308 Patterson Court

    TAKOMA PARK, MD 20912
    • $925,000
    • STATUS: Active
    • ON SITE: 59 days
    • ID#: MDMC667398
    UPDATED: 26 min ago
    $925,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1934
    County:

    School Information

    Elementary School:
    High School:

    Description

    This is 7 units (not 4) - 5 x 1BR and 2 efficiencies. This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 5 one-bedroom units and 2 large studios; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas fired hot water heaters, and the electric box has been upgraded to circuite breaker. There's a separate laundry room in the basement with leased machines and rental income averages $300 per quarter. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. Gutters and downspouts are new. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you are able to set market rents in the future.

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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-09-17T11:54:41.6.
    www.thegusanthonyteam.com/homes/97101618

    308 Patterson Court TAKOMA PARK, MD 20912

    • Price: $925,000
    • Status: Active
    • Updated: 26 min ago
    • ID#: MDMC667398
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    1934
    Built
    Neighborhood:
    Takoma Park
    County:
    Montgomery
    Elementary School:
    Rolling Terrace
    Middle School:
    Silver Spring International
    High School:
    Montgomery Blair
    School District:
    Montgomery County Public Schools
    Property Description
    This is 7 units (not 4) - 5 x 1BR and 2 efficiencies. This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 5 one-bedroom units and 2 large studios; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas fired hot water heaters, and the electric box has been upgraded to circuite breaker. There's a separate laundry room in the basement with leased machines and rental income averages $300 per quarter. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. Gutters and downspouts are new. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you are able to set market rents in the future.
    Exterior Features

    Architectural Style Other Assigned Parking Spaces 7 Construction Materials Brick Exterior Features SidewalksStreet LightsExterior Lighting Garage YN No Other Structures Above GradeBelow Grade Parking Features Assigned Parking Types On Street Pool No Pool Property Condition Average+ Riparian Rights YN No Road Surface Type Paved Roof Asphalt Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Above Grade Fin SQFT 0 Appliances RefrigeratorStove Basement PartialSide EntranceWalkout StairsFullWindows Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Window Unit(S) Fireplace YN No Fireplaces Total 0 Flooring CarpetWoodCeramic Tile Heating Radiator Heating YN Yes Interior Features 2nd KitchenAtticDining Area Single Room Units 2 Spa YN No Three Bedroom Units 0 Two Bedroom Units 0

    Property Features

    Acceptable Financing CashOther Accessibility Features None Assessment Year 2019 Association YN No Central Air YN No Cooling Fuel Electric Cross Street Long Branch Parkway Existing Lease Type YearlyMonth To Month Front Foot Fee 0.00 Gross Income 88391.00 Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Insurance Expense 3601.00 Navigable Water YN N Net Operating Income 58852.00 New Construction YN No Number Of Units Leased 7 Number Of Units Total 4 Number Of Units Vacant 0 Operating Expense Includes TrashSnow RemovalParkingInsuranceAdvertising Original MLSNumber 301845227558 Owner Pays Accounting/LegalAdvertising/Licenses And PermitsAir ConditioningElectricityGasHeatManagementLawn/Shrub CareInsuranceMiscellaneousPest ControlRepairsSewerSnow RemovalSewer MaintenanceSuppliesTaxes - Real EstateWater Ownership Interest Fee Simple Possession Settlement Property Sub Type Other Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 7326.0 Tax Assessment Amount 645700.0 Tax Lot P15 Total Actual Rent 88391.00 Trash Expense 629.00 Utilities Cable Tv AvailableElectric AvailableMultiple Phone LinesSewer AvailableWater Available Vacation Rental YN No Water Source Public Window Features Double Pane Zoning R10 Zoning Description Multi-Family/Apartments

    Listing courtesy of Long & Foster Real Estate, Inc..
    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-09-17T11:54:41.6.
     
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