UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,715 sqft
Price per Sqft $123
MLS Listing ID MDWA2034700
Style Colonial
Abv Grd Liv Area 2,715
Year Built 1895
Annual Tax Amount $3,348
Tax Year 2025
Lot Size 3,456 Sqft
Acres 0.08
Property Sub-Type Detached
Source BRIGHT
Property Description
Solid brick three-unit property located at 616 W Franklin Street, delivering immediate and stable cash flow. The asset is fully occupied and generates $3,175 per month in gross rental income, totaling $38,100 annually.
The property consists of three 2-bedroom, 1-bath units, each with private parking. All units are separately metered for electric and feature baseboard heating, keeping utility costs with the tenants and providing a clean, predictable expense structure.
This is a true plug-and-play investment. Take over and continue collecting consistent income from day one. The building offers durable construction, functional layouts, and strong long-term rental demand in an established Hagerstown location, just minutes from I-70, I-81, and downtown amenities.
Stabilized multifamily assets with separate utilities and reliable income streams continue to perform well in Washington County. Whether you are expanding your portfolio or entering the multifamily space, this is a straightforward, income-producing property with proven performance.
Location
State MD
County Washington
Zoning RMED
Rooms
Basement Other
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Fireplace N
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Block, Crawl Space
Above Ground Finished SqFt 2715
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Washington County Public Schools
Others
Tax ID 2225019288
Ownership Fee Simple
SqFt Source 2715
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS