400 N Potomac St,HAGERSTOWN, MD 21740
HAGERSTOWN, MD 21740
Description
400 North Potomac Street, together with 2 and 4 East North Avenue, is an 8 unit and space mixed use income property in the North End of Hagerstown, Maryland. The property consists of seven one bedroom, one-bathroom apartments and one ground floor commercial space, all under professional third-party management. It is 87.5% occupied, with 7 of 8 units and spaces leased. Current collected rent is $8,065 per month, or $96,780 annually. Scheduled rent, including Unit 2B at its listed rent of $1,150, is $9,215 per month, or $110,580 annually. Deposits held total $7,375. The building has been meaningfully improved. The roof has been recently replaced, and the property carries all new replacement windows throughout, the two largest capital items on a building of this vintage. A buyer steps into that work rather than budgeting for it. Underwriting reflects reported 2026 year to date results, annualized, plus owner paid real estate taxes of $14,313, insurance of $7,518, and a 7% management fee of $6,737. All in net operating income is approximately $53,261, a 6.66% capitalization rate at the $800,000 offering price. Interior access to occupied units is available only after ratification, during the feasibility and due diligence period. The vacant unit is available for showing at any time to qualified, prequalified buyers. Do not disturb tenants.
Details
| MLS # | MDWA2039256 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1903 |
| Days On Site | 71 |
| Listing Provided By | RG Realty, Inc. | Roberto G. Gonzalez |
Features
| Units | 8 |
|---|---|
| Zoning | RO |
| Acreage | 0.26 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Hot Water |
Exterior
| Construction Materials | Block, Masonry, Stone |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 14313 |
|---|
Area Information
| State | MD |
|---|---|
| County | WASHINGTON MD |
| City | HAGERSTOWN |
| Zip Code | 21740 |
| Area | WASHINGTON MD |
| School District | WASHINGTON COUNTY PUBLIC SCHOOLS |
| High School | NORTH HAGERSTOWN |
| Listing VS Median (in 21740) | |
Price: $760,000 low | high Med: $289,990 On site: 71 low | high Med: 164 | |
Market Activity 21740
Request a showing
Request a showing
Contact
Learn More About This Property
| State | MD |
|---|---|
| County | WASHINGTON MD |
| City | HAGERSTOWN |
| Zip Code | 21740 |
| Area | WASHINGTON MD |
| School District | WASHINGTON COUNTY PUBLIC SCHOOLS |
| High School | NORTH HAGERSTOWN |
| Listing VS Median (in 21740) | |
Price: $760,000 low | high Med: $289,990 On site: 71 low | high Med: 164 | |
