2 Altamont Ter,CUMBERLAND, MD 21502
CUMBERLAND, MD 21502
Description
11 UNITS. STABILIZED. CLEAN. INCOME PRODUCING. ULTRA-RARE FOR CUMBERLAND. A standout opportunity to acquire a professionally managed 11-unit multifamily property offering immediate cash flow, strong occupancy, and meaningful upside through future rent increases. Properties of this scale and condition are extremely difficult to find in the Cumberland market. This is not a heavy value-add or turnaround project. The building is clean, stabilized, well managed, and already producing income, giving an investor the ability to step into an operating asset from day one. The property offers a desirable unit mix, established rental history, and additional revenue from on-site coin-operated laundry. Current rents also provide room for future increases, creating a clear path to stronger NOI and improved long-term returns without requiring a major repositioning of the asset. Conveniently located near downtown Cumberland, employment centers, shopping, services, and I-68, the property is well positioned for continued rental demand. For investors looking to add scale, complete a 1031 exchange, or acquire a stabilized multifamily asset with both current income and future upside, 2-4 Altamont Terrace is an exceptionally rare Cumberland opportunity. 11 units. Stabilized income. Room to raise rents. Very little like it in the market.
Details
| MLS # | MDAL2014962 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1898 |
| Days On Site | 124 |
| Listing Provided By | REMAX Platinum Realty | Jason Wade |
Features
| Story(s) | 4 |
|---|---|
| Units | 11 |
| Zoning | R-L |
| Acreage | 0.10 |
| Property View | City, Mountain |
Interior
| Cooling | Window Unit(s) |
|---|---|
| Heating Yes / No | Yes |
| Heating | Baseboard - Electric |
Exterior
| Roof | Shingle |
|---|---|
| Construction Materials | Brick |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 8057 |
|---|
Area Information
| State | MD |
|---|---|
| County | ALLEGANY MD |
| City | CUMBERLAND |
| Zip Code | 21502 |
| Area | W Cumberland Allegany County (MDAL3) |
| School District | ALLEGANY COUNTY PUBLIC SCHOOLS |
| High School | ALLEGANY |
| Listing VS Median (in 21502) | |
Price: $640,000 low | high Med: $175,000 On site: 124 low | high Med: 71.5 | |
Market Activity 21502
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Learn More About This Property
| State | MD |
|---|---|
| County | ALLEGANY MD |
| City | CUMBERLAND |
| Zip Code | 21502 |
| Area | W Cumberland Allegany County (MDAL3) |
| School District | ALLEGANY COUNTY PUBLIC SCHOOLS |
| High School | ALLEGANY |
| Listing VS Median (in 21502) | |
Price: $640,000 low | high Med: $175,000 On site: 124 low | high Med: 71.5 | |
