Hagerstown, MD 21740 201 E Washington Street

201 E Washington Street Hagerstown, MD - Image 1201 E Washington Street Hagerstown, MD - Image 2201 E Washington Street Hagerstown, MD - Image 3
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201 E Washington Street Hagerstown, MD - Image 4201 E Washington Street Hagerstown, MD - Image 5201 E Washington Street Hagerstown, MD - Image 6201 E Washington Street Hagerstown, MD - Image 7
Presented By: Long & Foster Real Estate, Inc.
  • MLS# MDWA2027246
  • 02/24/2025
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  • SQFT • 4,234

Home Details

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.
Presented By: Long & Foster Real Estate, Inc.

Interior Features for 201 E Washington Street

Other Interior Features

Central Air Y/NNo
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterNatural Gas

General for 201 E Washington Street

Acceptable FinancingAssumption, Bank Portfolio, Cash, Contract, Conventional
AccessibilityNone
Business TypeApartment Building, Flex, Other/General Retail, Other
CityHAGERSTOWN
Construction MaterialsBrick, Brick Front
Cool FuelElectric
CoolingWindow Unit(s)
CountyWASHINGTON
DirectionsOff 40
HeatingBaseboard - Hot Water
Lot Size Square Feet3000.00
Lot Size UnitsSquare Feet
ModificationTimestamp2025-04-23T15:59:14
MunicipalityHagerstown
New ConstructionNo
Number Of Units Total5
OwnershipFee Simple
PossessionImmediate
Price Per Sq Ft Total AG96.83
Property SubtypeMixed Use
Property TypeCommercial Sale
Property UseInvestment
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Tax Annual Amount4373.0
Tax Assessed Value228133.0
Tax Year2024
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1900
Year Built SourceEstimated
ZoningCCMU

Exterior for 201 E Washington Street

Building Area Total4234.00
Car Parking Spaces1
Land Assessed Value50000.00
Land Use CodeM
Lot Size Acres0.07
Lot Size SourceAssessor
Navigable Water Y/NNo
Total Loading Docks0
Total Parking Spaces1
Type of ParkingOff Site, Driveway, On Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $409,990
MLS#MDWA2027246
List Date 02/24/2025
Property Type Commercial
Phone 703.929.4729
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