28 E 25th St, Baltimore, MD 21218, USA
SOLD COMP
$300,000
Property ID :
25th28
There are many cool things about this property:
UNIT MIX:
Terrace level store/office with a front reception area, large front room, small back room, utility room in the rear and one half-bath.
First Floor store with nice display window, customer/reception area, 3 large rooms and a half-bath. This floor has central air conditioning.
Second Floor one-bedroom apartment with hardwood floors and high ceilings. This apartment could be reconfigured into 2 bedrooms if desired.
Third Floor one-bedroom apartment with hardwood floors and generous room sizes. Possible to convert this into a 2-bedroom unit.
PHYSICAL PLANT:
New 90# Mineral felt roof looks to be in very good condition. This type of roof requires very little maintenance and typically lasts 12-15 years.
Copper water pipes.
200 Amps of electric power. All units have Square D and Cutler Hammer circuit breaker panels.
Gas fired 275,000 BTU central hot water radiator heating system, for which the owner pays. The heat cost could be passed through to tenants.
Gas fired central water heater. A.O. Smith has a reputation for high quality water heaters. This unit was manufactured in 2012 and has a 40-gallon capacity.
INVESTMENT SUMMARY:
$300,000 Offering
$75,000 per unit
$96 per sq.ft.
7.5 times gross annual rent (GRM)
8.7 Cap Rate
11% Cash-on-cash return on investment.
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.
Suze Orman