1400 Haven Rd, Hagerstown, MD 21742, USA
$4,450,000 104 units
Hagerstown, at the intersection of I-70 and I-81 in Western Maryland, is one of the fastest growing regions in Maryland. Acquiring the Northspring Rental Community represents an outstanding opportunity to own a valuable asset that will provide positive investment returns for many years to come. With 63% occupancy as a result of aging ownership, there is a tremendous opportunity to make repairs and improvements to upgrade the appeal and performance in this community. For example, current rents are 20% to 50% below what better maintained properties command in this market. Unit mix is well balanced at 25% one-bedroom, 50% two-bedroom, and 25% three-bedroom units. Property is certified lead-free.