UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDWA2034474
Year Built 1903
Annual Tax Amount $13,435
Tax Year 2025
Lot Size 6,000 Sqft
Acres 0.14
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The portfolio offers a mix of one bedroom, one bath apartments and studio units, providing a practical unit mix for the downtown rental market. The 220–222 Summit Avenue building contains eight apartment units, consisting primarily of one bedroom layouts along with studio apartments. The separate garage building provides additional rental income potential. The adjoining 224–226 Summit Avenue building contains twelve studio apartment units, creating operational efficiency and scale across the combined properties.
The improvements include two and three story brick and masonry structures situated on a combined urban parcel with frontage along Summit Avenue and Hood Street. Both buildings have undergone substantial capital improvements in recent years, including basement waterproofing with commercial grade dehumidification, plumbing and electrical upgrades, updated water service, replacement and repair of fire escapes, new flooring, interior painting, remodeled units, common area improvements, and the installation of new PTAC heating and cooling units.
These improvements enhance long term durability and help reduce near term capital expenditure requirements for a new owner.
The properties are zoned Residential Medium Density under City of Hagerstown zoning, which supports the existing multifamily use. Located within the downtown City Center area, the properties benefit from proximity to employment, education, public transportation, shopping, and ongoing revitalization efforts throughout downtown Hagerstown.
Constructed in the early 1900s, the buildings reflect the durable brick and masonry construction commonly found in the area. Combined ownership of the adjoining properties provides streamlined management, portfolio scale, and long term upside through control of a contiguous multifamily footprint along Summit Avenue.
This offering represents an income producing multifamily opportunity with scale, recent improvements, additional garage income potential, and a strong downtown location. It is well suited for investors seeking durable cash flow and long term appreciation potential in one of Western Maryland's primary urban markets
Location
State MD
County Washington
Zoning RMED
Interior
Hot Water Electric
Heating Hot Water
Cooling Window Unit(s)
Heat Source Electric
Exterior
Garage Spaces 8.0
Water Access N
Accessibility None
Total Parking Spaces 8
Garage N
Building
Foundation Permanent
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Bester
Middle Schools E. Russell Hicks School
High Schools South Hagerstown Sr
School District Washington County Public Schools
Others
Tax ID 2203016218-2203016234
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS