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Hagerstown Triplex: Income-Generating Property

616 W Franklin St, Hagerstown, MD 21740

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For Sale

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Fully rented triplex in Hagerstown, generating $3,175 monthly income.

Type:Multifamily

Property size:

2,715 SF

Price / SF:

$125/SF

HighLights

Fully rented triplex generating $3,175 per month ($38,100 annually) in gross rental income.
Solid brick construction offering durability.
Each unit is separately metered for electric, with tenants responsible for utilities.
All three units are two‑bedroom, one‑bath layouts with private parking.
Located in an established area of Hagerstown, close to I‑70, I‑81, and downtown amenities.
Stable cash flow from day one with proven performance.

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Contact an agent

Roberto Gonzalez

For Sale

Contact for pricing

Fully rented triplex in Hagerstown, generating $3,175 monthly income.

Type:Multifamily

Property size:

2,715 SF

Price / SF:

$125/SF

Added:: Oct 2, 2025
Days on Market:: 278
Last Refresh:: Mar 16 at 1:27 pm

Property Features for 616 W Franklin St

General Information

Standard status: Active
Size: 2,715 SF
Property subtype: Multifamily

Building Details

Year Built: 1895

We can help!

Contact an agent

Roberto Gonzalez

Listing office RG Realty Inc

Listing date Oct 2, 2025

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

Fully rented triplex generating $3,175 per month ($38,100 annually) in gross rental income.
Solid brick construction offering durability.
Each unit is separately metered for electric, with tenants responsible for utilities.
All three units are two‑bedroom, one‑bath layouts with private parking.
Located in an established area of Hagerstown, close to I‑70, I‑81, and downtown amenities.
Stable cash flow from day one with proven performance.

Overview

Located at 616 W Franklin Street in Hagerstown, this solid brick three-unit property offers immediate and stable cash flow. The fully rented triplex generates $3,175 per month in gross rental income, totaling $38,100 annually. Each of the three units features two bedrooms and one bath, along with private parking. Each unit is separately metered for electric and equipped with baseboard heating. The building's durable construction, practical layouts, and long-term rental appeal are situated in an established area of Hagerstown, with close proximity to I-70, I-81, and downtown amenities. This stabilized multifamily property with separate utilities is in strong demand in Washington County, making it a straightforward income-producing asset with proven performance. The property size is 2715 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$44.0k	$16.20
− Vacancy	−$3.3k	−$1.22
EGI	$40.7k	$14.99
− OpEx	−$12.2k	−$4.50
NOI	$28.5k	$10.49

2,715 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$406.8K

$356.0K – $474.7K (±1% cap)

NOI $28,479 @ 7.0% cap · market cap 8.38%

Second Best

Apartment 5plus

$365.0K

$319.4K – $425.9K (±1% cap)

NOI $25,552 @ 7.0% cap · market cap 7.52%

Theoretical Best

Office A

$602.2K

$527.0K – $702.6K (±1% cap)

NOI $42,157 @ 7.0% cap · market cap 12.40%

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

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Hagerstown
County: Washington
State: Maryland
Longitude: -77.7292463
Latitude: 39.6483509

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For sale
Triplexes
MD
Hagerstown
21740
616 W Franklin St

What type of property is this?

Triplex - Fully rented triplex in Hagerstown, generating $3,175 monthly income.

Where is this triplex located?

The property is located at 616 W Franklin St Hagerstown, MD.

What is the asking price?

The asking price for this property is $339,900.

What are key features of this property?

This property features: Fully rented triplex generating $3,175 per month ($38,100 annually) in gross rental income.; Solid brick construction offering durability.; Each unit is separately metered for electric, with tenants responsible for utilities.