308 Patterson Ct, TAKOMA PARK, 20912

Commercial Sale - Five Or More Units For Sale in WHEATON OUTSIDE


MLS® #: MDMC671432
Active, 110 Days on Market

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 5 one-bedroom units and 2 large studios; 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 averages $300 per quarter. 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. 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. Estimated Property Taxes 2019 $7,470.73 Year Built 1934 Lot Size: 10,076 square feet Zoning: R10 - Multi-family gross Current Income $95,271 per year - separate licensed units Off-street parking for 7 cars Close to Park w/trails Near to Bus Stop Gas Radiator Heating Mostly Thermal Windows Recent Updates! Not Subject to Takoma Park Rent Stabilization Law

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Essential Information

MLS® #: MDMC671432
Price: $925,000
Condo Coop Fee: $0
Bathrooms: 0.00
Square Footage: 4,200
Acres: 0.23
Year Built: 1934
Type: Commercial Sale
Sub-Type: Five Or More Units
Status: Active
Taxes: $7,470
Tax Year: 2019

Community Information

Address: 308 Patterson Ct
State: MD
Zip Code: 20912


Utilities: Cable TV Available, Electric Available, Multiple Phone Lines, Sewer Available, Water Available
Parking Spaces: 7
Parking: Assigned
View: Street, Trees/Woods


Heating: Radiator
Cooling: Window Unit(s)
# of Stories: 3


Lot Description: Backs to Trees, Rear Yard, Cleared
Roof: Asphalt
Foundation: Block, Slab

School Information


Additional Information

Listing Office: Long & Foster Real Estate, Inc.
Date Listed: July 30th, 2019
Days on Market: 110
Zoning: R10


$/SqFt: $220

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Listing information last updated on November 16th, 2019 at 4:03pm EST.