12 Grant Avenue

Description

What an attractive all brick 12 unit building in the heart of the City of Takoma Park and a short stroll to Historic District, shops, restaurants, Takoma Food Coop, Metro, City Hall, The Library, Schools, and parks! It's all your tenants will want and they stay and stay (one tenant there since the building was new!). This is the 2nd owner since the building was constructed in 1968 that is selling and tenants are long-term (1 since it was new) and reliable and all current with their rents. The tenants pay for their own heating and cooling (all-electric) and the owner pays for water/sewer and laundry hot water. The units are all a similar size 2 Bedroom and with walk-in closets in the larger bedroom, decent sized kitchens w/disposals and in good condition. Each unit has its own water heater (there is also one in the laundry room) and all water heaters were replaced in 2021. The electric panel was upgraded about 11 years ago as was the rubber roof. The building has been tested inside and out as being lead-free which means you do not have to have a new test with every tenant turnover. There's ample 16 space parking which is appreciated by tenants. There are large individual tenant storage units in the basement and a laundry room with 3 washers and 3 dryers (leased). Income/expenses for 2021 are available on request. The sale is subject to the first rights of refusal of the County, City, and Tenants as is usual - ask agent for details. This property is subject to the City Rent Stabilization Agreement which is referred to in the Takoma Park Addendum. A great long-term buy!