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Multifamily Investment Property in Frostburg

8 HILL St, Frostburg, MD 21532

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For Sale

$265,000

Six-unit property with cash flow and upside potential near university.

Type:Commercial

HighLights

Immediate cash flow from a 6‑unit multifamily property with 5 units occupied.
Significant upside potential to achieve a double‑digit cap rate through modest rent increases.
Month‑to‑month leases provide flexibility to reposition rents or renovate units.
All units are 2 bedrooms and 1 bathroom, a desirable layout for renters.
Located in Frostburg, home to Frostburg State University, ensuring consistent rental demand.
Very Walkable location with a walk score of 71.

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Listing Contact

Benjamin J Garner

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For Sale

$265,000

Six-unit property with cash flow and upside potential near university.

Type:Commercial

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 8:15 pm

Property Features for 8 HILL St

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1935

We can help!

Listing Contact

Benjamin J Garner

Listing agent Benjamin J Garner

Listing office Cummings & Co. Realtors

Listing date Apr 24, 2026

Source Elliman

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 Cummings & Co. Realtors

HighLights

Immediate cash flow from a 6‑unit multifamily property with 5 units occupied.
Significant upside potential to achieve a double‑digit cap rate through modest rent increases.
Month‑to‑month leases provide flexibility to reposition rents or renovate units.
All units are 2 bedrooms and 1 bathroom, a desirable layout for renters.
Located in Frostburg, home to Frostburg State University, ensuring consistent rental demand.
Very Walkable location with a walk score of 71.

Overview

This six-unit multifamily property presents an investment opportunity with immediate cash flow and potential for increased value. Each unit features two bedrooms and one bathroom. Currently, five of the six units are occupied. The existing month-to-month leases offer flexibility for a new owner to adjust rental rates or undertake renovations as units become available. The current rental rates are below market value, suggesting the potential to achieve a double-digit capitalization rate through moderate rent increases that align with prevailing market conditions. The property is situated in Frostburg, which is home to Frostburg State University, contributing to consistent rental demand in the area. This property is suited for investors looking for a multifamily asset with stable occupancy and opportunities for growth. Showings are available by appointment only, and tenants should not be disturbed.

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Local Demand

City: Frostburg
County: Allegany
State: Maryland
Longitude: -78.9247431
Latitude: 39.6518618

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What type of property is this?

Apartment building - Six-unit property with cash flow and upside potential near university.

Where is this apartment building located?

The property is located at 8 HILL St Frostburg, MD.

What is the asking price?

The asking price for this property is $265,000.

What are key features of this property?

This property features: Immediate cash flow from a 6‑unit multifamily property with 5 units occupied.; Significant upside potential to achieve a double‑digit cap rate through modest rent increases.; Month‑to‑month leases provide flexibility to reposition rents or renovate units.