508-514 Bedford St Cumberland, MD 21502
- Apartment buildings
- 4,124 SF
- 0.17 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 508-514 Bedford St
- Year built
- 1907
- Lot size
- 0.17 lot acres
- Property size
- 4,124 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a four-unit apartment building located at 508-514 Bedford Street in Cumberland, Maryland. The property, built in 1907, boasts a charming historical Federal architectural design and sits on a 0.17-acre lot (APN: 0105013070). The building encompasses 4,124 square feet, with each unit offering one bathroom. Two units feature two bedrooms, while the other two offer three bedrooms. The property is zoned R-L. Projected monthly rental income is $750 for the two-bedroom units and $900 for the three-bedroom units, resulting in a total annual projected income of approximately $39,000. Conveniently located minutes from I-68, the apartments offer city and mountain views. Each unit includes various appliances, such as washers, dryers, stoves, and refrigerators (specific appliances vary by unit). A common area is also available. The asking price is $250,000, translating to $60.62 per square foot. This multifamily property presents a compelling investment opportunity with strong rental projections and a desirable location. The property is currently fully vacant, allowing for immediate income generation upon occupancy.
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
- Cumberland
- County
- Allegany
- State
- Maryland
- Longitude
- -78.7592
- Latitude
- 39.6596
