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 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 purchase d the portfolio in October of 2015, the rent roll was approximately $26, 000 per mnth. 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.

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on 2510-2514 Markham Ln
in Hyattsville, MD
Presented by Kenneth Brown at
Quasar Property Management And Real Estate Llc.


Property MLS #MDPG2115018 from BrightMLS

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+ Heating and Cooling

Cooling Features: Central A/C
Heating Features: Forced Air
Heating: Yes

+ Garage and Parking

Parking Features: Parking Lot Spaces: 61, Parking Lot
Parking Total: 61

+ Multi-Unit Info

Number of Units: 4
Number of 1 Bedroom Units: 10
Number of 2 Bedroom Units: 18
Number of 3 Bedroom Units: 3

+ School Information

School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
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Dodge Park Elementary School is a public elementary school located approximately 0.6 miles away.
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Fairmont Heights High School is a public high school located approximately 1.1 miles away.
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G. James Gholson Middle School is a public middle school located approximately 1.5 miles away.
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Highland Park Christian Academy is a private elementary and middle school located approximately 1.2 miles away.
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+ Other Property Info

Annual Tax Amount: 35457.0
Source Listing Status: Active
County: PRINCE GEORGES
Source Property Type: Multi-Family
Area: PRINCE GEORGES
Source Neighborhood: KENTLAND
Subdivision: KENTLAND
Source System Name: C2C
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Listed 2024-06-03
$4,700,000
BrightMLS

+ Building and Construction

Total Square Feet Living: 41550
Year Built: 1963
Construction Materials: Brick
Property Age: 61
Structure Type: Twin/Semi-Detached
Architectural Style: Twin/Semi-Detached