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Presenting a distinctive seven-unit residential investment property located at 345 N Potomac Street in Hagerstown. The offering includes a substantial historic brick building containing six apartments, together with a separate two-bedroom cottage located at 3 W North Avenue. The main building offers approximately 8,093 square feet and sits on a prominent 19,090 square foot corner parcel with strong street presence, paved parking, garage and storage space. The six-unit building consists of one two-bedroom apartment, four one-bedroom apartments, and one three-bedroom apartment. Five of the six units are currently occupied, producing approximately $6,025 per month in existing rental income. The current market rent indicated for the main building is approximately $7,125 per month, providing immediate upside through the lease up of the vacant one-bedroom unit and continued professional management. The separate cottage contains two bedrooms and one bathroom and is presently vacant. Its indicated market rent is approximately $1,750 per month, creating another meaningful opportunity for a purchaser to increase income shortly after acquisition. Based on the current rent roll, the property generates approximately $72,300 in annual in place rent, with total projected market rent of approximately $106,500 annually once the vacant apartment and cottage are leased. The combination of existing income, two available units, varied apartment sizes, off street parking, garage and storage areas, and a recognizable historic brick exterior makes this a strong value add opportunity for an investor seeking scale in the Hagerstown rental market.
| DAYS ON MARKET | 1 | LAST UPDATED | 7/19/2026 |
|---|---|---|---|
| YEAR BUILT | 1940 | COUNTY | WASHINGTON |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | WASHINGTON COUNTY PUBLIC SCHOOLS |
|---|---|
| High School | NORTH HAGERSTOWN |
| ADDITIONAL DETAILS | |
| AIR | Electric, Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| CONSTRUCTION | Brick |
| HEAT | Natural Gas, Steam |
| LOT | 0.44 acre(s) |
| PARKING | On Street |
| SEWER | Public Sewer |
| TAXES | 5218 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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