203 / 205 Davis Street: 3 Newly Renovated Office Suites / Potential 3 Great Apartments Walk to Court House / Waterfront

Great opportunity to own a completely gut renovated property in Downtown Baltimore with 3 offices suites that has the potential to be easily converted into 3 nicely appointed apartments.

203/ 205 Davis Street has been completely gut renovated from the roof to the basement, interior and exterior. The product is 3 nicely appointed office suites with a large dry basement for ample storage. All suites have Mini split HVAC systems, kitchenets with 30″ Stainless steel sinks, granite counter tops and wood cabinets. Each suite has its own bathroom with high end finishes and separate wash station.

The entire interior was gutted to the studs and redesigned. All systems are new including electrical (all units separately metered), plumbing, HVAC, windows, security and fire alarm system. The exterior has been freshly painted and a new torch down rubber roof as well.

The 1000 sq. ft. units set up well for a conversion to good sized one bedroom apartments. All you would have to do is add a kitchen and a shower. The plumbing and electrical are all in place. An FHA buyer could live in the 1st floor ( with 2 gated parking spaces) and rent the top 2 floors or an investor could have a nice cash flow positive multi family property in Downtown Baltimore. Located in the heart of Downtown Baltimore, 203/ 205 Davis Street has a Walk Score of 97 out of 100 and a Transit Score of 86. A walkers paradise with daily errands done without requiring a car. The Crime Grade is an A, making it one of the safest Baltimore neighborhoods.

Choose your own tenants or convert to multi family. Great opportunity for FHA buyer (owner-occupant)

Investment Summary:
$550,000
$183,333 Per Unit
$180 Per Sq. Ft.
10.7 Times Market Rent (GRM)
7.68% Cap Rate
11.3% Projected Cash On Cas Return