Address
7405 Columbia Avenue, College Park, MD
Price
$ 1,399,000
Property Attributes
- MLS#MDPG2088402
- TypeContingent
- CountyPRINCE GEORGES
- CityCollege Park
- NeighborhoodCollege Park
- Zip20740
- StyleApartment Building
- Year Built1915
- Taxes$ 13552
- Price$ 1,399,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5154
- Lot Size10,890 SqFt
Data Source:
Bright MLS
Property Description
Don't Miss Your Chance to Own this 7 Unit, turnkey, fully leased Multifamily property in the rarely available and in demand Old Town Section of College Park, Maryland. This 3 level home is very close to the University of Maryland and is an excellent income producing property for the right investor. Great opportunity to update and add value to this property on so many levels to maximize cash flow. This fabulous property features 7 individual rental units. All units feature one bedroom and a kitchen except the basement unit which has 3 bedrooms. The 3 bedroom basement apartment has its own separate entrance. Each unit is separately metered for easy management of individual tenants. A common laundry facility is in the basement of the property and features several machines shared by all tenants. Parking is never an issue here as the property comes with a huge gravel lot that surrounds the building, plus an enclosed 2 car garage with extra storage space. The property also has 2 newer Hot Water Heaters. Property SOLD AS IS. Current Monthly Rents and Lease Expirations include: Unit 1: $1,575.00 per month, lease runs through 7/15/2024 (3 Br, 1Ba) Unit 2: $1,050.00 per month, lease runs through 7/14/2024 (1Br, 1Ba) Unit 3: $927.00 per month, lease runs through 5/31/2024 (1Br, 1Ba) Unit 4: $927.00 per month, lease runs through 5/31/2024 (1Br, 1Ba) Unit 5: $1,050.00 per month, lease runs through 7/15/2024 (1Br, 1Ba) Unit 6: $1,050.00 per month, lease runs through 7/31/2024 (1Br, 1Ba) Unit 7: $875.50 per month, lease runs through 11/30/2023 (1Br, 1Ba) Total income: $7,454.50
| Price History | |
|---|---|
| 9/5/2023 | Listed $1,495,000 |
| 10/9/2023 | 7% - $1,399,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Hot Water |
| Cooling | Central A/C |
| Possession | Settlement,Subject to Home Choice,Subject to Existing Lease |
| Roof | Composite |
| Zoning | RSF65 |
| Construction Materials | Combination |
| Year Built | 1915 |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| OwnerPays | Gas,Water,Taxes - Real Estate,Snow Removal,Sewer,Repairs,Reserves for Replacement,Management,Insurance |
| Business Type | Apartment Building |
| Accessibility | None |
| County | PRINCE GEORGES |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | COLLEGE PARK |
| Possible Use | Apartments,Apartment Building,Bed & Breakfast,Investment,Residential |
| Water Access Y/N | No |
| Property Use | Investment |
| Transportation | Bus Stop less than 1 mile,Metro/Subway Station 1 to 3 miles |
| Status | ACTIVE UNDER CONTRACT |
| Directions | see map |
| ModificationTimestamp | 2024-05-08T11:05:28 |
| City | COLLEGE PARK |
| Buyer Agent Compensation | 2.5 |
| Disclosures | Lead Based Paint - Federal |
| Total Units | 7 |
| Lot Size Square Feet | 10687.00 |
| Tax Assessed Value | 773367.0 |
| Waterfront Y/N | No |
| Street Name | COLUMBIA |
| Tax Annual Amount | 13552.0 |
| Property Condition | Good |
| Price Per Sq Ft | 271.44 |
| Vacation Rental Y/N | No |
| Days on Market | 147 |
| Standard Status | Active Under Contract |
| Year Built Source | Assessor |
| Legal Subdivision | COLLEGE PARK- |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Flooring | Carpet |
| Hot Water | Natural Gas |
| Total Stories | 3 |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | Yes |
| Total Restrooms | 7 |
Exterior Features
| Parking Features | Fenced,Private,Surface |
|---|---|
| Water Source | Public |
| Total Parking Spaces | 17 |
| Type of Parking | Off Site,On Street,Parking Lot,Private Garage,Driveway,Other |
| Land Use Code | M |
| Water View Y/N | No |
| Building Area Total | 5154.00 |
| Lot Size Acres | 0.25 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 130400.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Car Parking Spaces | 15 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 20740
Price
Taxes
Visits
Year Built
Walkscore
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