New Listing
$113.12 Per Sq Foot $25,231 est/mo Sourced by Back At You

2510-2514 Markham Ln,Hyattsville, MD 20785

Hyattsville MD, 20785

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Description

The condominium community features 10 garden-style brick buildings that are 3 and 4-stories high. There are 61 parking spaces dedicated to the property, and an abundance of off-street parking are available. The units included in the sale features: Studio, 1BR 1BA, 2BR 1BA, 2BR 2BA, and 3BR 1BA. At the time of purchase by the current Seller, the Association was in debt, with significant deferred maintenance and damage. Out of the 61 units in the Association, there were only 8 units paying their monthly dues. The Seller purchased 26 units and gained control of the Association. Seller aggressively pursued delinquent owners. The Seller was able to get most owners to pay their balance to the Association. Over time, the Association acquired 6 units through foreclosure and other means. Today, major capital improvements have been made to the property, including: updated plumbing, water mitigation efforts, and the installation of new roofs. The property has improved its classification toward a Class B standard. The Association is no longer in debt and has reserves. When the Seller purchased the portfolio in October of 2015, the rent roll was approximately $26,000 per month. The currently projected rent roll for the property is approximately $54,450 per month. There is vacant community space in one of the buildings to potentially add a 3BR 2BA unit. 52.73% of the purchase price will be retained by the Association, providing the buyer a discount.

Details

MLS#MDPG2112802
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1963
Days On Site7
Listing Provided ByQuasar Property Management And Real Estate LLC | Kenneth N Brown

Features

SQ Feet41,550
ZoningR18

Market Activity 20785

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Listings Checked: 19 minutes ago
StateMD
CountyPrince Georges
CityHyattsville
Zip Code20785
Community NameKentland
School DistrictPrince George's County Public Sc
Listing VS Median (in Kentland)
Price:
$4,700,000
low | high
Med:
$300,000
100% of Average
SqFt:
41,550
low | high
Med:
1,425
100% of Average
$ / SqFt:
$113
low | high
Med:
$214
39.069345194205% of Average
On Site:
7
low | high
Med:
66.500000
10.526315789474% of Average
Sourced by Back At You
Listing Updated: May 13, 2024 at 3:30:41 PM PDT