2 ALTAMONT TER Cumberland, MD 21502
4,200 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDAL2014962
Year Built 1898
Available Date 2026-06-20
Annual Tax Amount $8,057
Tax Year 2025
Lot Size 4,200 Sqft
Acres 0.1
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
A standout opportunity to acquire a professionally managed 11-unit multifamily property offering immediate cash flow, strong occupancy, and meaningful upside through future rent increases.
Properties of this scale and condition are extremely difficult to find in the Cumberland market. This is not a heavy value-add or turnaround project. The building is clean, stabilized, well managed, and already producing income, giving an investor the ability to step into an operating asset from day one.
The property offers a desirable unit mix, established rental history, and additional revenue from on-site coin-operated laundry. Current rents also provide room for future increases, creating a clear path to stronger NOI and improved long-term returns without requiring a major repositioning of the asset.
Conveniently located near downtown Cumberland, employment centers, shopping, services, and I-68, the property is well positioned for continued rental demand.
For investors looking to add scale, complete a 1031 exchange, or acquire a stabilized multifamily asset with both current income and future upside, 2–4 Altamont Terrace is an exceptionally rare Cumberland opportunity.
11 units. Stabilized income. Room to raise rents. Very little like it in the market.
Location
State MD
County Allegany
Area W Cumberland - Allegany County (Mdal3)
Zoning R-L
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Window Unit(s)
Flooring Luxury Vinyl Plank, Ceramic Tile
Heat Source Electric
Exterior
Water Access N
View City, Mountain
Roof Type Shingle
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Allegany
School District Allegany County Public Schools
Others
Tax ID 0122007734
Ownership Fee Simple
Special Listing Condition Standard
