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7404 Rhode Island Ave
College Park, MD 20740
Multifamily Property For Sale
·
11 Units
INVESTMENT HIGHLIGHTS
- 10 minutes walking-distance to University of Maryland campus
- 2 Residential Buildings with 11 total units
- Development value-add opportunity
- 2 blocks from College Park Metro Station
- 0.9 acres lot with 75% RMF-20 Zoning and 25% RSF-65 Zoning
- Prime location with strong rental demand
EXECUTIVE SUMMARY
Prime Investment Opportunity in Historic College Park, MD!
Presenting a rare and highly desirable multi-family investment opportunity in the heart of Historic College Park, just 10 minutes from the University of Maryland campus and only two blocks from the College Park Metro Station. This unbeatable location offers exceptional access to major commuter routes, public transit, and a vibrant local community with varies options of retail and restaurants - ideal for students, professionals, and working class tenants alike.
The property spans approximately 0.9 acres and features:
- Two residential buildings totaling 11 rental units;
- Rare off-street parking lot with capacity for 15 vehicles;
- Zoning mix: approx. 75% RMF-20 (Residential Multi-Family) and 25% RSF-65 (Residential Single-Family)
- Development Potential: The RSF-65 portion is currently vacant for additional single-family development, offer value-add possibilities.
With a potential annual gross income of $178,200, this property presents immediate cash flow and long-term upside, especially given the strong rental demand in the area due to its proximity to the university, metro, and amenities.
Whether you're a seasoned investor or a developer seeking a unique project in a high-demand area, this property checks all the boxes: location, income, parking, and future potential.
Don't miss this exceptional opportunity to own a prime piece of College Park real estate.
Presenting a rare and highly desirable multi-family investment opportunity in the heart of Historic College Park, just 10 minutes from the University of Maryland campus and only two blocks from the College Park Metro Station. This unbeatable location offers exceptional access to major commuter routes, public transit, and a vibrant local community with varies options of retail and restaurants - ideal for students, professionals, and working class tenants alike.
The property spans approximately 0.9 acres and features:
- Two residential buildings totaling 11 rental units;
- Rare off-street parking lot with capacity for 15 vehicles;
- Zoning mix: approx. 75% RMF-20 (Residential Multi-Family) and 25% RSF-65 (Residential Single-Family)
- Development Potential: The RSF-65 portion is currently vacant for additional single-family development, offer value-add possibilities.
With a potential annual gross income of $178,200, this property presents immediate cash flow and long-term upside, especially given the strong rental demand in the area due to its proximity to the university, metro, and amenities.
Whether you're a seasoned investor or a developer seeking a unique project in a high-demand area, this property checks all the boxes: location, income, parking, and future potential.
Don't miss this exceptional opportunity to own a prime piece of College Park real estate.
PROPERTY FACTS Under Contract
| Price Per Unit | $168,826 CAD | Lot Size | 0.90 AC |
| Sale Type | Investment | Building Size | 6,329 SF |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1936 |
| Property Subtype | Apartment | Parking Ratio | 2.37/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RMF-20 & RSF-65 - 75% of the lot is RMF-20 zoning, and 25% of the lot is RSF-65 zoning. | ||
| Price Per Unit | $168,826 CAD |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 6,329 SF |
| No. Stories | 3 |
| Year Built | 1936 |
| Parking Ratio | 2.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RMF-20 & RSF-65 - 75% of the lot is RMF-20 zoning, and 25% of the lot is RSF-65 zoning. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Tile Floors
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,995 CAD | 608 - 640 |
| 2+1 | 4 | $2,115 CAD | 609 - 960 |
| Studios | 5 | $1,496 CAD | 372 - 432 |
PROPERTY TAXES
| Parcel Number | 21-2353993 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,692,985 CAD |
PROPERTY TAXES
Parcel Number
21-2353993
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,692,985 CAD
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