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Multifamily

2904 Bunker Hill Road

2904 Bunker Hill Rd, Mount Rainier, MD 20712

Listing Price: $728,000

Cap Rate
6.36%
Number of Units
4
Price/Unit
$182,000
Price/Gross SF
$252.78
Gross SF
2,880

Investment Overview

Marcus & Millichap is pleased to represent the owner of 2904 Bunker Hill Road, Mount Rainer, MD 20712. This four-unit apartment has an attractive mix of two three-bedroom/two-level and one-bath units and two two-bedroom/flat units with one bath. Each of the tenants (two market rate and two Voucher tenants) have paid their rent on time throughout the pandemic. Built in 1937, this building has undergone significant renovation over the last five years including a new boiler, new water heater, new sump pump (2), and renovations to all of the units. The tenants pay for their own electric heating and cooking and the owner pays for the heat and water. The building also includes a coin-operated washer/dryer in the utility room as an additional income stream for an owner. This property is also located in a non-rent control market. Mount Rainer is the historic Route 1 gateway community from Prince George's county to Washington, DC's northeastern boundary. Mount Rainer is also within the Gateway Arts District, an area designed by the state and county for revitalization through the development of arts and entertainment-oriented businesses.

Investment Highlights

  • Attractive mix of Three and Two Bedroom Units
  • Renovated units that are separately metered.
  • No Rent Control and 100% rental collections over the last 24 months.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $728,000

Cap Rate
6.36%
Number of Units
4
Price/Unit
$182,000
Price/Gross SF
$252.78
Gross SF
2,880

Investment Highlights

  • Attractive mix of Three and Two Bedroom Units
  • Renovated units that are separately metered.
  • No Rent Control and 100% rental collections over the last 24 months.

Investment Overview

Marcus & Millichap is pleased to represent the owner of 2904 Bunker Hill Road, Mount Rainer, MD 20712. This four-unit apartment has an attractive mix of two three-bedroom/two-level and one-bath units and two two-bedroom/flat units with one bath. Each of the tenants (two market rate and two Voucher tenants) have paid their rent on time throughout the pandemic. Built in 1937, this building has undergone significant renovation over the last five years including a new boiler, new water heater, new sump pump (2), and renovations to all of the units. The tenants pay for their own electric heating and cooking and the owner pays for the heat and water. The building also includes a coin-operated washer/dryer in the utility room as an additional income stream for an owner. This property is also located in a non-rent control market. Mount Rainer is the historic Route 1 gateway community from Prince George's county to Washington, DC's northeastern boundary. Mount Rainer is also within the Gateway Arts District, an area designed by the state and county for revitalization through the development of arts and entertainment-oriented businesses.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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