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12 Grant Avenue

TAKOMA PARK, MD 20912
  • $1,235,000
  • STATUS: Active Under Contract
  • ON SITE: 72 Days
  • ID#: MDMC2041212
Under Contract
UPDATED: 95 min ago
$1,235,000
  • 0
    BEDS
  • 0.57
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1968
County:

School Information

Elementary School:
Middle School:
High School:

Description

What an attractive all brick 12 unit building in the heart of the City of Takoma Park and a short stroll to Historic District, shops, restaurants, Takoma Food Coop, Metro, City Hall, The Library, Schools, and parks! It's all your tenants will want and they stay and stay (one tenant there since the building was new!). This is the 2nd owner since the building was constructed in 1968 that is selling and tenants are long-term (1 since it was new) and reliable and all current with their rents. The tenants pay for their own heating and cooling (all-electric) and the owner pays for water/sewer and laundry hot water. The units are all a similar size 2 Bedroom and with walk-in closets in the larger bedroom, decent sized kitchens w/disposals and in good condition. Each unit has its own water heater (there is also one in the laundry room) and all water heaters were replaced in 2021. The electric panel was upgraded about 11 years ago as was the rubber roof. The building has been tested inside and out as being lead-free which means you do not have to have a new test with every tenant turnover. There's ample 16 space parking which is appreciated by tenants. There are large individual tenant storage units in the basement and a laundry room with 3 washers and 3 dryers (leased). Income/expenses for 2021 are available on request. The sale is subject to the first rights of refusal of the County, City, and Tenants as is usual - ask agent for details. This property is subject to the City Rent Stabilization Agreement which is referred to in the Takoma Park Addendum. A great long-term buy!

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Carroll Team | Douglas Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-20T23:52:52.17.
www.thecarrollteam.com/homes/126547544
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12 Grant Avenue TAKOMA PARK, MD 20912

  • Price: $1,235,000
  • Status: Active Under Contract
  • On Site: 72 Days
  • Updated: 95 min ago
  • ID#: MDMC2041212
0
Beds
0
Baths
0
½ Baths
0.57
Acres
1968
Built
Neighborhood:
Takoma Park
County:
Montgomery
Elementary School:
Takoma Park
Middle School:
Takoma Park
High School:
Montgomery Blair
School District:
Montgomery County Public Schools
Property Description
What an attractive all brick 12 unit building in the heart of the City of Takoma Park and a short stroll to Historic District, shops, restaurants, Takoma Food Coop, Metro, City Hall, The Library, Schools, and parks! It's all your tenants will want and they stay and stay (one tenant there since the building was new!). This is the 2nd owner since the building was constructed in 1968 that is selling and tenants are long-term (1 since it was new) and reliable and all current with their rents. The tenants pay for their own heating and cooling (all-electric) and the owner pays for water/sewer and laundry hot water. The units are all a similar size 2 Bedroom and with walk-in closets in the larger bedroom, decent sized kitchens w/disposals and in good condition. Each unit has its own water heater (there is also one in the laundry room) and all water heaters were replaced in 2021. The electric panel was upgraded about 11 years ago as was the rubber roof. The building has been tested inside and out as being lead-free which means you do not have to have a new test with every tenant turnover. There's ample 16 space parking which is appreciated by tenants. There are large individual tenant storage units in the basement and a laundry room with 3 washers and 3 dryers (leased). Income/expenses for 2021 are available on request. The sale is subject to the first rights of refusal of the County, City, and Tenants as is usual - ask agent for details. This property is subject to the City Rent Stabilization Agreement which is referred to in the Takoma Park Addendum. A great long-term buy!
Exterior Features

Construction Materials BrickBlock Garage YN No Location Type Downtown Parking Features Private Parking Types Parking Lot Property Condition Good Riparian Rights YN No Road Responsibility City/County Road Surface Type Black Top View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 9500.00 Cooling Heat Pump(S)Window Unit(S) Exclusions Laundry Machines Are Rented And Will Not Convey With The Property Flooring WoodOther Heating Baseboard - Electric Heating YN Yes Inclusions Each Unit Has An Electric Stove And Refrigerator That Will Convey With The Property Net Square Feet 9500.00 Security Features Electric AlarmSmoke Detector

Property Features

Acceptable Financing CashBank PortfolioConventional Accessibility Features 2+ Access ExitsLevel Entry - Main Annual Gross Expense 62294.00 Assessment Year 2022 Business Type Apartment Building Central Air YN No Cooling Fuel Electric Cross Street Carroll Electric Expense 8395.00 Elevators 0 Entry Level 2 Foundation Details Concrete Perimeter Gross Income 121164.00 Heating Fuel Electric Historic YN No Hot Water Electric Insurance Expense 5969.00 Internet Services Fiber OpticDsl Lease Considered YN No Maintenance Expense 8250.00 Municipality City Of Takoma Park Navigable Water YN N Net Operating Income 58870.00 New Construction YN No Number Of Units Total 12 Operating Expense 62294.00 Operating Expense Includes AdvertisingElectricInsuranceLandscapingManagement FeesParkingPest ControlRepair/MaintenanceSewerSnow RemovalTrashWater Original MLSNumber 801391013048 Other Expense 4200.00 Owner Pays Accounting/LegalAdvertising/Licenses And PermitsCommon Area MaintenanceInsuranceLawn/Shrub CareManagementPest ControlRepairsSewerSnow RemovalTaxes - Real EstateSuppliesTrash CollectionWaterSewer Maintenance Ownership Interest Fee Simple Possession 90-120 Days Cd Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 18961.00 Tax Assessment Amount 1110567.00 Total Actual Rent 121164.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileMetro/Subway Station Less Than 1 Mile Trash Expense 3550.00 Utilities Electric AvailableMultiple Phone LinesPhoneSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning R20 Zoning Description Multi-Family Residential

Listing courtesy of Long & Foster Real Estate, Inc..


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Carroll Team | Douglas Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-20T23:52:52.17.
 
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