Jonathan Schultz

Consultant | License ID: 5012250

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Listed by Tyler Austin Charles • Long & Foster Real Estate, Inc.
Bought with Non Subscribing Member • Non Subscribing Office

$ 385,000

$ 409,990 6.1%

Est. payment -/mo

Sold on 06/11/2025

201-203 E WASHINGTON ST Hagerstown, MD 21740

3,000 Sqft Lot

UPDATED:

Key Details

Sold Price $385,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID MDWA2027246

Sold Date 06/11/25

Year Built 1900

Annual Tax Amount $4,373

Tax Year 2024

Lot Size 3,000 Sqft

Acres 0.07

Property Sub-Type Mixed Use

Source BRIGHT

Property Description

This exceptional five-unit mixed-use building offers a prime investment opportunity in the heart of Hagerstown. The commercial space at 201 E Washington St. has been fully renovated and brought up to code, featuring new flooring, fresh paint, ceiling repairs, updated electrical, and a brand-new roof. With approximately 800 square feet, the space is ideal for retail, office, or service-based businesses, with a projected rent of $1,000 per month. The residential portion of the building consists of four apartments, with 70% of the units fully renovated. The bottom-floor two-bedroom, one-bath unit has undergone a complete gut renovation, including new flooring, drywall, paint, plumbing, electrical, and appliances. A recent pipe leak caused water damage, which has been fully remediated by ServPro, though a new owner should anticipate $10,000 +/- in cosmetic repairs. The top-floor two-bedroom, one-bath unit was also affected by the same leak, which was professionally repaired by a licensed master plumber. The roof has been recently replaced, and ServPro completed the necessary water remediation, though $6,000 +/- in cosmetic work is needed to restore the space. The remaining one-bedroom, one-bath units are in great condition, with the rear unit expected to rent for $900 per month and the unit at 2 S Mulberry projected at $1,000 per month. With a total projected rental income exceeding $5,300 per month, this property is an excellent income-producing investment in a growing market. The combination of renovated units, prime location, and strong rental potential makes this an outstanding opportunity for investors looking for cash flow and long-term value.

Location

State MD

County Washington

Zoning CCMU

Interior

Hot Water Natural Gas

Heating Baseboard - Hot Water

Cooling Window Unit(s)

Heat Source Natural Gas

Exterior

Garage Spaces 1.0

Water Access N

Accessibility None

Total Parking Spaces 1

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Washington County Public Schools

Others

Tax ID 2217003070

Ownership Fee Simple

Acceptable Financing Assumption, Bank Portfolio, Cash, Contract, Conventional

Listing Terms Assumption, Bank Portfolio, Cash, Contract, Conventional

Financing Assumption,Bank Portfolio,Cash,Contract,Conventional

Special Listing Condition Standard

Jonathan Schultz

Consultant | License ID: 5012250

+1(410) 935-6033

GET MORE INFORMATION

201-203 E WASHINGTON ST Hagerstown, MD 21740

Key Details

Location

Interior

Exterior

Building

Schools

Others

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201-203 E WASHINGTON ST