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412 N Potomac Street, Hagerstown, MD 21740
$550,000
412 N Potomac Street, Hagerstown, MD 21740View this property at 412 N Potomac Street, Hagerstown, MD 21740
412 N Potomac StreetHagerstownMD21740
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Property Description
Property Overview: 412 N Potomac St is a two-story building located on a popular urban street in Hagerstown, Maryland. This property features a total of 5 units, comprising 4 spacious apartments and one large office space. Of the 4 apartments, 3 are 2-bedroom units, and 1 is a 1-bedroom unit. The 2-bedroom units are equipped with central air conditioning for added comfort. The property sits on a .441-acre parcel and includes a convenient parking lot at the rear of the building with 25 parking spaces, which could be rented out for additional income. Location and Amenities: The property boasts a prime location in close proximity to the vibrant Art & Entertainment District in Hagerstown. It is also within walking distance of the new University of Maryland, the new Public Library, and the new Maryland Theater, making it an attractive choice for tenants seeking convenience and access to cultural and educational amenities. Property Condition and Upgrades: Professionally owned and operated, the property has been well-maintained. Most apartments have undergone recent upgrades, including a roof replacement in 2007 and updates to plumbing and electrical systems. All units are separately metered for electric, providing the opportunity to increase rents without the need for additional improvements. The sidewalks and curbs are in good repair, and all windows have been replaced. While interior surfaces may vary from unit to unit, they are generally considered to be in good condition. Some units have received updates such as new carpet, refinished hardwood floors, or new appliances, ensuring they are in a satisfactory state of repair. Utilities and Services: Trash removal is efficiently managed by the city of Hagerstown, with the cost included in the quarterly water and sewer bill. Market Demand and Zoning: The property is located in a mixed-use neighborhood with a blend of residential and commercial uses. This area continues to experience demand for properties like this, attracting both local and out-of-town investors who are interested in purchasing and renovating similar buildings. The zoning and use are compliant with local ordinances, and the property is considered a legal, non-conforming grandfathered use, consistent with similar buildings in the city. This status has no negative impact on rental rates or property values. Investment Opportunity: 412 N Potomac St represents a compelling investment opportunity in a highly desirable location, offering a mix of rental units and an office space. With a strong historical performance and potential for rent increases, this property is well-positioned to generate consistent rental income and long-term capital appreciation.
Full Property Details
Full Property Details for 412 N Potomac St
General
- Sold For: $550,000
- Taxes: $4,669 (2023)
- Status: Closed
- Type: Multi-Family
- MLS ID: MDWA2018842
- Added to Site: 201 day(s) ago
Parking
- Total Spaces: 25
- Parking Type: Parking Lot
Location
- Municipality: Hagerstown
- County: Washington
- Driving Directions: gps
- City Limits: Yes
School Information
- School District: Washington County Public Schools
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Heating Type: Heat Pump(s)
- Heating Fuel: Natural Gas
- Water Heater: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Natural Gas Available, Electric Available
Structural Information
- Architectural Info: Other
- Architectural Style: Other
- Structure Type: Detached
- Construction: Other
- Foundation: Block
- Stories/Levels: 0
- Square Feet: 4,466
- Sq. Ft. Source: Assessor
- Living Area: 4,466 Sq. Ft.
- Year Built: 1895
- Year Built Source: Assessor
Unit Information
- 1 Bedroom Units: 1
- 2 Bedroom Units: 3
Lot Features
- Lot Size (Acres): 0.44
- Lot Size (Sq. Ft.): 19,200
- Lot Size Source: Assessor
- Zoning: RO
Financial Considerations
- Price Per Sq. Ft.: $123.15
- Assessment Year: 2023
- City/TownTax: $2,440
- City/TownTax Freq: Annually
- County Tax: $2,229
- County Tax Freq: Annually
- Tax w/Assessment: $243,567
- Tax Amount: $4,669
- Tax Year: 2023
- Terms: Standard Sale
- Tax Total Finished Sq. Ft.: 4466
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Ownership: Fee Simple
Listed by RG Realty, Inc., Krystal Stewart
Sold by ExecuHome Realty, Mark A Sykes
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Schools
Schools serving 412 N Potomac St
School District:Washington County Public Schools, Williamsport, MD
Rating | Name | Grades | Distance |
---|---|---|---|
195 Pangborn Blvd, Hagerstown, MD 21740 | K-5 | 1.1 mi | |
701 Northern Ave, Hagerstown, MD 21742 | 6-8 | 1.3 mi | |
1200 Pennsylvania Ave, Hagerstown, MD 21742 | 9-12 | 1.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 412 N Potomac St
Date
Details
Price
Change
Source
5/15/2024
Sold
$550,000
—
MLS
11/13/2023
Listed
$550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
412 N Potomac Street, Hagerstown, MD 21740 (MLS# MDWA2018842) is a Multi-Family property that was sold at $550,000 on May 15, 2024. Want to learn more about 412 N Potomac Street? Do you have questions about finding other Multi-Family real estate for sale in Hagerstown? You can browse all Hagerstown real estate or contact a Coldwell Banker agent to request more information.