CLOSED
112 Lee Ave
Takoma Park MD, 20912
$1,875,000
CLOSED
Commercial
Built in 1958
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.
MDMC758494
MLSⓇ ID
May 9, 2024
Updated
Map
112 Lee Ave
Takoma Park MD, 20912
Interior Features
Interior Features
Ceramic Tile, Hardwood, Vinyl, Wood
Floor Description
Ceramic Tile, Hardwood, Vinyl, Wood
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Hot Water, Natural Gas
Exterior/Building Features
Lot Size
0.41 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Takoma Park
Taxes
$21,262
Tax Frequency
Annually
Days on Market
45
Garage
No
Parking Total
15
View
Yes
View Description
City
County
MONTGOMERY
Water Source
Public
Pool
No
Buyer Agency Compensation
2.5%
Listed by Jan Rivera, with CASAS Real Estate, Inc.
Listing Contact: 3017179114
The IDX display contains information sourced from the Bright MLS, Inc. as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 5/9/2024 at 5:21 AM UTC
