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Dan Metcalf 

Dan Metcalf & Meg Finn
for Takoma Park and
Silver Spring real estate

301-830-1221

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Listing 21 out of 59
$925,000 For Sale

308 Patterson Court
Takoma Park, MD 20912

Multi Family Home
10019 sq ft lot - MLS# MDMC667398
Property Photo
1/82

Description

This is 7 units (not 4) - 5 x 1BR and 2 efficiencies. 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 5 one-bedroom units and 2 large studios; 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 circuite breaker. There's a separate laundry room in the basement with leased machines and rental income averages $300 per quarter. 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.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Montgomery County
  • Zip Code: 20912
  • Year Built: 1934
  • Subdivision/Neighborhood: Takoma Park
  • School District: Montgomery County Public Schools
  • Elementary School: Rolling Terrace
  • Middle School: Silver Spring International
  • High School: Montgomery Blair
  • Basement: Yes, Partial, Side Entrance, Walkout Stairs, Full, Windows
  • Lot Size: 10019 sq ft lot
  • Zoning: R10
  • # of Assigned Spaces: 7
  • Above Grade Fin SQFT Source: Assessor
  • Above Grade Finished Area Units: Square Feet
  • Annual Rental Income: $88391.00
  • Appliances: Refrigerator, Stove
  • Below Grade Fin SQFT Source: Assessor
  • Below Grade Finished Area Units: Square Feet
  • Below Grade Unfin Area Units: Square Feet
  • Below Grade Unfin SQFT Source: Assessor
  • Building Level Count: 3
  • Building Units Total: 4
  • Cap Rate: 5.89
  • Construction Materials: Brick
  • Cooling: Electric
  • Cooling Type: Window Unit(s)
  • Directions: From 495 take University Blvd east, right on Carroll Ave. R on Long Branch Pkwy, L on Patterson
  • Exterior Features: Sidewalks, Street Lights, Exterior Lighting
  • Flooring Type: Carpet, Wood, Ceramic Tile
  • Gross Income: $88391.00
  • Gross Scheduled Income: 88391.00
  • Heating: Natural Gas
  • Heating Type: Radiator
  • Heating Y/N: Yes
  • Hot Water: Natural Gas
  • Improvements: Above Grade, Below Grade
  • Income Includes: Apartment Rentals, Laundry
  • Insurance Expense: 3601.00
  • Interior Features: 2nd Kitchen, Attic, Dining Area
  • Land Use Code: 003
  • Lot SQFT: 10,076
  • Lot Size Source: Estimated
  • Lot Size Units: Square Feet
  • Net Operating Income: 58852.00
  • Number Of Units Month To Month: 4
  • One Bedroom Units Count: 5
  • Operating Expense Includes: Trash, Snow Removal, Parking, Insurance, Advertising
  • Owner Pays: Accounting/Legal, Advertising/Licenses and Permits, Air Conditioning, Electricity, Gas, Heat, Management, Lawn/Shrub Care, Insurance, Miscellaneous, Pest Control, Repairs, Sewer, Snow Removal, Sewer Maintenance, Supplies, Taxes - Real Estate, Water
  • Ownership Interest: Fee Simple
  • Parking Features: Assigned
  • Photo Option: Lister Will Upload All
  • Property Condition: Average+
  • Road Surface Type: Paved
  • Roof: Asphalt
  • SchoolDistrictSource: Listing Agent
  • Sewer Septic: Public Sewer
  • Single Room Units Count: 2
  • Tax Annual Amount: 7326.0
  • Tax Year: 2018
  • Total Below Grade SQFT Source: Assessor
  • Total Finished SQFT Source: Assessor
  • Total SQFT Source: Assessor
  • Trash Expense: 629.00
  • Type Of Parking: On Street
  • Units Leased Count: 7
  • Utilities: Cable TV Available, Electric Available, Multiple Phone Lines, Sewer Available, Water Available
  • Water Source: Public
  • Window Features: Double Pane
  • Year Built Source: Owner
  • Zoning Description: Multi-Family/Apartments
Courtesy of Long & Foster Real Estate, Inc.

Dan Metcalf | 301-830-1221 | Contact Me
Meg Finn | 
301-602-5810

Finn Family Group - One Columbia Ave - Takoma Park, MD 20912 | 301-270-7026
Long & Foster's #1 Team, Montgomery County 2016!
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