7405 Columbia Avenue

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.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