$700,000
SOLD JAN 31, 2025

136 E Franklin St Hagerstown, MD 21740

Central Neighborhood
-- Bed
-- Bath
5,000 Sq Ft
9,840 Sq Ft Lot

Recently Sold

$140 Per Sq Ft

4% Above List Price

16 Days on Market

Highlights

  • Colonial Architecture
  • Ruth Ann Monroe Primary School Rated A-
  • Electric Baseboard Heater

About This Home

As of January 2025

Prime investment opportunity! Currently generating over $7,000 in monthly rental income with potential for further increases to market rates, this all-brick, fully-occupied multi-family property in downtown Hagerstown offers an exceptional addition to any portfolio. Featuring six spacious units, approximately 835 sq ft each, the building is fully equipped with separate electric meters, placing utility responsibility on tenants and streamlining management. Solid structural integrity is ensured with a brick and masonry foundation, complemented by new replacement windows that enhance energy efficiency. Each floor is thoughtfully laid out with two large units, providing tenants with ample living space and privacy.

Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors’ review. Located at the gateway to Hagerstown’s vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don’t miss the opportunity to acquire a robust, low-maintenance property in a prime location.
AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area

Last Agent to Sell the Property

Roberto Gonzalez

(301) 991-0207 roberto@rgrealtyinc.com RG Realty, Inc. License #598229 Listed on: 11/15/2024

Last Buyer's Agent

Craig Marsh

(301) 875-5978 craigmarshrealty@gmail.com Marsh Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,055

Year Built

  • Built in 1894

Lot Details

  • 9,840 Sq Ft Lot

Home Design

  • 5,000 Sq Ft Home
  • Colonial Architecture
  • Brick Exterior Construction
  • Permanent Foundation
  • Concrete Perimeter Foundation

Parking

  • 6 Parking Spaces
  • 6 Off-Street Spaces
  • Gravel Driveway
  • On-Street Parking
  • Fenced Parking

Utilities

  • Electric Baseboard Heater
  • Electric Water Heater

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 2222015702

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,055

Year Built

Built in 1894

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Detached
  • Architectural Style: Colonial
  • Ownership: Fee Simple
  • New Construction: No
  • Expected On Market: 2024-11-18
  • Year Built: 1894
  • Automatically Close On Close Date: No
  • Remarks Public: Prime investment opportunity! Currently generating over $7,000 in monthly rental income with potential for further increases to market rates, this all-brick, fully-occupied multi-family property in downtown Hagerstown offers an exceptional addition to any portfolio. Featuring six spacious units, approximately 835 sq ft each, the building is fully equipped with separate electric meters, placing utility responsibility on tenants and streamlining management. Solid structural integrity is ensured with a brick and masonry foundation, complemented by new replacement windows that enhance energy efficiency. Each floor is thoughtfully laid out with two large units, providing tenants with ample living space and privacy. Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors’ review. Located at the gateway to Hagerstown’s vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don’t miss the opportunity to acquire a robust, low-maintenance property in a prime location. AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Foundation Details: Permanent, Other, Concrete Perimeter
  • Total Sq Ft: 5000
  • Living Area Sq Ft: 5000
  • Price Per Sq Ft: 140.00
  • Above Grade Finished Sq Ft: 5000
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 136-138

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Fenced, Gravel Driveway
  • Total Garage And Parking Spaces: 6
  • Type Of Parking: On Street, Off Street
  • Off Street Parking Spaces: 6

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Electric
  • Heating Type: Baseboard - Electric
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: WASHINGTON COUNTY PUBLIC SCHOOLS
  • School District Key: 121138761341
  • School District Source: 3rd Party

Lot Info

  • Land Use Code: 104
  • Lot Size Acres: 0.23
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 9840.00
  • Year Assessed: 2021
  • Zoning: CCMU
  • In City Limits: Yes

Rental Info

  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 4055.00
  • Assessor Parcel Number: 2222015702
  • County Tax Payment Frequency: Annually
  • Tax Year: 2021
  • Close Date: 01/31/2025

MLS Schools

  • School District Name: WASHINGTON COUNTY PUBLIC SCHOOLS

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2025 01/31/25 Sold $700,000 0.0% $140 / Sq Ft
11/29/2024 11/29/24 Price Changed $700,000 +3.7% $140 / Sq Ft
11/15/2024 11/15/24 For Sale $675,000 -- $135 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Roberto Gonzalez

    Seller's Agent in 2025

    Roberto Gonzalez

    RG Realty, Inc.

    (301) 991-0207

    88 in this area

    192 Total Sales

    Roberto Gonzalez
    Section Image
  • Craig Marsh

    Buyer's Agent in 2025

    Craig Marsh

    Marsh Realty

    (301) 875-5978

    25 in this area

    603 Total Sales

    Craig Marsh
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: MDWA2025592

Bright MLS

APN: 22-015702

Maryland Washington County Hagerstown 21740 Central

136 E Franklin St, Hagerstown, MD

This home is located at 136 E Franklin St, Hagerstown, MD 21740 and is currently priced at $700,000, approximately $140 per square foot. This property was built in 1894. 136 E Franklin St is a home located in Washington County with nearby schools including Ruth Ann Monroe Primary School, Eastern Elementary School, and E. Russell Hicks Middle School.

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