3205 Chestnut St - Apartments FOR SALE


Manchester, MD 21102
$2,500,000 USD
240-444-4656
3205 Chestnut St, Manchester, MD for Sale
$2,500,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

3205 Chestnut St
Manchester, MD 21102


HIGHLIGHTS

  • Unique Opportunity to Acquire a Townhome Property
  • Ability to Substantially Increase Rents
  • Excellent Location in Manchester Maryland

OVERVIEW

Harbor Stone Advisors is pleased to present the unique opportunity to acquire Manchester Towns, a rental townhome community located in Manchester, MD. The property is located close to Main Street in Manchester. Manchester Towns features 22 2 Br-1 Ba townhomes. Current ownership has renovated 6 units. Renovated units feature stainless steel appliances, laminate counters, HVAC, and LVT/Tile/carpet flooring. Classic units consist of white/black appliances, laminate counters, forced heat / window AC, and tile / carpet flooring throughout the townhomes. The property also has a parking lot in front and rear of the property. The opportunity exists for a new owner to organically increase rents or continue renovating units, as other units within the property are achieving $235/mo more. A new owner can also explore finding more voucher tenants, as those tenants are paying higher rents than market tenants on average. There is also an ability to add washers/dryers to the units.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

22

PRICE/UNIT

$113,636

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Manchester Towns

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

C3

APN/PARCEL ID

06-037380,06-037755,06-039413

ASK ABOUT THIS PROPERTY

Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

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Tom WohlgemuthHarbor Stone AdvisorsMore Info
240-444-4656

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.