Fully Occupied Triplex Near City
For Sale
$384,900
428 VIRGINIA AVE, Hagerstown, MD 21740
All-brick triplex across from Hagerstown City Park.
Property Size2,904 SF
Price / SF$132.54
Days on Market188
Property Features for 428 VIRGINIA AVE
General Information
Standard status
Active
Size
2,904 SF
Property subtype
Multi-Family
Listing Agency:
Samson Properties
(301) 739-4800
Listed By:
Steven L Powell · License #526751
(301) 991-7990
Source:
Sandrasellstheshore
Added: Apr 11
Changed: Oct 7
Last Checked: Oct 14 at 10:36PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This fully tenant-occupied, all-brick triplex is situated directly across from Hagerstown City Park. Each unit features spacious, light-filled rooms and hardwood flooring. The first-floor unit includes a fireplace. Tenants have access to a large front porch with park views, a private rear porch, a garden-style tub, and off-street parking with rear alley access. Tenants are responsible for their own heating and utilities. The property has been updated to meet current city code standards. Located three blocks from the new multi-sports stadium currently under construction, this property is positioned to benefit from growth in the surrounding area. The property is located in a bikeable area with a score of 67, and a walker's paradise with a score of 91. The transit score is 30, indicating some transit options are available. This property offers potential for expanding a portfolio or as an income-producing asset.
Key Highlights
- Prime Location: Directly across from Hagerstown City Park, offering scenic views and recreational opportunities.
- Fully Occupied: Provides immediate rental income and investment stability with existing tenants.
- All‑Brick Construction: Durable and low‑maintenance exterior.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,462
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,240
$609.2K
Cap Rate 7%
$435,171
$435.2K
Cap Rate 9%
$338,467
$338.5K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$47.0K $16.20/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$43.5K $14.99/SF
− OpEx
−$13.1K −$4.50/SF
NOI
$30.5K $10.49/SF
Area
Washington County, MD
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,240
Cap Rate 7%
$435,171
Cap Rate 9%
$338,467
Alternative Uses
Best Use
Multifamily LT 5
$435.2K
$380.8K – $507.7K
NOI $30,462 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,331 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$644.2K
$563.7K – $751.5K
NOI $45,092 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 21740, MD
65,619
Population
27,002
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
86%
High-School Grad
70.9 sq mi
ZIP Area
926
Density / Sq Mi
$59,410
Median Household Income
$42,159
Median Earnings
$1,031
Median Rent
$241,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - All-brick triplex across from Hagerstown City Park.
Where is this triplex located?
The property is located at 428 VIRGINIA AVE Hagerstown, MD.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Prime Location: Directly across from Hagerstown City Park, offering scenic views and recreational opportunities.; Fully Occupied: Provides immediate rental income and investment stability with existing tenants.; All‑Brick Construction: Durable and low‑maintenance exterior.
