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    505 Church St Hagerstown, MD 21740

    Sponsored
    For Sale
    $675,000

    Six-unit apartment building, 100% occupied.

    Property size:
    3,556 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a six-unit apartment building located at 505 W Church St, Hagerstown, MD 21740. The property, a stabilized investment, boasts a total of 3,556 square feet of net rentable space, distributed across six spacious units, each approximately 700 square feet. Currently generating over $6,650 in monthly rental income, this fully occupied building offers significant potential for increased revenue by adjusting rents to market rates. Built in 1905, the two-story, all-brick structure sits on a 2,200 square foot lot and is zoned RMED. The building features separate electric meters for each unit, simplifying utility management and making tenants responsible for their respective costs. Recent upgrades include new replacement windows, enhancing energy efficiency and reducing maintenance expenses. The property's prime location within a thriving mixed-use neighborhood near downtown Hagerstown's arts and entertainment district ensures strong rental demand and long-term stability. This turnkey property, with its durable brick and masonry construction, presents a low-maintenance, high-potential investment opportunity for discerning buyers. The asking price is $675,000, and the property is offered fee simple. APN is 1322. An additional six-unit property from the same seller is available, presenting a unique opportunity to expand your investment portfolio in this high-demand area.

    Property Features for 505 Church St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,556 SF
    Class
    C

    Building Details

    Year Built
    1905
    Buildings
    1
    Stories
    2
    Units
    6

    HighLights

    • Six‑unit apartment building, 3,556 sq ft, Hagerstown, MD. Currently generating over $6,650 monthly rental income.
    • All‑brick construction, built in 1905, situated on a 2,200 sq ft lot, RMED zoning.
    • Separate electric meters for each unit.
    • New replacement windows installed.
    • Asking price: $675,000, fee simple, APN 1322.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.726696375398
    Latitude
    39.648614986978

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, 100% occupied.
    Where is this multifamily property located?
    The property is located at 505 Church St Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Six-unit apartment building, 3,556 sq ft, Hagerstown, MD. Currently generating over $6,650 monthly rental income.; All-brick construction, built in 1905, situated on a 2,200 sq ft lot, RMED zoning.; Separate electric meters for each unit.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    505 Church St Hagerstown, MD 21740
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