306 MONTGOMERY ST Laurel, MD 20707
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Talbott Estates
MLS Listing ID MDPG2214636
Year Built 1900
Available Date 2026-08-14
Annual Tax Amount $11,008
Tax Year 2025
Lot Size 0.312 Acres
Acres 0.31
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
An opportunity for the investor looking for income today with room to create additional value tomorrow. 306 1/2 Montgomery Street is an established five-unit multifamily property featuring five 2-bedroom, 1-bath apartments, with four units currently occupied and one vacant. Large lot with rear parking.
The property is currently cash flowing, all existing tenants are current on rent, and consistent property management has been in place for years—providing an incoming owner with an established operational foundation from day one.
This is not being positioned as a fully renovated or turnkey asset. It is a value-add opportunity for an investor who recognizes the potential in improving an already income-producing property over time. Two of the four occupied units have received kitchen updates, while additional improvements throughout the building provide an opportunity to further enhance the property, rents, and long-term asset value.
Unit 5 is currently vacant and represents the most immediate opportunity for renovation and repositioning. Interior photos shown in the listing are of Unit 5 only. Individual units have different interior layouts and flow, and the condition and improvements vary by unit.
For investors who prefer to evaluate the numbers before pursuing an opportunity, a selling portfolio is available to qualified buyers and includes property financials, existing leases, rent information, and additional photographs of the occupied units. To respect tenant privacy and minimize unnecessary disruption, this information will be made available upon request to buyers who provide proof of funds or appropriate financing approval.
Located in the City of Laurel with access to the Baltimore-Washington corridor, major commuter routes and a strong surrounding employment base, this property offers the combination value-add investors look for: existing income, established tenancy and management, a vacant unit ready for improvement, and additional opportunity to strengthen performance over time.
Acquire the income that is already in place—and bring your strategy for what comes next.
Do not disturb tenants.
Location
State MD
County Prince Georges
Zoning LAUR
Interior
Hot Water Natural Gas
Heating Radiator
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 10.0
Water Access N
Accessibility None
Total Parking Spaces 10
Garage N
Building
Lot Description Backs to Trees, Cleared, Private, Rear Yard
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Prince George'S County Public Schools
Others
Tax ID 17101118835
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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Zack Grimmer
Associate Broker | Team Leader | REALTOR | Mortgage Loan Officer | License ID: RS346782 | 1973175 | BK359849