308 Patterson Ct

$895,000, .23 Acres

About This Property

This is 7 units (not 4) -6 x 1BR and 1 efficiency. This Brick and Stucco Tudor Style detached multifamily is in a great location on a quiet cul-de-sac next to Long Branch Park trail and yet just a block from Carroll Avenue leading to downtown Takoma Park Historic Area Restaurants and Stores one way, and Takoma/Langley future Purple Line station and shopping Mall in the other. Buses in all directions and close by Columbia Union University. This is a hot location that renters desire. Easy to rent with 6 one-bedroom units and 1 large studio; all completely self-contained with own bathrooms and kitchen. Better still it is outside of the City limits so not subject to the Rent Stabilization Law and is in fact in unincorporated Montgomery County. It features common gas hot water radiator heating; the best type that tenants love. There are two gas-fired hot water heaters, and the electric box has been upgraded to a circuit breaker. There's a separate laundry room in the basement with leased machines and rental income. There's parking for 7 cars in the rear of the property and more out front. It's a pretty lot with a grassy area and hedge in the rear with room for tenants to stroll and just 50 yards away is the Long Branch Park trail that runs in both directions for jogging/walking. All units currently rented and room for future improvements with unfinished attic space and balcony not currently in use. They were all inspected in April 2019 by Montgomery County and passed. 3 units are recently completely remodeled and the seller has spent 100K in recent improvements/repairs. 7.46% cap rate. Gutters and downspouts are new. Here is a great opportunity to get into the multi-family housing market in a pleasant location where you are able to set market rents in the future.

Essential Information

MLS® #MDMC667398
Price$895,000
Bathrooms0.00
Acres0.23
Year Built1934
TypeMulti-Family
Sub-TypeOther
StyleOther
StatusActive Under Contract

Community Information

Address308 Patterson Ct
SubdivisionTAKOMA PARK
CityTAKOMA PARK
CountyMONTGOMERY-MD
StateMD
Zip Code20912

Amenities

AmenitiesAttic

Utilities

Multiple Phone Lines, Water Available, Sewer Available, Electric Available, Cable TV Available

Parking

Asphalt Driveway, Private, Unassigned

Interior

AppliancesRefrigerator, Stove
HeatingRadiator
CoolingWindow Unit(s)
Has BasementYes
FireplaceYes
# of Fireplaces1
# of Stories3

Basement

Full, Windows, Partial, Walkout Stairs, Side Entrance

Exterior

ExteriorBrick and Siding
WindowsDouble Pane
RoofAsphalt

Exterior Features

Street Lights, Sidewalks, Exterior Lighting

School Information

ElementaryROLLING TERRACE
MiddleSILVER SPRING INTERNATIONAL
HighMONTGOMERY BLAIR

District

MONTGOMERY COUNTY PUBLIC SCHOOLS

Additional Information

Date ListedJuly 19th, 2019
Days on Market208
ZoningR10

Listing Details

Office

Long & Foster Real Estate, Inc.

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than Compass are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2020.

Listing information last updated on April 4th, 2020 at 12:03am CDT.

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