Address
7405 Columbia Avenue, College Park, MD
Price
$ 1,399,000
Property Attributes
- MLS#MDPG2089872
- TypeContingent
- CountyPRINCE GEORGES
- CityCollege Park
- NeighborhoodCollege Park
- Zip20740
- StyleColonial
- Year Built1915
- Taxes$ 13552
- Price$ 1,399,000
- Bedrooms9
- Full Bathrooms0
- Half Bathrooms0
- Lot Size10,890 SqFt
Data Source:
Bright MLS
Property Description
Don't Miss Your Chance to Own this 7 Unit, turnkey, fully leased Multifamily property in the rarely available and in demand Old Town Section of College Park, Maryland. This 3 level home is very close to the University of Maryland and is an excellent income producing property for the right investor. Great opportunity to update and add value to this property on so many levels to maximize cash flow. This fabulous property features 7 individual rental units. All units feature one bedroom and a kitchen except the basement unit which has 3 bedrooms. The 3 bedroom basement apartment has its own separate entrance. Each unit is separately metered for easy management of individual tenants. A common laundry facility is in the basement of the property and features several machines shared by all tenants. Parking is never an issue here as the property comes with a huge gravel lot that surrounds the building, plus an enclosed 2 car garage with extra storage space. The property also has 2 newer Hot Water Heaters. Property SOLD AS IS. Current Monthly Rents and Lease Expirations include: Unit 1: $1,575.00 per month, lease runs through 7/15/2024 (3 Br, 1Ba) Unit 2: $1,050.00 per month, lease runs through 7/14/2024 (1Br, 1Ba) Unit 3: $927.00 per month, lease runs through 5/31/2024 (1Br, 1Ba) Unit 4: $927.00 per month, lease runs through 5/31/2024 (1Br, 1Ba) Unit 5: $1,050.00 per month, lease runs through 7/15/2024 (1Br, 1Ba) Unit 6: $1,050.00 per month, lease runs through 7/31/2024 (1Br, 1Ba) Unit 7: $875.50 per month, lease runs through 11/30/2023 (1Br, 1Ba) Total income: $7,454.50
| Price History | |
|---|---|
| 9/6/2023 | Listed $1,495,000 |
| 10/9/2023 | 7% - $1,399,000 |
General Features
| Interior Features | Carpet,Efficiency,Floor Plan - Open,Kitchen - Table Space |
|---|---|
| Sewer | Public Sewer |
| Heating | Hot Water |
| Cooling | Central A/C |
| Possession | Settlement,Subject to Existing Lease |
| Roof | Composite |
| Appliances | Oven/Range - Electric,Stove |
| Zoning | RSF65 |
| Garage Spaces | 2.00 |
| Pool Y/N | No Pool |
| Architectural Style | Colonial |
| Construction Materials | Combination |
| Year Built | 1915 |
| Property SubType | Quadruplex |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Gross Income | 7454.00 |
| Contingency Type | Home Inspection |
| OwnerPays | Gas,Sewer,Water |
| Accessibility | None |
| County | PRINCE GEORGES |
| New Construction | No |
| Property Type | Multi-Family |
| Subdivision Name | COLLEGE PARK |
| Garage Y/N | Yes |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Transportation | Bus Stop less than 1 mile,Metro/Subway Station less than 1 mile |
| Status | ACTIVE UNDER CONTRACT |
| Directions | see map |
| ModificationTimestamp | 2024-04-09T12:03:35 |
| City | COLLEGE PARK |
| Buyer Agent Compensation | 2.5 |
| Disclosures | Lead Based Paint - Federal |
| Total Units | 4 |
| Lot Size Square Feet | 10687.00 |
| Tax Assessed Value | 773367.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 7 |
| Street Name | COLUMBIA |
| Tax Annual Amount | 13552.0 |
| Property Condition | Good |
| Structure Type | Detached |
| One Bedroom Units Count | 6 |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 5,Unit 3,Unit 6,Unit 7 |
| Price Per Sq Ft | 407.16 |
| Vacation Rental Y/N | No |
| Total SQFT | 5154 |
| Days on Market | 146 |
| Lease Type | Yearly |
| Standard Status | Active Under Contract |
| Year Built Source | Estimated |
| Legal Subdivision | COLLEGE PARK- |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Flooring | Carpet |
| Hot Water | Natural Gas |
| Total Stories | 3 |
| Furnished Units | None |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | AVENUE |
| Central Air Y/N | Yes |
| LivingAreaSource | Estimated |
| Three Bedroom Units Count | 1 |
Exterior Features
| Parking Features | Fenced,Private,Surface |
|---|---|
| Lot Features | Backs to Trees |
| Water Source | Public |
| Total Parking Spaces | 18 |
| Garage Features | Garage - Front Entry |
| Type of Parking | Off Site,On Street,Parking Lot,Driveway,Detached Garage |
| Land Use Code | M |
| Foundation Details | Slab |
| Water View Y/N | No |
| Lot Size Acres | 0.25 |
| Lot Size Units | Square Feet |
| Lot Size Source | Estimated |
| Land Assessed Value | 130400.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| # of Detached Garage Spaces | 2 |
| Parking Lot - # of Spaces | 16 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 20740
Price
Taxes
Visits
Year Built
Walkscore
© BRIGHT, All Rights Reserved
