtown rental market. The improvements include two and three story brick and masonry structures situated on a combined urban parcel with frontage along Summit Avenue and Hood Street. The 220–222 Summit Avenue building contains eight apartment units, consisting primarily of one bedroom layouts along with studio apartments, and is complemented by a separate garage building providing additional rental income. The adjoining 224–226 Summit Avenue building contains twelve studio apartment units, allowing for operational efficiency and scale across the combined properties. Both buildings have undergone substantial capital improvements in recent years, including basement waterproofing with commercial grade dehumidification, plumbing and electrical upgrades, replacement and repair of fire escapes, new flooring, updated paint throughout, and the installation of new PTAC heating and cooling units in the apartments. Constructed in the early 1900s, the building reflects durable construction typical of the area. Ownership has completed recent capital improvements, including new PTAC units, plumbing upgrades, updated water service, remodeled unit interiors, and common-area enhancements. The properties are zoned Residential Medium Density under City of Hagerstown zoning, a designation that supports multifamily use and aligns with the existing improvements. Located within the downtown City Center area, the properties benefit from proximity to employment, education, public transportation, and ongoing revitalization initiatives throughout downtown Hagerstown. The property size is 7080 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Hagerstown
- County
- Washington
- State
- Maryland
- Longitude
- -77.7256288
- Latitude
- 39.639063
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FAQs
What type of property is this?
Apartment building - Two adjoining apartment buildings with 20 units in downtown Hagerstown.
Where is this apartment building located?
The property is located at 220-226 Summit Ave Hagerstown, MD.
What is the asking price?
The asking price for this property is $2,110,000.
What are key features of this property?
This property features: Twenty total units plus a detached three‑bay garage, offering substantial rental income potential.; Recent substantial capital improvements, including new PTAC units, plumbing and electrical upgrades, basement waterproofing, and remodeled interiors, reducing near‑term capital expenditure needs.; Located in downtown Hagerstown, providing proximity to employment, education, public transportation, and revitalization initiatives.
