230 S MARKET STREET

Property Description

Wonderful three-unit apartment building in Downtown Frederick.  Steps to MSD and the center of Downtown.  Great opportunity to live in one unit and rent the other two, or rent all three!   The floor plan of each unit is available in the photos.  The building has been owned by the sellers since the 1960's.  They used the building as a living space for their staff.  The monthly rent amount collected is below market value.  There are no written leases in place currently, only verbal.   Unit 1 is unoccupied (includes washer/dryer in unit).  Unit 2 is occupied at $750 a month and Unit 3 is occupied at $850 a month (the washer/dryer for units 2 & 3 are on the lower level).  Heat is included with current rent amounts.  In the winter gas runs about $600 a month.  Water is also included in the current rent at $200 every quarter.  The market value for rent for Units 1 & 2 is about $1450 per month and Unit 3 is about $1550 per month.   Each unit is separately metered with individual electric meters.  The building owner does pay for power for the water heater and shared areas, which is about $188 every month.  Sellers will convey property occupied with current tenants and arrangements.  Disclosures in the MLS.   Please allow 24 hours for showing requests.