308 Patterson Ct

$895,000, 4,200 Sqft .23 Acres

About This Property

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. 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. Current Income $95,271 per year - separate licensed units Off-street parking for 7 cars Close to Park w/trails Near to Bus Stop Gas Radiator Heating Mostly Thermal Windows Recent Updates! Not Subject to Takoma Park Rent Stabilization Law! Close to future Purple LIne Station. Floor Plan & photos https://www.308pattersonct.com

Essential Information

MLS® #MDMC671432
Price$895,000
Bathrooms0.00
Square Footage4,200
Acres0.23
Year Built1934
TypeCommercial Sale
Sub-TypeFive Or More Units
StatusActive

Community Information

Address308 Patterson Ct
SubdivisionWHEATON OUTSIDE
CityTAKOMA PARK
CountyMONTGOMERY-MD
StateMD
Zip Code20912

Amenities

ViewStreet, Trees/Woods

Utilities

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

Interior

HeatingRadiator
CoolingWindow Unit(s)
# of Stories3

Exterior

RoofAsphalt
FoundationBlock, Slab

Lot Description

Cleared, Backs to Trees, Rear Yard

School Information

ElementaryROLLING TERRACE
MiddleSILVER SPRING INTERNATIONAL
HighMONTGOMERY BLAIR

District

MONTGOMERY COUNTY PUBLIC SCHOOLS

Additional Information

Date ListedJuly 30th, 2019
Days on Market264
ZoningR10

Listing Details

Office

Long & Foster Real Estate, Inc.

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Listing information last updated on July 13th, 2020 at 1:51am CDT.

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