Waterfront Duplex Investment Opportunity

230 Lakewood Drive Salisbury, MD 21804

230 Lakewood Drive, Salisbury, MD, 21804
230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804 230 Lakewood Drive, Salisbury, MD, 21804
FOR SALE
Property Type:
Other Special Purpose
Amount:
$475,000
Last Verified:
Aug 09, 2024

Daily Email Blast
0 times


Highlights

  • 2 unit, 2688 Square Foot Duplex on Tony Tank Pond consisting of Two, Four Bedroom/Two bath units
  • Rental Income of $50,780 and NOI of $36,213 w/ professional management
  • 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.
  • Both units are fully rented for 2024/2025 school year

Description

Investment Opportunity in a Strong Rental Market. No changes in asking rent for 3 years and market rent is $25-$50 higher per bedroom

Located in Salisbury, this area offers a strategic advantage for an occupied student rental investment. It's very close proximity to Salisbury University, provides a solid tenant base with minimal marketing.


Year Built: 2002
Building Size: 2688sq ft
Lot Size: 0.34 acres


Documents

SVN - Brochure (L)
Disclosures

Map of 230 Lakewood Drive, Salisbury, MD, 21804

Presented by:
SVN | Miller Commercial Real Estate

Request additional information
Andrew Ball


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.