$1,280,000
$1,235,000
3.6%For more information regarding the value of a property, please contact us for a free consultation.
9,500 SqFt
SOLD DATE : 07/21/2022
Key Details
Sold Price $1,280,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 9,500 sqft
Price per Sqft $134
Subdivision Takoma Park
MLS Listing ID MDMC2041212
Sold Date 07/21/22
Originating Board BRIGHT
Year Built 1968
Annual Tax Amount $18,961
Tax Year 2022
Lot Size 0.568 Acres
Acres 0.57
Property Description
What an attractive all brick 12 unit building in the heart of the City of Takoma Park and a short stroll to Historic District, shops, restaurants, Takoma Food Coop, Metro, City Hall, The Library, Schools, and parks! It's all your tenants will want and they stay and stay (one tenant there since the building was new!). This is the 2nd owner since the building was constructed in 1968 that is selling and tenants are long-term (1 since it was new) and reliable and all current with their rents. The tenants pay for their own heating and cooling (all-electric) and the owner pays for water/sewer and laundry hot water. The units are all a similar size 2 Bedroom and with walk-in closets in the larger bedroom, decent sized kitchens w/disposals and in good condition. Each unit has its own water heater (there is also one in the laundry room) and all water heaters were replaced in 2021. The electric panel was upgraded about 11 years ago as was the rubber roof. The building has been tested inside and out as being lead-free which means you do not have to have a new test with every tenant turnover. There's ample 16 space parking which is appreciated by tenants. There are large individual tenant storage units in the basement and a laundry room with 3 washers and 3 dryers (leased). Income/expenses for 2021 are available on request. The sale is subject to the first rights of refusal of the County, City, and Tenants as is usual - ask agent for details. This property is subject to the City Rent Stabilization Agreement which is referred to in the Takoma Park Addendum. A great long-term buy!
Location
State MD
County Montgomery
Zoning R20
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Heat Pump(s), Window Unit(s)
Flooring Wood, Other
Heat Source Electric
Exterior
Garage Spaces 17.0
Utilities Available Electric Available, Multiple Phone Lines, Phone, Sewer Available, Water Available
Water Access N
View City
Street Surface Black Top
Accessibility 2+ Access Exits, Level Entry - Main
Road Frontage City/County
Total Parking Spaces 17
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Takoma Park
Middle Schools Takoma Park
High Schools Montgomery Blair
School District Montgomery County Public Schools
Others
Tax ID 161301063230
Ownership Fee Simple
SqFt Source Assessor
Security Features Electric Alarm,Smoke Detector
Acceptable Financing Cash, Bank Portfolio, Conventional
Listing Terms Cash, Bank Portfolio, Conventional
Financing Cash,Bank Portfolio,Conventional
Special Listing Condition Standard
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Bought with Taylor J Denchfield • Realty Pros
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "