7042 Carroll Ave Takoma Park, MD 20912
- Residential income homes
- 4,000 SF
Current Use by Public Records
- Residential income homes
Property Details for 7042 Carroll Ave
- Year built
- 1920
- Property size
- 4,000 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a six-unit multifamily property located at 7042-7044 Carroll Ave, Takoma Park, MD 20912. The property, built in 1920, boasts a charming Arts and Crafts architectural style and is situated in the heart of the city's historic district. The portfolio comprises two buildings, totaling 4,000 square feet across three stories, and includes a mix of unit sizes: two two-bedroom units, three one-bedroom units, and one efficiency unit. Additionally, a 1,100 square foot retail space is available, spread across two levels. The property offers a compelling value-add opportunity with a current NOI of $54,779 and a cap rate of 3.65%. The asking price is $1,500,000, translating to $250,000 per unit and $375 per square foot. The property is zoned NR (permitted zoning) and is offered fee simple. Its prime location offers convenient access to the Takoma Metro Station (half-mile walk), numerous restaurants and shops, and the annual July 4th parade and Takoma Street Festival. This presents a rare chance to acquire a well-located, historic property with significant upside potential in a thriving community with easy access to Washington, D.C. The property's strong cash flow and desirable location make it an attractive investment for both seasoned and new investors.
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
- Takoma Park
- County
- Montgomery
- State
- Maryland
- Longitude
- -77.011
- Latitude
- 38.9751
