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921 Prospect St
Takoma Park, MD 20912
Prospect St Apartments · Multifamily Property For Sale
·
5 Units
Investment Highlights
- Parking on the property, each unit has a balcony overlooking the park with tree views and walking path, well maintained brick-superior condition!
Executive Summary
This 5-unit building has been owned by one family since 1966, and owner occupied and the "owner's unit" on the ground level is beautifully updated. This unit has been newly licensed and rented to the first couple that viewed it for $2200 pm plus utilities. It is also unusual in having every unit overlooking Long Branch Park with calming tree views. Another plus is that this is outside of the Takoma Park City limits - meaning the City Rent Stabilization does not apply here. This is located in Montgomery County, Maryland. The building is in excellent condition, with all kitchens and bathrooms updated recently and fresh paint and carpet in many areas. You will be hard-pressed to find another nearby multi-family property in such good condition. Several long-term tenants and potential upside on rents. All units are 2BR 1BA except unit 1 - 2BR & a den. The seller will consider holding a first deed of Trust with 30% down, at 5% interest rate, fixed for 5 years with interest payment only.
Property Facts
| Price Per Unit | $358,316 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.03% | Building Size | 9,000 SF |
| Gross Rent Multiplier | 12.96 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1962/2018 |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R10 - Multi-family | ||
| Price Per Unit | $358,316 CAD |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| Gross Rent Multiplier | 12.96 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 9,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1962/2018 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | R10 - Multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- Ceiling Fans
- Granite Countertops
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Carpet
- Basement
- Deck
- Garden
- Handrails
- Patio
- Porch
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Gas Range
- Smoke Free
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $2,891 CAD | 800 - 1,130 |
Property Taxes
| Parcel Number | 13-01005986 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $977,009 CAD |
Property Taxes
Parcel Number
13-01005986
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$977,009 CAD
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