SoldNov 10, 2020

Listed by Jonathan Rundlett from Exit Deluxe Realty

Source: Bright MLS #MDMC722292

908 Davis Avenue, Takoma Park, MD, 20912

$505,000

3
2627 sq. ft.
5520 sq. ft.

Duplex

30+ days on the market

Sold: Nov 10, 2020

What's around 908 Davis Avenue

About this property

Rare multi-unit investment opportunity in sought after Takoma Park. 3 unit property available subject to the City of Takoma Park Opportunity to Purchase once they have a ratified contract to review. Tenants have already waived their Opportunity to Purchase. This property is subject to rent control with allowable "banked" rent of Unit 1 of $1405, Unit 2 $1078 and Unit 3 $758. Current owner has a family member living in Unit 1 paying $1114 per month but the rent can be increased to the banked rent of $1405 for the next tenant. Unit 1 lease expires September 30, 2020. Unit 2 has tenant that has lived there since 2008 with a current lease expiration of 5/31/21 paying $948 per month and unit 3 has a tenant paying $758 with a lease expiration of 6/30/21. Pictures of Unit 1 are from before current tenant moved in. Owner pays gas and water - tenants pay their own electricity. Purchase as an investment opportunity or move in to one unit and use the rental income from the other units to help pay expenses. Currently tenant occupied so 24 hour notice required to show the property.

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