445 N MECHANIC Street N
Property Description
Investment opportunity in Cumberland with stable tenants, established property management, and room to increase income. This two-unit property is currently generating $1,875/month in total rental income, with long-term tenants who have occupied the property for multiple years. Current market rents are estimated at approximately $2,300-$2,400/month combined, providing potential upside for the next owner. Tenants pay all utilities, with separate electric and water meters in place; gas expense is split between the two units. Property management is already established, offering a streamlined transition for an investor. Sale also includes the adjacent gravel lot, conveyed on a separate deed, providing valuable off-street parking as well as potential future development opportunities, subject to applicable zoning and approvals. At the current asking price of $249,000, the property offers an attractive combination of existing cash flow, long-term tenancy, rental upside, and additional land. Great opportunity to add a stabilized multifamily asset to your portfolio.
Broker Details
Samson Properties (703) 378-8810
MLS ID: 3399257 State License Number: 5024191
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $249,000 |
| No. of Units: | 2 |
| Year Built: | 1910 |
| Lot Size: | 2,060.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $124,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TRENDPA-MDAL2015734
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