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Listed by Jenny Jackson • Charis Realty Group
$ 320,000
Est. payment /mo
Price Dropped by $15K
301 BALTIMORE AVE Cumberland, MD 21502
2,475 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDAL2013112
Year Built 1920
Annual Tax Amount $3,307
Tax Year 2024
Lot Size 2,475 Sqft
Acres 0.06
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
An exceptional mixed-use investment opportunity in the heart of Cumberland. This well-maintained four-unit apartment building with a street-level commercial space offers strong in-place income, upside potential, and long-term stability—all in a convenient downtown location near shops, dining, and everyday amenities.
The property is largely occupied and thoughtfully updated, making it a turnkey addition to any portfolio. The ground-floor commercial space features prominent street-facing windows, ideal for office, retail, or storage use, creating an additional revenue stream and flexibility for future tenants or owner use.
Each residential unit is separately metered for electric and water, helping minimize owner expenses and simplify management.
Unit Breakdown:
- Unit 1: 1BR/1BA — Rented at $901/month. Features hardwood floors, in-unit laundry, and a new hot water heater.
- Unit 2: 2BR/2BA — Rented at $822/month. Currently undergoing improvements, including new flooring in one bedroom.
- Unit 3: 2BR/2BA — rented at $950/month. Offers hardwood floors, in-unit laundry, an open kitchen with island, and stunning city and mountain views—prime for immediate lease-up at market rate.
- Unit 4: 1BR/1BA — Rented at $900/month. Recently updated with new carpet and flooring, fresh paint, new countertops, and a new hot water tank. Includes central air.
Additional improvements include a fully waterproofed basement (2024) with a new sump pump, providing peace of mind and reduced maintenance concerns.
With multiple income streams, solid rental history, and value-add potential through lease optimization and commercial use, this property delivers both immediate cash flow and long-term appreciation in a steadily revitalizing downtown market.
The property is largely occupied and thoughtfully updated, making it a turnkey addition to any portfolio. The ground-floor commercial space features prominent street-facing windows, ideal for office, retail, or storage use, creating an additional revenue stream and flexibility for future tenants or owner use.
Each residential unit is separately metered for electric and water, helping minimize owner expenses and simplify management.
Unit Breakdown:
- Unit 1: 1BR/1BA — Rented at $901/month. Features hardwood floors, in-unit laundry, and a new hot water heater.
- Unit 2: 2BR/2BA — Rented at $822/month. Currently undergoing improvements, including new flooring in one bedroom.
- Unit 3: 2BR/2BA — rented at $950/month. Offers hardwood floors, in-unit laundry, an open kitchen with island, and stunning city and mountain views—prime for immediate lease-up at market rate.
- Unit 4: 1BR/1BA — Rented at $900/month. Recently updated with new carpet and flooring, fresh paint, new countertops, and a new hot water tank. Includes central air.
Additional improvements include a fully waterproofed basement (2024) with a new sump pump, providing peace of mind and reduced maintenance concerns.
With multiple income streams, solid rental history, and value-add potential through lease optimization and commercial use, this property delivers both immediate cash flow and long-term appreciation in a steadily revitalizing downtown market.
Location
State MD
County Allegany
Area S Cumberland - Allegany County (Mdal2)
Zoning R-O
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Hardwood
Heat Source Natural Gas
Exterior
Water Access N
View City, Mountain
Roof Type Other
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools West Side
Middle Schools Braddock
High Schools Allegany
School District Allegany County Public Schools
Others
Tax ID 0122009443
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
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