Colonial Apartment
For Sale
$419,900
838 Hamilton Boulevard, Hagerstown, MD 21742
Well-maintained multifamily property with separate gas and electric metering and fully leased units.
Property Size1,626 SF
Price / SF$258.24
Days on Market85
Property Features for 838 Hamilton Boulevard
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
laundry
Building Details
Year Built
1913
Construction
Colonial
Listing Agency:
Mackintosh , Inc.
Listed By:
Brian Richards, Charnita Richards
Source:
Localrealestateleaders
Added: Jul 25
Changed: Oct 11
Last Checked: Oct 7 at 3:39PM
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 Mackintosh , Inc.
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Investment Insights
Based on property information with market context.
This Colonial duplex in Hagerstown includes two residential sides offered together. Built in 1913, the property is described as well maintained and is fully rented. Separate gas meters serve the two sides, while each unit has its own electric meter.
The property is located at 838 Hamilton Boulevard in Hagerstown, Maryland. The source information also identifies shared heat and laundry within one portion of the property. Unit details are not summarized here because the reported unit count and configuration are inconsistent.
The property is located at 838 Hamilton Boulevard in Hagerstown, Maryland. The source information also identifies shared heat and laundry within one portion of the property. Unit details are not summarized here because the reported unit count and configuration are inconsistent.
Key Highlights
- Colonial duplex built in 1913
- Both residential sides offered together
- All units are fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,303
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,060
$306.1K
Cap Rate 7%
$218,614
$218.6K
Cap Rate 9%
$170,033
$170.0K
Market Conditions
NOI Build-Up for 1,626 SF
Gross rent
$29.9K $18.36/SF
− Vacancy
−$2.0K −$1.25/SF
EGI
$27.8K $17.11/SF
− OpEx
−$12.5K −$7.70/SF
NOI
$15.3K $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%
$306,060
Cap Rate 7%
$218,614
Cap Rate 9%
$170,033
Alternative Uses
Best Use
Apartment 5plus
$218.6K
$191.3K – $255.1K
NOI $15,303 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.7K
$315.6K – $420.8K
NOI $25,248 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 21742, MD
33,069
Population
14,099
Households
2.3
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
46.5 sq mi
ZIP Area
711
Density / Sq Mi
$80,533
Median Household Income
$45,717
Median Earnings
$1,267
Median Rent
$280,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with separate gas and electric metering and fully leased units.
Where is this apartment building located?
The property is located at 838 Hamilton Boulevard Hagerstown, MD.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Colonial duplex built in 1913; Both residential sides offered together; All units are fully rented
