Rare Investment Opportunity - Own Your Positive Income Producing Rental Apartment at the University of Maryland College Park! Excellent location right on the University of Maryland (UMD) College Park (South Campus)! Spacious two (2) bedroom, one (1) bathroom apartment on the third floor of College Park Towers (CPT) on Knox Road. College Park Towers are condominiums individually owned & managed and leased primarily to students who attend the University of Maryland. This apartment has very nice views and is close to the elevator and the laundry room. It is currently rented by two students who will be moving out by the end of May 2021. Another group of students have just leased the apartment from 1 June 2021 to 31 May 2022 for $2,150/month ($25,800 for the year), so positive rental income is assured for the new owner! One of the bedrooms is quite large and can be easily shared by two persons, while the other is ideal for one person. There are large closets in each bedroom with additional closet space in the hallway to bathroom. You can choose to have 2 or 3 students continue to rent this apartment, or have your own child stay there with or without roommates if they are going to UMD. The apartment has been well-maintained and updated with low maintenance laminated hardwood flooring in all areas except the kitchen which has tiled linoleum. The kitchen has a gas oven and 4-burner stovetop, with a brand-new dishwasher installed in late 2020, and a full-size top shelf freezer / fridge. The monthly condo fee of $776 includes all utilities (electricity, gas, water, sewer, trash) as well as regular maintenance of the apartment complex and all facilities (gym, laundry rooms, etc.) by a team of professionals including an on-site manager. Tenants/students can get optional cable/internet/phone to share. There is one (1) free parking space with additional parking available for a fee for tenants through a CPT lottery system. This is among the best UMD locations since shopping, restaurants, transportation, and the University of Maryland campus buildings are all very accessible on foot. It is less than half mile easy walk to the UMD Robert Smith School of Business and only a block away from the new, albeit more expensive, Terrapin Row with more restaurants and stores. The main lobby and mail room has been recently renovated with secure (electronic key fob required) access. Apartments have strong metal doors with keyed access that can be reset when needed. The building and surroundings are very well-maintained by a professional on-site team. These 2-bedroom, 1 bath apartments typically rent from $2,000 to $2,500 and can be shared by up to 3 students. They rent very quickly to UMD students once posted on the CPT website under “units for sale” bulletin board. These properties rarely come on sale – so this is a rare opportunity to get one! Please email Amit Pramanik at amit.pramanik@gmail.com or call 410-461-6317 or 443-745-3459 (leave message if no response) to discuss further or get an appointment to view the apartment.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
