Turnkey 4-Unit Residential
For Sale
$699,999
24 HAMILTON Avenue, Frederick, MD 21701
MULTI_FAMILY - FREDERICK, MD
Property Size2,420 SF
Lot Size0.18 Acres
Price / SF$289.26
Days on Market92
Property Features for 24 HAMILTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Driveway, On Street
Elementary school district
FREDERICK COUNTY PUBLIC SCHOOLS
Middle school district
FREDERICK COUNTY PUBLIC SCHOOLS
High school district
FREDERICK COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,420 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
8747
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1910
Number of units
4
Building materials
Block
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(443) 660-9229
Listed By:
William Bowman · License #665647
(443) 745-2155
Added: Apr 30
Changed: Jul 9
Last Checked: Jul 30 at 11:06PM
MLS# MDFR2079726
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.
Turnkey 4-unit residential property offered as a certified lead-free setup, just outside downtown Frederick. The building contains four separate one-bedroom, one-bath units. A coin-operated washer and dryer are located in the basement for shared resident use. Per the seller, one unit can be delivered vacant if the purchaser wants to occupy it.
The property is located at 24 Hamilton Avenue in Frederick, Maryland, on a 0.1802-acre lot. The site is zoned for Downtown residential, which the seller notes may allow the opportunity to potentially add additional units because the lot is large enough to accommodate additional parking.
For tenants, buyers, or operators seeking a small-scale income property with straightforward unit mix, this configuration offers four independently leased one-bedroom homes. The seller reports total monthly income of $5,485. The remarks also indicate an assumable FHA loan at 2.25% is available, subject to lender approval. Please contact the listing agent for additional details on financing and any lead-free certification documentation.
The property is located at 24 Hamilton Avenue in Frederick, Maryland, on a 0.1802-acre lot. The site is zoned for Downtown residential, which the seller notes may allow the opportunity to potentially add additional units because the lot is large enough to accommodate additional parking.
For tenants, buyers, or operators seeking a small-scale income property with straightforward unit mix, this configuration offers four independently leased one-bedroom homes. The seller reports total monthly income of $5,485. The remarks also indicate an assumable FHA loan at 2.25% is available, subject to lender approval. Please contact the listing agent for additional details on financing and any lead-free certification documentation.
Key Highlights
- 4‑unit property with 1 bed, 1 bath in each unit
- Total monthly income of $5,485
- Assumable FHA loan at 2.25% available; contact listing agent for details
Financial Insights For Multifamily LT 5
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 | $53.7k | $22.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $51.2k | $21.15 |
| − OpEx | −$15.4k | −$6.34 |
| NOI | $35.8k | $14.80 |
2,420 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.8K – $597.0K
NOI $35,820 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$470.4K
$411.6K – $548.8K
NOI $32,926 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$896.7K
$784.6K – $1.05M
NOI $62,771 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Certified lead-free four one-bedroom units with coin-operated laundry and potential vacancy flexibility for owner-occupants.
Where is this quadplex located?
The property is located at 24 HAMILTON Avenue Frederick, MD.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 4‑unit property with 1 bed, 1 bath in each unit; Total monthly income of $5,485; Assumable FHA loan at 2.25% available; contact listing agent for details
