UNDER CONTRACT: PRESENTING – 316 Upper College Terrace Apartment Building

Price Reduced: Located directly across from the main entrance to Hood College, this 3-story brick residence contains almost 5,000 square feet of finished space above grade.   Constructed in 1922, the Traditional Georgian-inspired home exudes historic charm with 9’ ceilings on the 1st and 2nd floors, bay windows, original wood floors on the main level and wood-cased windows and doors.  The building has been modernized with 3 heat pump units serving the 1st and 3rd floors, new windows, and new water heaters.

Currently consisting of six apartments yielding over $75,000 in gross income, the property offers several options:  continued use an investment property; partial conversion for occupancy by the owners, with some units retained to provide rental income; or full conversion of the property into a single family detached home.

The property includes a detached 3 car garage and surface parking for another 3 cars.

Financial information is available upon request.

Land Details

Location

  • 316 Upper College Terrace, Frederick, MD
  • Note: Two first floor apartments use the address 323 North College Parkway

Legal/Taxes

  • Frederick County Tax Map 0413, Parcel 353

Acreage

  • 14,280 SF per tax records. The property consists of two parcels of land:
  • Lot 60, College Park (Plat S.T.H. Folio 67); and,
  • the northern half of Lot M, Block 4, College Park (S.T.H. Folio 113)

Zoning

  • City of Frederick: R-6 Low Density Residential

Building Details

Building Size

  • 14,280 SF

Parking

  • The property includes a detached 3 car garage and surface parking for another 3 cars.

Utilities

  • Electric, telephone, cable/internet, public water, public sewer

Uses

  • Possible usage under zoning (permitted as a right, or permitted as a conditional use with Board of Zoning Appeal approval) includes, but not limited to:
  • Single Family Home
  • Accessory Detached Dwelling Unit
  • Accessory Apartments
  • Bed and Breakfast Inn
  • Nursing Home/Domiciliary Care/Adult Living Facility
  • Rooming House
  • Commercial Use in Historic Structures
  • Adult Day Care Center
  • Child Day Care Center

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