6-unit multifamily investment property offering immediate cash flow and strong upside potential. All units are 2 bedrooms and 1 bathroom. Five of six units are currently occupied. All leases are month to month, providing a new owner with full flexibility to reposition rents or renovate at turnover. Current rents are below market rate with potential to achieve a double-digit cap rate through modest rent increases in line with current market conditions. Located in Frostburg, home to Frostburg State University, supporting consistent rental demand. Ideal for investors seeking a value-add multifamily asset with stabilized occupancy and room to grow. Do not disturb tenants. All showings by appointment only.
Attention Investors!! 7 unit apartment complex central to downtown Frostburg. Minutes from the Great Allegany Passage( Gap Trail) , and less than one mile from Frostburg State University!Very well maintained and zoned C3 vibrant mixed use town center commercial district. This means that this property is suitable for the downtown/ town-center area which typically allows a mix of retail, office, residential above the ground floor, and other compatible uses as outlined in the city’s zoning ordinance.Units are long term tenants and one unit is furnished and vacant for owner’s personal use and can easily be rented for additional income. Great investment opportunity on so many levels! Won’t last!!
Discover a unique investment opportunity with this charming commercial property, built in 1920 and brimming with potential. Nestled in a prime location, this brick structure offers a solid foundation for your next venture. With no association fees or restrictive covenants, you have the freedom to maximize your investment without unnecessary overhead. The building is currently rented by Wholesome Harvest Grocery Store and Restaurant Co-op and various massage and yoga providers. The building's classic architecture provides a timeless appeal, while its versatile layout allows for creative customization to suit various business models. Seize this opportunity to own a piece of real estate that not only holds historical charm but also offers a pathway to financial success. Don't miss out on the chance to make your mark in the commercial landscape!
Frostburg is located in Maryland. Frostburg, Maryland has a population of 7,282. Frostburg is less family-centric than the surrounding county with 20.68% of the households containing married families with children. The county average for households married with children is 24.83%.
The median household income in Frostburg, Maryland is $44,327. The median household income for the surrounding county is $51,090 compared to the national median of $69,021. The median age of people living in Frostburg is 22.5 years.
The average high temperature in July is 80 degrees, with an average low temperature in January of 17.9 degrees. The average rainfall is approximately 41.5 inches per year, with 64.3 inches of snow per year.
