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    311 Summit Ave, Unit HAGERSTOWN Hagerstown, MD 21740

    For Sale
    $599,900

    Six-unit apartment building near City Park, generating positive cash flow.

    Lot size:
    0.15 Acres

    Property Features for 311 Summit Ave

    General Information

    Standard status
    Active
    Lot size
    0.15 Acres

    Building Details

    Year built
    1915

    Source: REAL ESTATE TODAY Agent TOBY W WANTZ

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hagerstown Multifamily Investment Opportunity

    This well-maintained six-unit apartment building presents a positive cash flow investment opportunity. The property is conveniently located near City Park, Meritus Park, the University of Maryland Hagerstown Campus, Barbara Ingram School of the Arts, and the Maryland Theatre, as well as various restaurants. The building is fully occupied and generates approximately $4,700 per month in income. Each unit features one bedroom and one bathroom. The property includes a large backyard and a detached garage. The building is heated by natural gas radiant heat. The owner is also selling a separate five-unit property at 419 Summit Ave.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7273987
    Latitude
    39.6378596

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    FAQs

    What type of property is this?
    Apartment building - Six-unit apartment building near City Park, generating positive cash flow.
    Where is this apartment building located?
    The property is located at 311 Summit Ave, Unit HAGERSTOWN Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: - Positive cash flow investment opportunity with fully occupied 6-unit building.; - Generates approximately $4,700 per month in income.; - Convenient location near City Park, University of Maryland Hagerstown Campus, and other amenities.
    (301) 791-9046
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    311 Summit Ave, Unit HAGERSTOWN Hagerstown, MD 21740
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