219-225 Brown St Fruitland, MD 21826
- Apartment buildings
- 4,320 SF
- 0.48 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 219-225 Brown St
- Year built
- 2010
- Lot size
- 0.48 lot acres
- Property size
- 4,320 SF
- Property type
- Apartment buildings
Description
Exceptional investment opportunity awaits in Fruitland, Maryland, a thriving community just south of Salisbury. This well-maintained, four-unit apartment building, constructed in 2010, presents a turnkey investment with a compelling 7.12% cap rate and a current NOI of $71,170.40. Boasting 4,320 square feet across four units, each priced at $250,000, the property enjoys 100% occupancy, minimizing vacancy concerns. The building's design features three primary suites, each with a private bath, making them highly desirable rental units. The property's location within Wicomico County, zoned R-3, ensures future flexibility. The low-maintenance aspect is further enhanced by the HOA's provision of lawn care, and tenant responsibilities for property upkeep. This investment offers a strong and consistent rental income stream, situated on a 0.476-acre lot at 219-225 North Brown Street, Fruitland, MD 21826. The property's strong occupancy history and easy-to-lease floor plans contribute to its overall appeal. This is a rare opportunity to acquire a profitable multifamily asset in a desirable location. The asking price is $1,000,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fruitland
- County
- Wicomico
- State
- Maryland
- Longitude
- -75.6108
- Latitude
- 38.3173
