802804 Gephart Drive

Cumberland MD 21502

11352 sq. ft.

4211 sq. ft.

Other

Currently for sale - view listing

Overview

Welcome to 802-804 Gephart Drive! If you have been looking for a great low- maintenance investment property generating great monthly income- look no further! This 8-unit apartment building is halfway leased with #5 tenant moving in this month. The 3 vacant units are ready to be moved in! Each unit has electrical updates as well as separate water meters in the basement so that all utilities are directly in the tenants name! The 3 bedroom units have an electric heat pump and the 1 bedroom units have gas heat and stoves. Recent upgrades to the property include a new roof, new windows, new plumbing fixtures, and new hot water heaters. Lots of character to be found including pocket doors in many units and and porches on the top two units. On street parking in the front of the property but more on street parking to be found in the rear of the building with an entrance to the building from the rear as well. Close to I-68 entrance and located in between Cumberland and LaVale, making this a very convenient location! Current month income with 5 units is $4,200 and fully rented would be $6,500 with current 1 year leases. Run the numbers and then run to get a showing before someone else starts making passive income on this property!