345 N POTOMAC ST, Hagerstown, MD 21740

Property Description

Presenting a distinctive seven-unit residential investment property located at 345 N Potomac Street in Hagerstown. The offering includes a substantial historic brick building containing six apartments, together with a separate two-bedroom cottage located at 3 W North Avenue. The main building offers approximately 8,093 square feet and sits on a prominent 19,090 square foot corner parcel with strong street presence, paved parking, garage and storage space. The six-unit building consists of one two-bedroom apartment, four one-bedroom apartments, and one three-bedroom apartment. Five of the six units are currently occupied, producing approximately $6,025 per month in existing rental income. The current market rent indicated for the main building is approximately $7,125 per month, providing immediate upside through the lease up of the vacant one-bedroom unit and continued professional management. The separate cottage contains two bedrooms and one bathroom and is presently vacant. Its indicated market rent is approximately $1,750 per month, creating another meaningful opportunity for a purchaser to increase income shortly after acquisition. Based on the current rent roll, the property generates approximately $72,300 in annual in place rent, with total projected market rent of approximately $106,500 annually once the vacant apartment and cottage are leased. The combination of existing income, two available units, varied apartment sizes, off street parking, garage and storage areas, and a recognizable historic brick exterior makes this a strong value add opportunity for an investor seeking scale in the Hagerstown rental market.

Listing Status:

Active

Data Last Updated:

August 6, 2026 at 1:18AM

Listing Office:

RG Realty, Inc. : 2402036393

Listing Agent:

Roberto G. Gonzalez : 3019910207

MLS ID:

MDWA2038736

Interior

• A/C: Window Unit(s)
• Heating: SteamNatural Gas
• Disability Feature: None

Construction

• General: Brick

Location

• Originating MLS: BRIGHT_MAIN
• School District: WASHINGTON COUNTY PUBLIC SCHOOLS
• County: WASHINGTON-MD

Lot

• Zoning: RO2225023811

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN