400 N POTOMAC Street
Property 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.
Broker Details
RG Realty, Inc. (240) 329-9454
MLS ID: 124248 State License Number: 598229
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $760,000 |
| No. of Units: | 4 |
| Year Built: | 1903 |
| Lot Size: | 8,524.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $190,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TRENDPA-MDWA2039250
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout