2208 Eutaw Place: 3 Apartments in Reservoir Hill / Gut Rehabbed 2008 / Fully Leased

A great opportunity to own a multifamily property consisting of 3 apartments that were completely gut rehabbed in 2008 and is fully leased.

2208 Eutaw Place is a three unit multifamily building in beautiful Reservoir Hill. The building has 2 spacious two bedroom, two bath apartments and 1 spacious three bedroom, two bath 2 level apartment. The building was gut rehabbed in 2008. The full kitchens have stainless steel appliances (refrigerator, stove, built in microwave, dishwasher, disposal) granite counter tops and wooden cabinets. The units are good sized with 10 ft ceilings throughout and accented by exposed brick. All have in unit washer/dryer hook ups, in unit security system, good light and a spacious rear deck to complete the package.

Mechanically the building is in great shape. The roof on the main building is new in 2019. ( torch down rubber) All windows replaced in 2008. All units are are separately metered with in unit electric panels with 200 Amp service. All units have their own forced air high efficiency gas furnace with central A/C and 40 gallon electric hot water tank. The plumbing and electric new as of 2008.

The location offers a Walk Score of 75, This location is Very Walkable so most errands can be accomplished on foot. The building is located 1/2 mile from MICA (Maryland Institute College of Art) with Druid Hill Park and the Whitelock Community Farm both a short walk away.

2208 Eutaw Place presents a great opportunity to buy a recently rehabbed, well maintained 3 unit property with a 7.62 % Cap Rate and a 11.1% cash on cash return.

Investment Summary:
$450,000.00
$150,000.00 per unit
$129 per Sq Ft
9.3 times market rent (GRM)
7.62% Cap Rate
11.1% Cash on Cash Return