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    308 Patterson Court

    TAKOMA PARK, MD 20912
    • $895,000
    • STATUS: Active
    • ON SITE: 32 days
    • ID#: MDMC727618
    UPDATED: 17 min ago
    $895,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1934
    County:

    School Information

    Elementary School:
    High School:

    Description

    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 6 one-bedroom units and 1 large studio; 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 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 a circuit breaker. There's a separate laundry room in the basement with leased machines and rental income. 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. No tenants missed a payment since COVID19 started! FULLY RENTED. All units licensed and inspected by Montgomery County. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. Windows, 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. Current Gross Income $93,970 per year - see Income/Expenses for details. Floor Plan & photos https://www.308pattersonct.com

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    ©2020 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 accurate by the MLS or The Redux Group | Keller Williams. 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: 2020-10-31T14:51:27.75.
    dmv.thereduxgroup.com/homes/110468711
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    308 Patterson Court TAKOMA PARK, MD 20912

    • Price: $895,000
    • Status: Active
    • Updated: 17 min ago
    • ID#: MDMC727618
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    1934
    Built
    Neighborhood:
    Wheaton Outside
    County:
    Montgomery
    Elementary School:
    Rolling Terrace
    Middle School:
    Silver Spring International
    High School:
    Montgomery Blair
    School District:
    Montgomery County Public Schools
    Property Description
    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 6 one-bedroom units and 1 large studio; 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 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 a circuit breaker. There's a separate laundry room in the basement with leased machines and rental income. 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. No tenants missed a payment since COVID19 started! FULLY RENTED. All units licensed and inspected by Montgomery County. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. Windows, 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. Current Gross Income $93,970 per year - see Income/Expenses for details. Floor Plan & photos https://www.308pattersonct.com
    Exterior Features

    Construction Materials Other Direction Faces East Door Features Storm Garage YN No Location Type Suburban Lot Features ClearedBacks To TreesRear Yard Parking Features Lighted ParkingPaved ParkingPrivateUnassigned Parking Types Parking Lot Property Condition Good Riparian Rights YN No Road Responsibility City/County Road Surface Type Paved Roof Asphalt View StreetTrees/Woods Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 4200.00 Cooling Window Unit(S) Flooring CarpetCeramic TileWood Heating Radiator Heating YN Yes Net Square Feet 4200.00

    Property Features

    Acceptable Financing CashOtherConventional Accessibility Features None Annual Gross Expense 93970.00 Association YN No Business Type Apartment Building Central Air YN No Cooling Fuel Electric Cross Street Long Branch Parkway Foundation Details BlockSlab Gross Income 93970.00 Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Insurance Expense 3852.00 Internet Services DslFiber Optic Lease Considered YN No Maintenance Expense 6027.00 Navigable Water YN N Net Operating Income 63129.00 New Construction YN No Number Of Units Total 7 Operating Expense 30841.00 Operating Expense Includes ParkingSnow RemovalTrashInsuranceAdvertisingRepair/MaintenanceSewerWaterLandscapingHeating/CoolingElectricPest Control Original MLSNumber 304321159755 Owner Pays Accounting/LegalAdvertising/Licenses And PermitsAir ConditioningElectricityGasHeatManagementLawn/Shrub CareInsuranceMiscellaneousPest ControlRepairsSewerSewer MaintenanceSnow RemovalSuppliesTaxes - Real EstateWater Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 7795.00 Tax Assessment Amount 673900.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileMetro/Subway Station 1 To 3 Miles Utilities Cable Tv AvailableElectric AvailableMultiple Phone LinesSewer AvailableWater Available Vacation Rental YN No Water Source Public Zoning R10 Zoning Description Multi-Family High Density Residential

    Listing courtesy of Long & Foster Real Estate, Inc..


    ©2020 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 accurate by the MLS or The Redux Group | Keller Williams. 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: 2020-10-31T14:51:27.75.
     
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