Renovated Apartment Building For
453 W Antietam St, Hagerstown, MD 21740
For Sale
$1,850,000
Recently renovated 14-unit apartment building with major capital improvements.
Property Size12,240 SF
Price / SF$151.14
Days on Market205
Property Features for 453 W Antietam St
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
RG Realty, Inc.
Listed By:
Roberto G. Gonzalez · License MD #598229
(301) 991-0207
Source:
Premierehomegroup
Added: Apr 24
Changed: Nov 2
Last Checked: Nov 12 at 2:46PM
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.
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Investment Insights
Based on property information with market context.
This recently renovated 14-unit apartment building has undergone major capital improvements. Approximately 90% of the electrical service and plumbing systems have been replaced. The property features a new roof, new flooring throughout, and fully updated kitchens. Each unit is equipped with new mini split heating and air conditioning systems. The building is now entering stabilization with two vacant units, offering an opportunity to increase rental income. The property is currently generating $14,650 in monthly rental income. The bike score is 59, making it bikeable. The walk score is 80, indicating it is very walkable. The transit score is 28, suggesting some transit options are available.
Key Highlights
- Recently renovated with new roof, flooring, and updated kitchens.
- Approximately 90% of electrical and plumbing systems replaced.
- New mini‑split heating and air conditioning systems in each unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,195
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,303,900
$2.3M
Cap Rate 7%
$1,645,643
$1.6M
Cap Rate 9%
$1,279,944
$1.3M
Market Conditions
NOI Build-Up for 12,240 SF
Gross rent
$224.7K $18.36/SF
− Vacancy
−$15.3K −$1.25/SF
EGI
$209.4K $17.11/SF
− OpEx
−$94.3K −$7.70/SF
NOI
$115.2K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,303,900
Cap Rate 7%
$1,645,643
Cap Rate 9%
$1,279,944
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,195 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,057 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
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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
$241,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Hagerstown, MD
Properties on Market for Apartment buildings in Hagerstown
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently renovated 14-unit apartment building with major capital improvements.
Where is this apartment building located?
The property is located at 453 W Antietam St Hagerstown, MD.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Recently renovated with new roof, flooring, and updated kitchens.; Approximately 90% of electrical and plumbing systems replaced.; New mini‑split heating and air conditioning systems in each unit.
