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sales rep | Brivity IDX

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426 N Locust St , Hagerstown, MD 21740
$1,235,000
Est. Payment: $6,781.50/mo
8637 Sqft
0.1 Acres
Status: active | Days on site: 58
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RGRE1 - 124248
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House Description

exclusive opportunity to acquire 424-426 N Locust Street, a fully occupied, turnkey 13-unit brick apartment building located in an established residential corridor near downtown Hagerstown, Maryland. The offering may be purchased individually or as part of a broader Hagerstown-area multifamily portfolio from the same ownership group, giving buyers flexibility to scale their acquisition. The building is comprised of thirteen 1-bedroom, 1-bathroom units plus available storage space, all currently occupied. The roof was replaced approximately one year ago, and most units have received major interior renovations and show very well, positioning this asset as a turnkey acquisition with minimal near-term capital requirements. Units are registered lead-free or lead-safe with the Maryland Department of the Environment, and required city inspections have been completed, reducing compliance risk and time-to-close for a buyer. This offering is supported by six months of actual, property-specific operating statements from the property's management company, a stronger underwriting basis than a portfolio-wide estimate. On a current, trailing basis, the property produces approximately $87,000 of annualized net operating income. A fully loaded Year 1 pro forma, incorporating vacancy, management, real estate tax, insurance, and reserves, projects approximately $73,000 of NOI, a cap rate of roughly 5.6% on the asking price. A below-market legacy unit offers clear embedded rent upside at turnover. Hagerstown sits at the crossroads of Interstate 81 and Interstate 70, giving the region direct access to the Baltimore, Washington D.C., and Philadelphia metropolitan areas, and supporting a diversified local economy anchored by healthcare (Meritus Health), logistics and distribution, and financial services. The subject property sits within a walkable corridor close to downtown Hagerstown, Meritus Medical Center, and the regional highway network.

Highlights

Listed by Roberto G. Gonzalez , 3019910207 RG Realty, Inc. , 2402036393. Bright MLS

Property Type

Commercial Sale

Lot/Acreage
0.1

Year Built

1940

County

Washington

School District

Washington County Public Schools

Listing ID

MDWA2040114

Questions about this listing?

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Interior Features

Water:Public

Exterior Features

Lot:Not New Construction,Horse Property: No,In City Limits
Zoning:RMED
Sewer:Public Sewer
Parking Features:On Street
Principal Interest
$6,781
Taxes
$1,181

Home Price

$1,235,000

Loan Details

30 yrs
7.312%

Down Payment

20%
$247,000
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:
$6,781.50

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,781.50 $1,181.08 $0.00 $7,962.58
Yearly $81,378.00 $14,173.00 $0.00 $95,551.00
Total $2,441,339.92 $425,190.00 $0.00 $2,866,529.92
Lender profile image
Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Hagerstown, 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: 2026-11-14T09:11:29.000Z

© 2026 Bright MLS