Opportunity to own 15 unit apartment building with little turnover close to college and City of Takoma Park amenities. Lots of upside in rents by using City of Takoma Park regulations to create rent increases. Owner is open to 1031 Exchanges. Bring your offers early because this property subject to Right of First Refusal by Montgomery County/Takoma Park. Rent rolls, lead certificates, operating expenses, etc. attached as disclosures. OWNER FINANCING - owner will consider holding small first or second with large down payment. Terms offered: 5% interest only payments for approx. 5 years with balloon at termination of balloon. If you are considering converting these apartments to a condominium, please google the Maryland Condominium Conversion Act (promulgated out of the MD Secretary of State's Office) which is 56 pages long and is available online.
Listing courtesy of CASAS Real Estate, Inc..