465 W South Street , Frederick, MD 21701

Property Description

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, 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 2025, 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.

Property Features

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