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.
- 316 Upper College Terrace, Frederick, MD
- Note: Two first floor apartments use the address 323 North College Parkway
- Frederick County Tax Map 0413, Parcel 353
- 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)
- City of Frederick: R-6 Low Density Residential
- 14,280 SF
- The property includes a detached 3 car garage and surface parking for another 3 cars.
- Electric, telephone, cable/internet, public water, public sewer
- 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