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1121 COLORA RD Colora, MD 21917
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Key Details
Sold Price $275,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 4,070 sqft
Price per Sqft $67
Subdivision Colora
MLS Listing ID MDCC2003446
Sold Date 05/18/22
Style Farmhouse/National Folk
Abv Grd Liv Area 4,070
Originating Board BRIGHT
Year Built 1870
Annual Tax Amount $1,701
Tax Year 2021
Lot Size 0.310 Acres
Acres 0.31
Property Description
Motivated Seller offers this unique triplex in Colora Maryland is one of a kind. With a cap rate of 12% and current monthly rents being $3,440 with the potential to increase that to $4,010 this property is any investor's dream.
Apt. 101 - Right unit, is two stories and roughly about 1,500 square feet. This apartment has 3 bedrooms, a spacious living room, family room, an enclosed porch, 2 full newly renovated bathrooms, and a renovated kitchen. New laminate flooring throughout. New central air. And a laundry room with a stackable washer and dryer. Current tenants have been here for over 2 years and they're paying $1,380 a month.
Apt. 102 - Left unit, is two stories and roughly about 1,500 square feet. This apartment has 3 bedrooms and 1.5 bathrooms. New laminate flooring throughout, and access to the side yard. This unit has baseboard heating and the tenants supply window units. And a laundry room with a washer and dryer. Current tenant has been in place for a few months and pays $1,380 a month.
Apt. 103 - Entire 3rd floor with private access from the back of the house is roughly about 1,150 square feet. This 3 bedroom and 1 bathroom apartment needs a complete renovation. Current tenants have lived there for 4+ years and pay $680 a month. They will be vacating April 1st. The potential rent is around $1,250 per month.
Owner pays $390 per month to pump the holding tanks, and currently $150 per month for Trash. The new Buyer can easily make any new tenants pay for their own trash to avoid that monthly expense. House is on well water AND taxes are only $1,701!
Location
State MD
County Cecil
Zoning VR
Rooms
Basement Other
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Central A/C
Heat Source Electric
Exterior
Exterior Feature Patio(s), Porch(es)
Water Access N
Roof Type Asphalt
Accessibility 2+ Access Exits, Level Entry - Main
Porch Patio(s), Porch(es)
Garage N
Building
Foundation Stone
Sewer Holding Tank
Water Well
Architectural Style Farmhouse/National Folk
Additional Building Above Grade, Below Grade
New Construction N
Schools
Elementary Schools Bainbridge
Middle Schools Perryville
High Schools Perryville
School District Cecil County Public Schools
Others
Tax ID 0806017924
Ownership Fee Simple
SqFt Source Assessor
Security Features Non-Monitored
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with William Heath • Remax Vision