465 W South Street
Frederick, MD 21701

Beds: 0

Baths:

MLS# MDFR2080236

Exceptional mixed-use income-producing asset in downtown Frederick featuring a 2BR residential unit plus extensive parking and garage infrastructure. The property generates diversified income streams from residential tenancy, garage rentals, egress payments, and surface parking. The residential structure underwent a complete renovation in 2019, including the addition of HVAC, providing modernized systems and improved tenant appeal. The home has also benefited from recent interior and exterior painting and has a proven track record as both a short-term rental and long-term rental, offering flexible income strategies. The site includes a fully leased or leasable configuration of 9 garage units with electric service (metered separately from house), 13 surface parking spaces, and private off-street parking for the residential unit. Garages and parking areas benefit from significant capital improvements completed in 2022, including structural stabilization of all garage units, full re-gravelling and leveling of the lot, and tree trimming to improve access and usability. In 2024, the garage roof received protective tar coating to extend lifespan and reduce maintenance exposure. Security cameras are installed across the property, supporting tenant safety and asset protection. The property also provides access easements utilized by neighboring properties for rear access, adding functional value within the block. This is a rare opportunity to acquire a stabilized, multi-income property with strong in-place cash flow and additional upside through parking optimization and rent growth in a high-demand downtown Frederick location. Leases available upon request. The main residence will be delivered vacant after May 31st, providing an ideal opportunity for owner-occupants or new market-rate tenants. Existing garage and parking leases offer immediate cash flow with the flexibility for the new owner to retain or terminate. Residential zoning. Buyer advised to perform due diligence regarding all building and development potential.

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