2 Altamont Ter, Cumberland, MD 21502
- $640,000
- List Price
- $640,000
- Price Change
- ▼ $9,000 1790107841
- Days on Market
- 96
- Status
- ACTIVE
- MLS#
- MDAL2014962
- Lot Size (Acres)
- 0.1
- Year Built
- 1898
- County
- Allegany
- School District
- Allegany County Public Schools
Property 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.
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Additional Information
- Area
- W Cumberland - Allegany County (MDAL3)
- Taxes
- $8057
- Stories
- 4
- School District
- Allegany County Public Schools
- High School
- Allegany
- Flooring
- Luxury Vinyl Plank, Ceramic Tile
- View
- City, Mountain
- Heating
- Baseboard - Electric
- Heating Fuel
- Electric
- Cooling
- Window Unit(s)
- Roof
- Shingle
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of REMAX Platinum Realty. Contact: