201-203 E WASHINGTON ST Active Save Request In-Person Tour Request Virtual Tour
Hagerstown,MD 21740
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,234 sqft
Price per Sqft $98
MLS Listing ID MDWA2027246
Year Built 1900
Annual Tax Amount $4,373
Tax Year 2024
Lot Size 3,000 Sqft
Property Sub-Type Mixed Use
Property Description
This exceptional five-unit mixed-use building offers a prime investment opportunity in the heart of Hagerstown. The commercial space at 201 E Washington St. has been fully renovated and brought up to code, featuring new flooring, fresh paint, ceiling repairs, updated electrical, and a brand-new roof. With approximately 800 square feet, the space is ideal for retail, office, or service-based businesses, with a projected rent of $1,000 per month. The residential portion of the building consists of four apartments, with 70% of the units fully renovated. The bottom-floor two-bedroom, one-bath unit has undergone a complete gut renovation, including new flooring, drywall, paint, plumbing, electrical, and appliances. A recent pipe leak caused water damage, which has been fully remediated by ServPro, though a new owner should anticipate $10,000 +/- in cosmetic repairs. The top-floor two-bedroom, one-bath unit was also affected by the same leak, which was professionally repaired by a licensed master plumber. The roof has been recently replaced, and ServPro completed the necessary water remediation, though $6,000 +/- in cosmetic work is needed to restore the space. The remaining one-bedroom, one-bath units are in great condition, with the rear unit expected to rent for $900 per month and the unit at 2 S Mulberry projected at $1,000 per month. With a total projected rental income exceeding $5,300 per month, this property is an excellent income-producing investment in a growing market. The combination of renovated units, prime location, and strong rental potential makes this an outstanding opportunity for investors looking for cash flow and long-term value.
Location
State MD
County Washington
Zoning CCMU
Interior
Hot Water Natural Gas
Heating Baseboard - Hot Water
Cooling Window Unit(s)
Exterior
Garage Spaces 1.0
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Washington County Public Schools
Others
Acceptable Financing Assumption,Bank Portfolio,Cash,Contract,Conventional
Listing Terms Assumption,Bank Portfolio,Cash,Contract,Conventional
Special Listing Condition Standard