908 Davis Ave, Takoma Park, MD 20912

Rare multi-unit investment opportunity in sought after Takoma Park. 3 unit property available subject to the City of Takoma Park Opportunity to Purchase once they have a ratified contract to review. Tenants have already waived their Opportunity to Purchase. This property is subject to rent control with allowable "banked" rent of Unit 1 of $1405, Unit 2 $1078 and Unit 3 $758. Current owner has a family member living in Unit 1 paying $1114 per month but the rent can be increased to the banked rent of $1405 for the next tenant. Unit 1 lease expires September 30, 2020. Unit 2 has tenant that has lived there since 2008 with a current lease expiration of 5/31/21 paying $948 per month and unit 3 has a tenant paying $758 with a lease expiration of 6/30/21. Pictures of Unit 1 are from before current tenant moved in. Owner pays gas and water - tenants pay their own electricity. Purchase as an investment opportunity or move in to one unit and use the rental income from the other units to help pay expenses. Currently tenant occupied so 24 hour notice required to show the property.