224 Frederick St, Hagerstown, MD 21740

Property Description

Great investment opportunity! This rehabbed brick building in Hagerstown features three versatile units with excellent income potential. Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property offers flexibility and multiple revenue streams. The property includes a 1-bedroom downstairs apartment, currently estimated to rent for $1,350 per month, and a 1-bedroom upstairs apartment with estimated rental income of $1,250 per month. The third unit is an office/efficiency space with potential for a small business or conversion to a residential unit, estimated to generate $800 per month. The large garage offers additional income potential, with parking spaces estimated at $100 each. Based on these estimates, the three units could generate approximately $3,400 per month, with additional income possible from garage parking. All three units have been painted throughout. The main floor unit has a private entrance. This unit has been updated with new windows, electrical, plumbing & HVAC. The upstairs apartment features updated light fixtures, a range hood, and countertops. The property also boasts a large lot with parking for approximately 8–10 vehicles, additional off-street parking, and convenient alley access. With multiple income-producing opportunities and the potential to maximize rental returns, this property is an excellent opportunity for investors looking to build or expand their portfolio. Property is being sold AS-IS. Schedule your showing today!`