NOT IN INCORPORATED TAKOMA PARK. Opportunity knocks. Great 3-unit multi-family. Long time tenants. Ground floor unit is 2 bedroom and one bath. Middle unit is 2 bedroom, and one bath. Top floor is 1 bedroom 1 bath. Great pickup for investor or starter investor. Solid brick construction located in the UNINCORPORATED area of Takoma Park. Steps to creek and Long Branch Trail, Takoma Academy, Washington Adventist University and more. Tenant occupied. Listing Agent must accompany on all showings.
Welcome to 903 Erie Avenue, a fantastic opportunity to own a classic brick colonial that has been thoughtfully divided into two distinct units, offering excellent versatility. Live in one unit and rent the other, or use both as a profitable investment. Each apartment has its own electric meter, providing a convenient setup for dual occupancy or income generation. The upper unit (pictured) is approximately 1,000 square feet and boasts a beautifully renovated table-space kitchen with stainless steel appliances, stylish cabinetry, gas cooking, and granite countertops. The spacious living room features a brick accent wall, recessed lighting, and a ceiling fan, creating a perfect space for relaxation. This unit also includes two bedrooms, an office with access to a deck, and an in-unit laundry closet, plus access to the attic for additional storage. The main-level unit, much of the charm of the upper level, with slight variations. It also offers two bedrooms and a office/bonus area. It is currently occupied by a renter on a month-to-month lease, providing immediate income (a little over $2,000/mo.,) for potential buyers. Additionally, the property is outside of the Takoma Park Rent Stabilization area, allowing more flexibility. The outdoor space features mature trees, a deck, a brick patio, and a fenced backyard. Enjoy living in eclectic Takoma Park; the location offers all the allure and convenience of this very special area. Relish the warm sense of community as well as easy access to local shopping, restaurants, entertainment, Sligo Creek Trail, and Long Branch Trail providing both comfort and convenience in an ideal setting.
Investment potential. Single family home with an efficiency apartment in the lower level. Laundry can be shared between the two while maintaining security for both units. Upper house rent approx $3,000. Apartment rent approx $1,500. The main part of the house features a brand new kitchen remodel! Kitchen is open to dining room, new cabinets with soft close doors and drawers, quartz counters, LG appliances, flooring, and lighting. Rounding out the main level is a large family room addition, a sun room addition, and a powder room. Upstairs you'll find the original three bedrooms and a full bath as well as a newer en suite primary bedroom/bathroom addition with a walk in closet. Bedrooms are roomy, bright, and have ceiling fans. The lower/basement level of the home has an efficiency apartment with separate entrance, a proper egress window, and a full kitchen with dishwasher. There's a breakfast bar area for dining as well as room for a queen bed, dresser, desk, and small sofa. The apartment has its own entrance and access to common area laundry. Outside you'll find a community garden and a shady composite deck. Only steps away from bus routes 17, 18, & 25 (maps in documents) which take you through TK and to the TK and SS Metro Stations, as well as the SS MARC. Takoma Park features wonderful restaurants, entertainment, shopping, music, medical care, and culture! Don't miss it!
3 unit multi-family building in Takoma Park! There is (1) 3BR/2BA unit on the main level/basement and (2) 1BR/1BA units on the second floor. Tenants are responsible for all utilities.
The median home value in Takoma Park, MD is $757,500. This is higher than the county median home value of $556,100. The national median home value is $338,100. The average price of homes sold in Takoma Park, MD is $757,500. Approximately 48.29% of Takoma Park homes are owned, compared to 47.87% rented, while 3.84% are vacant. Takoma Park real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Takoma Park real estate agent to arrange a tour today!
Takoma Park, Maryland has a population of 17,610. Takoma Park is more family-centric than the surrounding county with 42.33% of the households containing married families with children. The county average for households married with children is 37.16%.
The median household income in Takoma Park, Maryland is $86,644. The median household income for the surrounding county is $117,345 compared to the national median of $69,021. The median age of people living in Takoma Park is 40.1 years.
The average high temperature in July is 88.3 degrees, with an average low temperature in January of 25.1 degrees. The average rainfall is approximately 43.7 inches per year, with 13.1 inches of snow per year.