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    FOR SALE
    Multifamily properties

    20960 Maryland Hwy, Bloomington, MD 21523

    8,352 SF 1.25 ac lot Built 1965
    Entity Owned 3-yr Hold
    Property ID
    US40-2243143
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a 13-unit apartment complex situated on a spacious 1.25-acre lot in the desirable Sheppards Park Subdivision of Bloomington, Maryland. Built in 1965, this all-brick property offers a mix of 11 two-bedroom, one-bathroom apartments and two efficiency units, catering to a diverse range of tenants. The complex boasts ample private parking, a significant advantage for residents and visitors. Located in Garrett County, just west of the Allegany County border, this property benefits from its proximity to the thriving McHenry-Deep Creek Lake area, a region known for its four-season appeal. A mere 25-minute drive from Deep Creek Lake, the complex enjoys the economic advantages of this popular recreational destination. The nearby Wisp Ski Resort provides substantial winter employment, while the lake itself draws numerous visitors during the summer months. Convenient access to Route 219 and its connection to Interstate-68 ensures easy travel north and south, and east and west. The property's strategic location also offers easy access to major urban centers, including Baltimore/Washington (two hours east), Morgantown, West Virginia (one hour west), and Pittsburgh, Pennsylvania (two hours north). With a total of 8,352 square feet, this property represents a substantial investment in a sought-after location, offering both recreational appeal and convenient access to major transportation arteries. The property sits on a single tax parcel.

    Property profile
    Verified
    Property type Multifamily properties
    Year built 1965
    Total area 8,352 SF
    Lot 1.25 ac (54,450 SF)
    UPID US40-2243143
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Bloomington Apartments Apartment Building
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Barnett Investing LLC · 3 yrs held
    Barnett Investing LLC
    since 2022
    1 recorded transaction
    2022
    $312,500
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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