🚨 Rare Hagerstown 4-Unit Opportunity | 3/4 Leased, $2,830/Mo| Moderate Rehab + Updated Roof
⭐ Property Features
- Home Type: Quadplex (4-unit multifamily)
- Bedrooms/Bathrooms: 5 BD / 4 BA total across 4 units (Unit mix: one 2BD/1BA, three 1BD/1BA)
- Square Footage: 3,196
- 4 separate electric meters, 1 heater, 1 water bill; older units have baseboard heat
- Unfinished attic, 1bd 1ba
- $1060-6m left; $885-just renewed, 12m; $885-10m left
- Basement: Unfinished basement with storage; needs foundation leveling and sump pump installation
- Parking: Street parking; unpaved rear yard with potential to add off-street parking
- Condition: Maintained rental condition; moderate rehab scope centered on basement
- HVAC: Baseboard heat (shared/single system); mini-split conversion is a value-add option
- Roof/Structure: Replaced at purchase (2020); 50-year warranty
- Kitchen Features: Full kitchen in each unit
- Year Built: 1930
📍 Location Highlights
Located in Hagerstown, MD, minutes from two newly opened Amazon fulfillment facilities, providing strong and sustained rental demand for working-class tenants. Hagerstown sits at the intersection of I-81 and I-70, with easy access to the broader Washington County rental corridor.
🔧 Investor Notes / Value-Add Potential
- Lease information: 1 unit for $1060-6m left, $ 885 (just renewed), 12m $885; 10m left, $1400 for Seller’s unit
- Asking price $543K against a $390K ARV; best positioned as a buy-and-hold rental repositioning play with a value-add angle
- Three of four units are currently tenant-occupied, generating gross rental income of approximately $2,830/month ($33,960/year); fourth unit (2BD/1BA) is owner-occupied and can be rented at market rate upon vacancy for an estimated $1,400-$1,500/month, pushing gross potential to approximately $4,230-$4,330/month
- Moderate rehab scope: basement work (foundation leveling and sump pump) is the primary repair item; the rest of the property is in maintained rental condition with a newer roof (2020, 50-year warranty)
- Each unit has a separate electric meter; value-add opportunity exists to convert shared baseboard heat to individual mini-split systems, shifting utility costs to tenants
- Unpaved rear yard presents opportunity to add dedicated off-street parking, a meaningful amenity in the local rental market
- Recommended strategy: buy-and-hold / rental repositioning
💰 Investor Numbers
Asking Price: $330,000
EMD: $7,500
COMPS:
1301 Virginia Ave, Hagerstown, MD 21740
📝 Access Policy
- To respect the seller and streamline the process, we prioritize buyers who provide a preliminary offer range, proof of buying criteria, or, when applicable, proof of funds.
- Showings are limited and offered only to buyers who indicate they are prepared to perform within reasonable proximity to the listed price expectations
📍 INVESTOR DISCLOSURES
- As always, we co-op with all agents
- All offers via our wholesale assignment contract (not a sale of equity).
- Cash / Hard Money / Private Money only.
- Proof of funds required.
- EMD: $7,500 within 24 hrs of contract acceptance.
- Closing with Lakeside Title Company.
- As-Is sale; buyer to perform due diligence
- Expected settlement: September 21st!
CLICK TO MAKE AN OFFER
📞 Questions Before Submitting an Offer?
Contact our dispositions manager: