112 Lee Avenue, Takoma Park, MD 20912

$1,999,500
List Price
$1,999,500
Closing Date
Oct 15, 2021
Days on Market
45
Status
PENDING
MLS#
MDMC758494
Lot Size (Acres)
0.41
Year Built
1958
County
Montgomery
School District
Montgomery County Public Schools

Property Description

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.

Additional Information

Taxes
$21046
School District
Montgomery County Public Schools
Flooring
Ceramic Tile, Hardwood, Vinyl, Wood
View
City
Heating
Hot Water, Radiator
Heating Fuel
Natural Gas
Cooling
Window Unit(s)
Roof
Flat
Utilities
Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Water
Public
Sewer
Public Sewer

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of CASAS Real Estate, Inc..