8,852 Sqft Lot
8,852 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDMC2210724
Year Built 1961
Annual Tax Amount $11,205
Tax Year 2025
Lot Size 8,852 Sqft
Acres 0.2
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
alongside Long Branch Stream Valley Park, with balconies/porches overlooking the park w/creek
in every unit (THE GOVERNMENT FLOOD PLAIN MAP DOES NOT DESIGNATE THIS AS A FLOOD PLAIN). Owner will consider seller financing w/30% down @ 5% interest only for 5 years.
Each unit is bright and inviting. Enjoy morning coffee/dinner on your
balcony, listening to the birds with creek views.
Such a rare, captivating, attractive layout, and in excellent condition.
All units are 2BR 1Ba. The "owner unit" has a private storage/hobby/laundry room as
well as custom wood cabinetry with pull-out drawers for easy storage in both bedrooms.
Units 2 through 5 are currently licensed and occupied.
Updated lead-free certificates are available for the 4 licensed units.
This is a great opportunity for a resident/owner in a move-in-ready building. Current rental income (subject to soon-to-be-rented Unit 5) is $9175 per month, increasing to $9485 per month 10-1-26 for a total of $113,820 per year. The cap rate of 5.4% increases to 5.67 in October. This is after a 5% of gross rent fee for vacancy, 5% for repairs, and 7% for property management (it has been owner-managed for 51 years with no outside property management. Can be a great retirement location for an owner-occupant, too.
Contact the listing agent for more income/expense, lease, and unit details. The seller will consider holding a first deed of trust (mortgage) with 30% downpayment for 5 years at a fixed rate of 5% with a balloon payment.
This building is located outside of the Takoma Park City limits – it is not subject to the
City Rent Stabilization law, but it is subject to the Montgomery County law, with fewer
restrictions.
The units offer updated kitchens, and most have granite countertops and recent
cabinets. The paint and carpets (Wood in Unit 1) are clean and new. Each unit has a large storage locker in
the basement utility room, along with a shared community washer/dryer. Unit 1 has a 3rd room for its one laundry and hobbies (could be a 3rd bedroom).
Each unit is individually metered and has its own HVAC System (gas furnace/central air
conditioning unit). The owner pays for water/sewer/water heater.
Private, off-street, paved parking lot for 5 vehicles - one per unit.
The building's condition allows for a turnkey takeover.
This updated 1961 building, and its location are a tenant's dream.
Recent replacements/improvements include a new 100 Gallon gas water heater in
2023, a recent large LG washer/dryer in the utility room, new HVAC system (unit 2 in
2023), new AC units (units 2 and 5 in 2024), and units 1, 2, 3, and 5 kitchens remodeled.
The building has 6 electric and 6 gas meters and is cable-ready with fiber-optic internet.
Secured entry foyer to the 4 upper units with cameras for tenants to answer from home or office.
There is a useful storage shed in the rear garden and a private patio behind a fence
(Unit 1).
Mature garden shrubs and trees enhance the attractive location beside the park with
trails.
Two future Purple Line metro stations are within .5 miles of the property and Takoma DC Metro
station, on the Red Line, is 1.5 miles.
Historic downtown Takoma Park with restaurants, Food Coop, Library, and shops are
nearby, as is the Whole Foods in downtown Silver Spring and additional shopping.
Interstate 495 access is a 5 to 15-minute drive away, depending on traffic and the
entrance chosen. Bethesda, MD, and the University of Maryland are a short commute.
Washington Adventist University is a short walk away. 2nd opportunity as buyers were unable to perform.
Having sold many multi-family units in the Takoma Park area, I can vouch that this
building is in one of the best conditions you will find, and not your average multi-family
property/location. It's a good long-term investment and/or an ideal home for an owner-resident who wants a private unit in a shared community.
Location
State MD
County Montgomery
Zoning R10
Interior
Hot Water Natural Gas
Heating Forced Air, Zoned
Cooling Central A/C
Flooring Carpet, Hardwood
Inclusions Washer and dryer in the owner's unit, and the common area washer and dryer for other tenants. Storage shed conveys.
Heat Source Natural Gas
Exterior
Garage Spaces 5.0
Utilities Available Cable TV Available, Cable TV, Natural Gas Available, Phone Connected, Sewer Available, Water Available
Water Access N
View Garden/Lawn, Creek/Stream, Trees/Woods, Street
Roof Type Asphalt
Street Surface Black Top
Accessibility None
Road Frontage City/County
Total Parking Spaces 5
Garage N
Building
Lot Description Adjoins - Open Space, Adjoins - Public Land, Backs to Trees, Backs - Parkland, Cul-de-sac, No Thru Street, Rear Yard, Road Frontage, SideYard(s), Trees/Wooded
Foundation Brick/Mortar, Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Rolling Terrace
Middle Schools Silver Spring International
High Schools Montgomery Blair
School District Montgomery County Public Schools
Others
Tax ID 161301005986
Ownership Fee Simple
Security Features Main Entrance Lock,Smoke Detector,Carbon Monoxide Detector(s)
Acceptable Financing Bank Portfolio, Cash, USDA, Negotiable, Seller Financing
Listing Terms Bank Portfolio, Cash, USDA, Negotiable, Seller Financing
Financing Bank Portfolio,Cash,USDA,Negotiable,Seller Financing
Special Listing Condition Standard
Virtual Tour https://tour.truplace.com/property/3633/140507/
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "