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
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $4,373
Tax Year 2024
Lot Size 3,000 Sqft
Acres 0.07
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)
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Water Access N
Accessibility None
Total Parking Spaces 1
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Washington County Public Schools
Others
Tax ID 2217003070
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Assumption,Bank Portfolio,Cash,Contract,Conventional
Listing Terms Assumption,Bank Portfolio,Cash,Contract,Conventional
Financing Assumption,Bank Portfolio,Cash,Contract,Conventional
Special Listing Condition Standard