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228 W Main Street

ELKTON, MD 21921
  • $799,900
  • STATUS: Active
  • ON SITE: 2 Days
  • ID#: MDCC2005570
UPDATED: 33 min ago
$799,900
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1930
County:

School Ratings & Info

School District:

Description

Have you been waiting to invest in your own apartment building or add to your current portfolio? This will be a great addition or an easy start to your portfolio. The current owners have streamlined this property for ease of use and maintenance. There are 7 apartment units that are all in good condition. 3 Apartments on the first floor, 3 on the second and 1 on the third. The lot that this building sits on is large and could accommodate additional usage such as storage units for the tenants. The property is well kept and has newer siding windows and a brand new roof. Nothing for you to do but take over. There is a basement that could also be converted to laundry for additional since. All 7 units are on month-to-month leases. The current owner has kept monthly prices and could easily be increased. This is an income-producing investment with a 6.5 cap rate and is ready for you to see today!Tenants pay for electric water and sewer.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Sky Group of Long & Foster Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-06-25T11:52:08.993.
www.theskygroup.com/homes/130110055
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228 W Main Street ELKTON, MD 21921

  • Price: $799,900
  • Status: Active
  • On Site: 2 Days
  • Updated: 33 min ago
  • ID#: MDCC2005570
0
Beds
0
Baths
0
½ Baths
0.28
Acres
1930
Built
Neighborhood:
None Available
County:
Cecil
School District:
Cecil County Public Schools
Property Description
Have you been waiting to invest in your own apartment building or add to your current portfolio? This will be a great addition or an easy start to your portfolio. The current owners have streamlined this property for ease of use and maintenance. There are 7 apartment units that are all in good condition. 3 Apartments on the first floor, 3 on the second and 1 on the third. The lot that this building sits on is large and could accommodate additional usage such as storage units for the tenants. The property is well kept and has newer siding windows and a brand new roof. Nothing for you to do but take over. There is a basement that could also be converted to laundry for additional since. All 7 units are on month-to-month leases. The current owner has kept monthly prices and could easily be increased. This is an income-producing investment with a 6.5 cap rate and is ready for you to see today!Tenants pay for electric water and sewer.
Exterior Features

Construction Materials Aluminum SidingVinyl Siding Garage YN No Parking Types Parking Lot Riparian Rights YN No Roof PitchedShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 5548.00 Cooling Window Unit(S) Flooring WoodFully CarpetedVinylTile/Brick Heating Forced Air Heating YN Yes Net Square Feet 5548.00

Property Features

Acceptable Financing ConventionalCashPrivate Accessibility Features None Annual Gross Expense 11716.00 Business Type Apartment Building Central Air YN No Cooling Fuel Electric Cross Street Main Electric Circuit Breakers Electric Expense 5558.00 Heating Fuel Natural Gas Hot Water Electric Insurance Expense 3600.00 Navigable Water YN N New Construction YN No Number Of Units Total 7 Operating Expense 11716.00 Operating Expense Includes InsuranceLandscapingPest ControlRepair/MaintenanceSnow Removal Original MLSNumber 801672101810 Owner Pays Common Area MaintenanceInsuranceLawn/Shrub CarePest ControlSnow RemovalTaxes - Real Estate Ownership Interest Fee Simple Possession Negotiable Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 3916.00 Tax Assessment Amount 243800.00 Total Actual Rent 65325.00 Vacation Rental YN No Water Source Public Year Built Effective 2007 Zoning Multi

Listing courtesy of Century 21 Gold Key Realty.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Sky Group of Long & Foster Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-06-25T11:52:08.993.
 
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The Sky Group of Long & Foster Real Estate
7700 Old Georgetown Rd, Suite 120
Bethesda MD, 20814