100 East Ave, Hagerstown, MD 21740

Property Description

Looking to make the move from single-family rentals into multifamily? Want to add another multifamily asset to your existing portfolio? Or searching for a property that could support your residential care, housing, or program-based operation? This unique Hagerstown multifamily property offers 9 potential 1BR/1BA residential units across five addresses and is currently configured and operated as program housing. The existing layout provides an excellent foundation for an investor looking to reposition the property for traditional multifamily use. Individual spaces feature one-bedroom layouts with private bathrooms, kitchens or kitchen areas, living space, abundant natural light, and a mix of hardwood and tile flooring. The property also includes multiple laundry areas, office space, storage, and infrastructure currently supporting the residential care operation. For the investor ready to graduate from single-family rentals into multifamily, this property offers the opportunity to acquire multiple potential rental units within one asset. For the experienced multifamily owner, it provides another opportunity to add scale and potential cash flow to an existing portfolio. For a residential care or program-housing operator, the property's existing configuration may provide an opportunity to establish or expand operations in a building already designed around residential care, subject to all applicable zoning and licensing requirements. Potential cap rate of 10–11% with projected annual ROI of 14–15%. Whether your strategy is traditional multifamily, repositioning, or an operational housing model, this property offers a unique opportunity to acquire a substantial asset with multiple paths to value creation. All units will be delivered vacant at the time of settlement. Buyer to independently verify zoning, licensing, permitted uses, financial projections, and suitability for any intended use.