Multifamily Investment Property
$455,000
227/229 North Brown Street, Fruitland, MD 21826
For Sale
Multifamily
Active
Last Updated: 01/02/2025
6.2
Cap Rate
28,212.87
NOI
Details:
Cap Rate: 6.2%
NOI: $28,212.87
Building Size: 2,274 sqft
Lot Area: 0.159 acres
Occupancy: 100%
Units: 2
Year Built: 2009
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.
Documents:
| Title | ||
|---|---|---|
| SVN_-_Brochure__P_.pdf |
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery
