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$1,875,000
$1,999,500
6.2%For more information regarding the value of a property, please contact us for a free consultation.
112 LEE AVE Takoma Park, MD 20912
0.41 Acres Lot
Key Details
Sold Price $1,875,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID MDMC758494
Sold Date 10/28/22
HOA Y/N N
Originating Board BRIGHT
Year Built 1958
Annual Tax Amount $21,262
Tax Year 2021
Lot Size 0.408 Acres
Acres 0.41
Property Description
Opportunity to own 15 unit apartment building with little turnover close to college and City of Takoma Park amenities. Lots of upside in rents by using City of Takoma Park regulations to create rent increases. Owner is open to 1031 Exchanges. Bring your offers early because this property subject to Right of First Refusal by Montgomery County/Takoma Park. Rent rolls, lead certificates, operating expenses, etc. attached as disclosures. OWNER FINANCING - owner will consider holding small first or second with large down payment. Terms offered: 5% interest only payments for approx. 5 years with balloon at termination of balloon. If you are considering converting these apartments to a condominium, please google the Maryland Condominium Conversion Act (promulgated out of the MD Secretary of State's Office) which is 56 pages long and is available online.
Location
State MD
County Montgomery
Zoning R10
Interior
Hot Water 60+ Gallon Tank, Natural Gas
Heating Hot Water, Radiator
Cooling Window Unit(s)
Flooring Ceramic Tile, Hardwood, Vinyl, Wood
Heat Source Natural Gas
Exterior
Garage Spaces 15.0
Utilities Available Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Water Access N
View City
Roof Type Flat
Accessibility None
Total Parking Spaces 15
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Montgomery County Public Schools
Others
Tax ID 161301063137
Ownership Fee Simple
SqFt Source Assessor
Security Features Carbon Monoxide Detector(s),Main Entrance Lock,Smoke Detector
Acceptable Financing Cash, Conventional, Exchange, FHA, FNMA, Private, Negotiable, Seller Financing
Listing Terms Cash, Conventional, Exchange, FHA, FNMA, Private, Negotiable, Seller Financing
Financing Cash,Conventional,Exchange,FHA,FNMA,Private,Negotiable,Seller Financing
Special Listing Condition Standard
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Bought with Louise F Jennings • Coldwell Banker Realty - Washington