$480,000
700 FAYETTE ST Cumberland, MD 21502
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$480,000
Est. payment /mo
6,160 SqFt
Active
700 FAYETTE ST Cumberland, MD 21502
UPDATED:
10/17/2024 05:42 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,160 sqft
Price per Sqft $77
MLS Listing ID MDAL2009494
Originating Board BRIGHT
Year Built 1965
Annual Tax Amount $6,057
Tax Year 2024
Lot Size 0.303 Acres
Acres 0.3
Property Description
A well-established investment property in Mountain Maryland, specifically on the Westside of Cumberland. The property is all brick, durability and low maintenance. being situated on the Westside of Cumberland with a desirable location, convenient access to local amenities. The property offers a substantial 5,280 square feet of living space spread across 6 units. There are 3 units with 2 bedrooms each, there are also 3 units with 1 bedroom each, Additionally, there's an Airbnb unit, which suggests flexibility in rental strategies and potentially higher rental income due to short-term stays. The established leasing indicates a history of generating rental income, which can provide financial stability and potential for growth. The fact that the property backs to woods can be a selling point, offering privacy, tranquility, and potentially attractive views for tenants. Overall, this property offers a solid investment opportunity due to its size, configuration, location, and income-generating potential through both traditional leasing and short-term rentals like Airbnb.
Location
State MD
County Allegany
Area W Cumberland - Allegany County (Mdal3)
Zoning R-L
Interior
Hot Water Electric
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Waterfront N
Water Access N
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Allegany County Public Schools
Others
Tax ID 0106006981
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Stephen MacGray • Charis Realty Group
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