724 Salem Ave, Hagerstown, MD 21740

This well-maintained three-unit apartment building in Hagerstown, Maryland, presents a compelling investment opportunity. Located at 724 Salem Ave, 21740, this two-story building (1976 construction, renovated in 2024) boasts a total of 2,147 square feet on a 4,092 square foot lot. The unit mix includes a two-bedroom, 1.5-bathroom unit, a one-bedroom, one-bathroom unit, and an efficiency unit. A detached garage is also included. Following a fire in February 2024, extensive renovations were undertaken. The common areas and the two-bedroom unit are complete, with the efficiency unit's renovation expected to be finished in Fall 2024. The one-bedroom unit and garage are currently leased, and the renovated two-bedroom unit is available for lease. Projected annual gross rental income exceeds $32,000. Tenants are responsible for electricity and separately metered baseboard heat. The property benefits from a new upper rubber roof (2019), several new windows (2024), and energy-efficient baseboard heaters (2021). The property is zoned RMED and can be delivered with existing property management in place. This is a turnkey investment ready for immediate income generation.