700 FAYETTE ST Active Save Request In-Person Tour Request Virtual Tour
Cumberland,MD 21502
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,280 sqft
Price per Sqft $61
MLS Listing ID MDAL2011192
Originating Board BRIGHT
Year Built 1965
Annual Tax Amount $6,057
Tax Year 2024
Lot Size 0.303 Acres
Acres 0.3
Property Sub-Type Five Or More Units
Property Description
PUBLIC AUCTION ON FRIDAY APRIL 4 STARTING AT 10:00 AM. THE LIST PRICE
IS THE RECOMMENDED OPENING BID ONLY. Properties are being offered
individually and as an entirety. Deposits in the form of a cashier's check required of all
bidders at the time of sale: $20,000 for 700 Fayette St; $10,000 for 708 Fayette St and
$25,000 for 635 Washington St. The deposit must be increased to 10% of the purchase
price within 5 days of the date of sale. The properties will be open for viewing 1 hour
prior to the time of sale and by appointment. Broker Participation Offered. Agents must
register their clients at least 48 hours before the auction. See Auctioneer's website for
terms and additional information. DO NOT MISS THIS OPPORTUNITY!A well-established investment property in Mountain Maryland, specifically on the Westside of Cumberland. The property is all brick, durability and low maintenance. being situated on the Westside of Cumberland with a desirable location, convenient access to local amenities. The property offers a substantial 5,280 square feet of living space spread across 6 units. There are 3 units with 2 bedrooms each, there are also 3 units with 1 bedroom each, Additionally, there's an Airbnb unit, which suggests flexibility in rental strategies and potentially higher rental income due to short-term stays. The established leasing indicates a history of generating rental income, which can provide financial stability and potential for growth. The fact that the property backs to woods can be a selling point, offering privacy, tranquility, and potentially attractive views for tenants. Overall, this property offers a solid investment opportunity due to its size, configuration, location, and income-generating potential through both traditional leasing and short-term rentals like Airbnb.
Location
State MD
County Allegany
Area W Cumberland - Allegany County (Mdal3)
Zoning R
Interior
Hot Water Electric
Heating Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Water Access N
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Allegany County Public Schools
Others
Tax ID 0106006981
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction