308 Patterson Ct, TAKOMA PARK, 20912

REDUCED 3% Multi-Family - Other For Sale in TAKOMA PARK

$895,000

Beds
Baths
Sqft
.23Acres
1934Built
271DOM
MLS® #: MDMC667398
Active, 271 Days on Market

This is 7 units (not 4) -6 x 1BR and 1 efficiency. This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 6 one-bedroom units and 1 large studio; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas-fired hot water heaters, and the electric box has been upgraded to a circuit breaker. There's a separate laundry room in the basement with leased machines and rental income. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. 7.46% cap rate. Gutters and downspouts are new. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you are able to set market rents in the future. View Tour at http://www.308pattersonct.com

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Price & Status History

Date Details
Status Changed from Pending to Active
Status Changed from Active Under Contract to Pending
Status Changed from Active to Active Under Contract
Price Reduced from $925,000 to $895,000

Essential Information

MLS® #: MDMC667398
Price: $895,000
Condo Coop Fee: $0
Bathrooms: 0.00
Acres: 0.23
Year Built: 1934
Type: Multi-Family
Sub-Type: Other
Style: Other
Status: Active
Taxes: $7,470
Tax Year: 2020

Community Information

Address: 308 Patterson Ct
Subdivision: TAKOMA PARK
County: MONTGOMERY-MD
State: MD
Zip Code: 20912

Amenities

Amenities: Attic
Utilities: Cable TV Available, Electric Available, Sewer Available, Water Available, Multiple Phone Lines
Parking: Asphalt Driveway, Private, Unassigned

Interior

Appliances: Refrigerator, Stove
Heating: Radiator
Cooling: Window Unit(s)
Has Basement: Yes
Basement: Partial, Side Entrance, Walkout Stairs, Full, Windows
Fireplace: Yes
# of Fireplaces: 1
# of Stories: 3

Exterior

Exterior: Brick and Siding
Exterior Features: Sidewalks, Street Lights, Exterior Lighting
Windows: Double Pane
Roof: Asphalt

School Information

District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Elementary: ROLLING TERRACE
Middle: SILVER SPRING INTERNATIONAL
High: MONTGOMERY BLAIR

Additional Information

Listing Office: Long & Foster Real Estate, Inc.
Date Listed: July 19th, 2019
Days on Market: 271
Zoning: R10

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than TTR Sotheby's International Realty are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2020.

Listing information last updated on July 9th, 2020 at 8:01pm EDT.