• 0 / 0
  • 321
  • 1934
  • 10,019
Active Status Other
Check Drive Time
See how long it takes to get to work. Change

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. 6.47% cap rate. 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.

Address: 308 PATTERSON CT
State: MD
City: Takoma Park
Zip Code: 20912
Neighborhood: Takoma Park
MLS#: MDMC667398
MLS Area:
Taxes: $7,470

Price History

Date Price Event Change MLS#:
2/11/2020 $895,000 List Price -3.24% MDMC671432
7/19/2019 $925,000 List Price MDMC667398

Assigned School Zones

  • Elementary School:Rolling Terrace
  • Middle School:Silver Spring International
  • High School:Montgomery Blair

Nearby Schools

Sligo Adventist School(Preschool-8)3
Rolling Terrace Elementary School(Preschool-5)
Carole Highlands Elementary School(Preschool-6)4
Piney Branch Elementary School(3-5)
New Hampshire Estates Elementary School(Preschool-2)
Langley Park/Mccormick Elementary School(Preschool-6)
Takoma Park Elementary School(Preschool-2)
Sligo Adventist School(Preschool-8)3
Carole Highlands Elementary School(Preschool-6)4
Langley Park/Mccormick Elementary School(Preschool-6)
Takoma Academy(9-12)4
Don Bosco Cristo Rey High School(9-11)
Don Bosco Cristo Rey High School(9-12)4

Interior Details

  • Appliances:Refrigerator, Stove
  • Amenities:7
  • Features:2Nd Kitchen, Attic, Dining Area
  • Furnished:
  • Floor Type:Carpet, Wood, Ceramic Tile
  • Cooling:Window Unit(S)
  • Heating:Radiator
  • Fuel:Natural Gas
  • Extras:None
  • Other Rooms:

Exterior Details

  • Home Construction
  • Features:Sidewalks, Street Lights, Exterior Lighting
  • Exposure:
  • Roof Type:Asphalt
  • Garage Spaces:
  • Pool:No
  • Utilities:Cable TV Available,Electric Available,Multiple Phone Lines,Sewer Available,Water Available
  • Lot Description:
  • Parking:Assigned
  • Sewer:Public Sewer
  • Road:Paved

Community Details

Rental Information

  • Rental Income:$0
  • Rental Number:0
  • Directions:From 495 take University Blvd east, right on Carroll Ave. R on Long Branch Pkwy, L on Patterson

Similar Properties

Property Information Last Updated: 12/19/2018 4:17:56 PM
Property Listed By Long & Foster Real Estate, Inc.