The Franklin

Unique Opportunity to Acquire a Gut-Renovated Asset in Hagerstown, MD

• Features 7 units with a mix of (1) Studio, (2) 1 Br-1 Ba, (2) 2 Br-2 Ba, and (2) 3 Br-2 Ba
• Property amenities include a 14-space surface parking lot, a courtyard, a terrace deck, and a shared office space
• Current ownership completed a comprehensive gut renovation in 2024
• Luxury apartment unit features include stainless steel appliance packages, quartz countertops, wood cabinets, LVT flooring, and in-unit washer/dryers

Minimal Deferred Maintenance and Value Add Potential  

• There are four furnished units at The Franklin which current ownership was renting as a short term or vacation rental when vacant
• Opportunity exists for a new owner to continue this model, fully convert the property to a short term rental, or secure long term, market rate tenants
• Additional value-add opportunities exist by implementing a water reimbursement program upon renewal and/or new lease, and shifting the cost of cable/internet to tenants, as these services are currently paid for by the owner
• Property also has a Economic Rehabilitation Incentive Grant from the the City of Hagerstown through the 2029-2030 tax year

Excellent Location in Washington County

• Ranked a Walker’s Paradise by WalkScore, convenient access to numerous local shops, restaurants, breweries, and community events
• Easy access to major highways such as I-70 and I-81
• Major area employers/colleges nearby: Meritus Health, Hagerstown Community College, Volvo Group, Amazon, and FedEx Ground

NEIGHBORHOOD SPOTLIGHT: Hagerstown

The Franklin is conveniently located in Hagerstown, colloquially known  as “Hub City”. The largest city in Washington County, Hagerstown is a regional hub for all of Western Maryland. The city is known for its balance of urban convenience and small-town character, offering residents access to recreational amenities, cultural institutions, and educational opportunities while maintaining a lower cost of living than nearby major metros.

Hagerstown provides strong educational resources, including Hagerstown Community College, which serves thousands of students annually and is a major local employer. Also located in the city is the University System of Maryland at Hagerstown, a regional higher-education center. The institution offers undergraduate and graduate programs from various state colleges and universities, including Towson University, University of Baltimore, and Salisbury University.

The area supports a diverse and expanding workforce, driven by its strategic location along major interstate corridors. Hagerstown has become a key destination for logistics, manufacturing, healthcare, and distribution users, with several large employers operating regional facilities in and around the city. Major employers in the sect include Volvo Motors (1,800+ employees),  Fiserv Inc. (2,300 Employees), and Meritus Medical Center (3,000+ Employees).

Downtown Hagerstown features a revitalizing core with local restaurants, shops, entertainment venues, and cultural attractions such as theaters, museums, and public art. The city also offers abundant outdoor recreation, with nearby parks, trails, and access to the Appalachian Mountains and Potomac River. In total, Hagerstown has 19 city parks.

Hagerstown’s central location provides excellent regional connectivity. The city sits at the crossroads of Interstates 70 and 81, offering direct access to Frederick, Baltimore, Washington, D.C., Harrisburg, and Winchester.