Multifamily Investment Property

227/229 North Brown Street Fruitland, MD 21826

227/229 North Brown Street, Fruitland, MD, 21826
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FOR SALE
Property Type:
Other Special Purpose
Amount:
$455,000
Last Verified:
Sep 06, 2024

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Highlights

  • - 2 unit, 2274 Square Foot Duplex consisting of Two, Three Bedroom/Three bath units & are rented for 2024/2025 school year.
  • -Rental Income of $48,956 and NOI of $28,212.87
  • -Proforma NOI at market rent is $35,412.87 or 7.8% cap rate
  • - Both units are in great condition with no deferred maintenance.
  • -Tenants are responsible for all utilities & water/sewer.
  • -The leases are designed to give the Landlord 12 days to turn the unit while rent is still being paid.
  • -Buyers can tour the interior of the units with an agreed upon LOI.

Description

Investment Opportunity in a Strong Rental Market. No changes in asking rent for 3 years and current market rent is $75-$100 higher per bedroom.

From Business US-13 Turn Left onto Cedar Crossing/E Cedar Lane. At the traffic Circle continue to stay on E Cedar Lane & turn right onto N Brown Street. Duplex is on the left.


Year Built: 2009
Building Size: 2274sq ft
Lot Size: 0.16 acres


Documents

SVN - Brochure (P)

Map of 227/229 North Brown Street, Fruitland, MD, 21826

Presented by:
SVN | Miller Commercial Real Estate

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Andrew Ball


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