700 Fayette St Cumberland, MD 21502
- Commercial real estate
- 6,160 SF
- 0.30 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 700 Fayette St
- Year built
- 1965
- Lot size
- 0.30 lot acres
- Property size
- 6,160 SF
- Property type
- Commercial real estate
- APN
- 0106006981
Description
This well-established six-unit apartment building presents a compelling investment opportunity in Cumberland, Maryland. Located on the Westside, this all-brick property boasts 6,160 square feet of living space situated on a 0.3-acre lot (13,024 square feet). The building, constructed in 1965 and zoned R-L, offers a mix of unit sizes to cater to diverse tenant needs: three two-bedroom units and three one-bedroom units. One unit is currently utilized as an Airbnb, demonstrating the potential for flexible rental strategies and increased income generation through short-term rentals. The property includes six off-street parking spaces and benefits from its convenient location near local amenities. The established rental history provides a solid foundation for continued income, while the wooded backdrop offers tenants increased privacy and tranquility. The asking price is $480,000, translating to $77.92 per square foot. This property offers a blend of stability and potential for growth, making it an attractive investment in the Mountain Maryland market. The property's APN is 0106006981 and is offered fee simple. The listing term begins July 19, 2024.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Allegany
- State
- Maryland
- Longitude
- -78.7810423
- Latitude
- 39.6534452
