229 Union StCumberland, MD 21502

For Sale
$299,900

Five-unit brick building, excellent investment

Overview

Added:
Dec 11, 2024
Days on market:
93
This well-maintained, five-unit apartment building is located in the heart of downtown Cumberland, Maryland, just two blocks from restaurants and attractions. Boasting 5,160 square feet, this fee-simple property offers a compelling investment opportunity at $299,900 ($58.12/sq ft and $59,980/unit). The solid brick construction ensures durability, while recent upgrades include a complete overhaul of the building's electrical systems. The city has also invested in infrastructure improvements, updating all water and gas lines. Each of the five units is currently rented, providing immediate cash flow. Further income potential exists through a basement laundry facility equipped with two coin-operated washers and dryers, and a rentable garage for additional storage. Enjoy stunning views of the Allegany Mountains, and benefit from the property's proximity to Amtrak and Western Maryland Railroad stops, as well as the C&O Canal. This property presents a rare chance to acquire a profitable, well-situated multifamily investment in a vibrant downtown location.

Highlights

  • $299,900 asking price for this five-unit apartment building.
  • Fee simple ownership in a solid brick building.
  • 5,160 square feet with a price per square foot of $58.12.
  • Located in downtown Cumberland, MD, two blocks from restaurants and attractions.
  • Five units, plus a basement laundry facility with coin-operated washers and dryers, and a rentable garage.

Property Details for 229 Union St

Property type
Multifamily properties, Apartment buildings
Square Feet
5,160 SF
Units
5

Location Insight

City
Cumberland
County
Allegany
State
Maryland
Latitude
39.651631479891
Longitude
-78.756575682423
229 Union St, Cumberland, Maryland

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229 Union St
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