7208 Bowdoin Ave, College Park, MD 20740

This exceptional College Park, MD investment opportunity presents a 5-unit apartment building situated on a 7,691 sq ft lot at 7208 Bowdoin Ave, 20740. The property, built in 1900 and renovated in 2000, boasts a four-story structure with a permitted R zoning classification. The building comprises five separately metered units: two one-bedroom units, two standard studio units, and one large studio unit. Currently generating a NOI of $56,803, with a 7.43% cap rate, a pro-forma NOI of $71,911 projects a 9.40% cap rate, indicating significant upside potential. The asking price is $765,000, or $153,000 per unit. Six parking spaces are available. All utilities are billed back to tenants, minimizing landlord expenses to taxes and insurance. The property's prime location, just 300 feet from the metro, enhances its appeal and rental potential. The current monthly rent of $5,741 is easily scalable to $7,000-$7,500. The property is licensed and inspected by the City of College Park. Showings are by appointment only, requiring a Letter of Intent. Note that this is a fee-simple ownership. Additional investment opportunities exist with two adjacent six-unit buildings also available for purchase, presenting a potential 17-unit portfolio or substantial development opportunity.