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$695,000 Just Listed

  • For Sale
  • Active
  • Apartment
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Exceptional investment opportunity! This professionally managed 11-unit multifamily property offers immediate cash flow and is almost fully occupied, providing investors with stable income from day one and strong long-term upside. The property features a desirable unit mix, coin-operated laundry for additional revenue, and a proven rental history. Investors will appreciate the combination of in-place income, value-add potential through future rent optimization, and a well-maintained asset positioned for continued performance. Conveniently located in Cumberland with easy access to local amenities, employment centers, and transportation. Whether you're expanding your portfolio or completing a 1031 exchange, this turnkey multifamily investment presents an outstanding opportunity for dependable cash flow and long-term appreciation.

Full Property Details for 2 Altamont Terrace

General

  • Price: $695,000
  • Taxes: $8,057 (2025)
  • Status: Active
  • Type: Apartment
  • Source: BrightMLSMidAtlantic
  • MLS ID: MDAL2014962
  • Updated: Today (6/20/2026)
  • Added to Site: Today

Business

  • Business Type: Apartment Building

Interior

  • Flooring: Luxury Vinyl Plank, Ceramic Tile

Parking

  • Parking Type: On Street

Location

  • Area: W Cumberland - Allegany County (MDAL3)
  • Municipality: Cumberland
  • County: ALLEGANY
  • Driving Directions: GPS
  • City Limits: Yes

School Information

  • High School: Allegany

Heating & Cooling

  • Cooling Type: Window Unit(s)
  • Cooling Fuel: Electric
  • Heating Type: Baseboard - Electric
  • Heating Fuel: Electric
  • Water Heater: Electric

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Brick
  • Roof: Shingle
  • Stories/Levels: 4
  • Building Size: 7997
  • Year Built: 1898
  • Year Built Source: Assessor

Unit Information

  • # Tenants: Multiple

Lot Features

  • Property View: City, Mountain
  • Lot Size (Acres): 0.1
  • Lot Size (Sq. Ft.): 4,200
  • Lot Size Source: Assessor
  • Zoning: R-L

Financial Considerations

  • Price Per Sq. Ft.: $86.91
  • Assessment Year: 2026
  • City/TownTax: $4,320
  • City/TownTax Freq: Annually
  • County Tax: $3,737
  • County Tax Freq: Annually
  • Tax w/Assessment: $459,400
  • Tax Amount: $8,057
  • Tax Year: 2025

Disclosures and Reports

  • Ownership: Fee Simple
  • Lot Number: 1

Listed by REMAX Platinum Realty, Jason Wade

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Listing agent

— 2 Altamont Terrace —

  • Jason Wade

    REMAX Platinum Realty

Listing Office Email: chrismann@remax.net

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 2 Altamont Terrace

School District:Allegany County Public Schools
NameGradesDistance
West Side Elementary School, Cumberland, MD
425 Paca Street, Cumberland, MD 21502
PK-50.9 mi
Braddock Middle School
909 Holland Street, Cumberland, MD 21502
6-81.2 mi
Allegany High School
900 Seton Drive, Cumberland, MD 21502
9-122.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2 Altamont Terrace Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/20/2026
Listed
$695,000
43.3%
MLS
4/14/2023
Sold
$485,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 2 Altamont Terrace

Year
Property Taxes
Change
Tax Assessment
Change
2023
$2,833
—
$407,767
14%
2023
$2,833
—
$356,133
17%
2023
$2,833
225%
$304,500
2%
2020
$872
—
$297,100
216%
2021
$872
—
$93,900
—
2020
$875
-1%
$93,667
—
2019
$888
1%
$93,433
—
2018
$880
8%
$93,200
9%
2017
$814
9%
$85,767
9%
2016
$746
9%
$78,333
10%
2015
$684
2%
$70,900
—
2014
$671
—
$70,900
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by REMAX Platinum Realty, Jason Wade

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2 Altamont Terrace, Cumberland, MD 21502 (MLS# MDAL2014962) is a Apartment property. 2 Altamont Terrace is currently listed for $695,000 and was received on June 20, 2026. Want to learn more about 2 Altamont Terrace? Do you have questions about finding other Apartment real estate for sale in Cumberland? You can browse all Cumberland real estate or contact a Coldwell Banker agent to request more information.

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