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sales rep | Brivity IDX

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12 1/2 S Waverly Terrace , Cumberland, MD 21502
$460,000
Est. Payment: $2,448.31/mo
7710 Sqft
0.09 Acres
Status: active | Days on site: 66
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House Description

NINE UNIT APARTMENT BUILDING WITH OFF-STREET PARKING LOT. This nine-unit multifamily property presents a strong opportunity for an investor seeking immediate rental income, substantial completed improvements and clear value-add potential. The building consists of seven one-bedroom apartments and two two-bedroom apartments, with five units currently occupied, including a long-term tenant in Unit 6. Most of the apartments have been fully renovated, while Units 7 and 8 are partially completed—already gutted and painted and primarily needing flooring, kitchens and bathrooms—allowing the next owner to finish the remaining work, lease the vacant units and significantly increase the property’s gross income. Approximately $70,000 has already been invested into the property, including extensive interior renovations, new water heaters throughout and a complete renovation of the common areas with new flooring, fresh paint, updated electrical outlets and refinished stairs. The building also offers separate electric meters and laundry rough-ins, creating additional operational and income potential. Also included in the sale is the private parking lot directly across the street, providing dedicated off-street parking for tenants and possible future development potential, subject to local approvals. With existing income, the majority of the renovations already completed, multiple vacant units positioned for completion and lease-up, and an additional parcel included, this property offers several ways for an investor to increase revenue and build long-term value.

Highlights

Listed by Allyson M. Litten , 3012687504 Mountainside Home Realty , 3017220190. Bright MLS

Property Type

Commercial Sale

Lot/Acreage
0.09

Year Built

1910

County

Allegany

Area

SE Allegany - Allegany County (MDAL11)

School District

Allegany County Public Schools

Listing ID

MDAL2015652

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Interior Features

Water:Public

Exterior Features

Lot:Not New Construction,Horse Property: No,In City Limits
Garage Capacity:10
Zoning:R-L
Sewer:Public Sewer
Parking Features:Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Principal Interest
$2,448
Taxes
$422

Home Price

$460,000

Loan Details

30 yrs
7%

Down Payment

20%
$92,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,448.31

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,448.31 $421.92 $0.00 $2,870.23
Yearly $29,379.76 $5,063.00 $0.00 $34,442.76
Total $881,392.75 $151,890.00 $0.00 $1,033,282.75
Lender profile image
Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Cumberland, MD).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bright MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-13T23:12:42.000Z

© 2026 Bright MLS