Five-Unit Apartment
For Sale
$574,900
671 Highland Way, Hagerstown, MD 21740
Fully leased residential income property with annual and month-to-month tenancy arrangements.
Property Size6,202 SF
Price / SF$92.70
Days on Market28
Property Features for 671 Highland Way
General Information
Standard status
Active
Size
6,202 SF
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
New Rear steps being installed now
Additional Details
Cap Rate
9%
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
Real Estate Innovations
(301) 745-1500
Listed By:
Alice J Guy · License #80505
Source:
Tbhteam
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 30 at 8:31PM
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 Real Estate Innovations
Investment Insights
Based on property information with market context.
This 4,666-square-foot apartment building, constructed in 1900, contains five residential units that are fully rented. Four leases run annually, while one tenancy is month to month. Rear steps are currently being installed, adding a defined improvement to the property.
The building is within walking distance of Hagerstown City Park. The property is reported at a 9% cap rate and has remained under the same ownership for several years, providing an established operating history for review.
The building is within walking distance of Hagerstown City Park. The property is reported at a 9% cap rate and has remained under the same ownership for several years, providing an established operating history for review.
Key Highlights
- Five‑unit apartment building with all units currently rented
- 4,666 square feet; built in 1900
- 9% cap rate
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
412
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased residential income property with annual and month-to-month tenancy arrangements.
Where is this apartment building located?
The property is located at 671 Highland Way Hagerstown, MD.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Five‑unit apartment building with all units currently rented; 4,666 square feet; built in 1900; 9% cap rate
