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7042-7044 Carroll Ave 7 Unit Apartment Building $1,250,000 ($178,571/Unit) Takoma Park, MD 20912
INVESTMENT HIGHLIGHTS
- • Ideal for Partial-User or Investor
- • Increase Revenue by Converting Some or All Multifamily Units to Commercial
- • 100% Leased to Month-to-Month Tenants
- • Rare Opportunity in Old Takoma | 56+ Feet of Street Frontage on Carroll Avenue
EXECUTIVE SUMMARY
Feldman Ruel is pleased to offer for sale 7042-7044 Carroll Avenue, a mixed-use property centrally located in the vibrant business district of Takoma Park, Maryland. The subject property consists of a two-level retail unit (7042 Carroll Avenue) and six multifamily units (7044 Carroll Avenue), with front and rear yards and one parking space. The subject property’s Neighborhood Retail (NR) zoning allows for a broad range of commercial uses. Given the demand for commercial space in Takoma Park, a purchaser may benefit from expanding the commercial use. All of the tenants are on month-to-month leases, and the property can be delivered vacant. In accordance with Takoma Park’s multifamily rent stabilization regulations, a landlord may set rents for future multifamily tenants up to the banked allowable increase of 13.75%.
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 13-01057694 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $881,267 |
PROPERTY TAXES
Parcel Number
13-01057694
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$881,267
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7042-7044 Carroll Ave
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