Thank you
Gregory A Cullison Jr.
EXP Realty, LLC
888-860-7369
Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 8.57% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a separately deeded vacant lot next door, possibly zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. 5th apartment (3 bedrooms, 2 Bath) not pictured. Act quickly to secure this multifaceted investment—Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.
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Water Source : Public
Basement Description: Improved,Interior Access,Outside Entrance,Connecting Stairway,Partially Finished,Walkout Stairs
Cooling: None
Heating: Hot Water
Cooling Fuel: Electric
Heating Fuel: Electric,Natural Gas
Year Built: 1920
Structure: Detached
New Construction: No
Total Units: 4
Built: 1920
Construction Material: Brick,Other
Foundation/Basement: Block
Architecture: Colonial
Pool/Private: No Pool
Pool: No Pool
Sewer: Public Sewer
Water Heat: Electric,Natural Gas
Lot Size: 19,176
Lot Size (Acres): 0.44
Architectural Style: Colonial
Stories Total: 4
Main Square Feet: 19,176
SQ ft: 6,466
SQ ft (Living Area): 5,866
Total Lot SQ ft: 19,176
Financing: Cash,Bank Portfolio,Other
Total Acreage: 0.44
New Construction: No
Type: Colonial
Possession: Settlement
Days Of Market: 6
Annual Tax: $9,785
Tax Year: 2023
Total Taxes Payment Frequency: Annually
Settlement
Taxes Assessment Amount: $414,600
Total Parking Spaces: 7
Parking Type: Off Street,Detached Garage,Driveway
Has Garage: Y
Garage Type: Garage - Front Entry
Garage Space: 2
# of Detached Garage Spaces: 2
Acceptable Financing: Cash,Bank Portfolio,Other
Direction: Route 1 to Parkside Drive
Elementary School: GARDENVILLE
School District: BALTIMORE CITY PUBLIC SCHOOLS
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: Electric
Heating Fuel: Electric,Natural Gas
Hot Water: Electric,Natural Gas
Direction: Route 1 to Parkside Drive
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
4401 Mary Avenue , Baltimore, MD,21206 | $315,000 | -- | -- | 2,008 | 7497 Sqft |
6613 Hilltop Avenue , Baltimore, MD,21206 | $40,000 | -- | -- | 6,512 | 6512 Sqft |
5112 Overdale Avenue , Baltimore, MD,21206 | $120,000 | 3 | 1.0 | 1,144 | 37070 Sqft |
3811 White Avenue , Baltimore, MD,21206 | $299,000 | 3 | 1.5 | 1,583 | 9000 Sqft |
4501 Frankford Avenue , Baltimore, MD,21206 | $339,500 | 5 | 3.0 | 1,063 | 5401 Sqft |
5202 Nuth Avenue , Baltimore, MD,21206 | $330,000 | 4 | 3.5 | 1,254 | 5279 Sqft |
4227 Belmar Avenue , Baltimore, MD,21206 | $335,000 | 5 | 3.0 | 2,002 | 7497 Sqft |
5112 Overdale Avenue , Baltimore, MD,21206 | $112,000 | -- | -- | 37,070 | 37070 Sqft |
5501 Mccormick Avenue , Baltimore, MD,21206 | $1,399,000 | -- | -- | 466,528 | 466528 Sqft |
5501 Mccormick Avenue , Baltimore, MD,21206 | $1,399,000 | -- | -- | 2,763 | 478288.8 Sqft |
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ByOwner last updated this listing 04/30/2024 @ 23:18
MLS: MDBA2121126
LISTED BY: Gregory A Cullison Jr. , EXP Realty, LLC
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.