Description
Excellent Investor Opportunity to acquire fifteen 100 percent leased scattered site condominiums in Montgomery Village. This unique Montgomery County portfolio offers the savvy investor the ability to significantly increase the cash flow as leases expire (14 of the 15 leases expire by July 2024, while 50% of the leases expire by March, 2024). There is also the ability to execute a for sale strategy to sell the units individually at lease expiration. The investor may also choose to assume the below market 4.9% interest rate. The portfolio is not affected by the new Montgomery County Rent Cap and 2 year lease renewal laws allowing for re-tenanting to increase rents above the current 6% cap. This diverse portfolio includes three 1 bedroom, eight 2 bedroom, one 3 bedroom and three 4 bedroom units. Many have new HVAC unit and new appliances. The tax assessment is for the unit at 8602 Welbeck.
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0BEDS
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0.02ACRES
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0BATHS
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01/2 BATHS
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950SQFT
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$3,579$/SQFT
Description
Excellent Investor Opportunity to acquire fifteen 100 percent leased scattered site condominiums in Montgomery Village. This unique Montgomery County portfolio offers the savvy investor the ability to significantly increase the cash flow as leases expire (14 of the 15 leases expire by July 2024, while 50% of the leases expire by March, 2024). There is also the ability to execute a for sale strategy to sell the units individually at lease expiration. The investor may also choose to assume the below market 4.9% interest rate. The portfolio is not affected by the new Montgomery County Rent Cap and 2 year lease renewal laws allowing for re-tenanting to increase rents above the current 6% cap. This diverse portfolio includes three 1 bedroom, eight 2 bedroom, one 3 bedroom and three 4 bedroom units. Many have new HVAC unit and new appliances. The tax assessment is for the unit at 8602 Welbeck.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-12-01T08:52:34.013.