307, East 25th Street, Barclay, Baltimore, Maryland, 21218, United States
For Sale - Under Contract
307 East 25th Street is the ideal multi-family rental: fully occupied, well-maintained, and separately metered. Located on the outskirts of Charles Village, this property has great potential for appreciation as Johns Hopkins University expands its footprint and the 25th Street commercial corridor gentrifies. Currently owner-occupied and self-managed, these apartments house many upgraded features above and beyond a typical rental-grade build.
Kitchens feature sturdy, easy-to-clean laminate countertops, a mix of wood and laminate cabinets, stainless steel sinks with disposals, and ceramic tile flooring. Apartments 1 and 2 bathrooms have modern vanities, stand-up showers with ceramic tile enclosures, and ceramic tile floors. Above-grade living spaces for these apartments have laminate plank flooring, while the first floor apartment’s below-grade component has ceramic tile flooring. Exposed beams in the first floor add an artistic element to the living room.
The third floor, owner-occupied apartment features an upgraded bathroom with a custom-built stainless steel wall-mounted sink, and porcelain plank flooring and shower enclosure. The kitchen’s refrigerator and gas range are stainless steel; the dishwasher completes this home cook’s kitchen. Exposed beam ceilings and porcelain plank floors lend to an industrial, chic look for this unit.
307 East 25th Street is separately metered for gas and electric. Tenants also reimburse the landlord for their shares of water/sewer and public service electric, optimizing the cash flow for this rental property.
Each floor has its own heating system–gas furnaces for each above-grade floor, and an electric heat pump for the basement. Tenants enjoy central air conditioning, cooling off the apartments in the hot Baltimore summers. From the basement to the second floor, each floor has its own 40 gallon electric water heater. The third floor has a tankless water heater.
Vinyl replacement windows help to insulate the building, decrease utility costs for the tenants. Observable water supply lines are c-pvc; drain lines are pvc. Apartment 1 and 2 tenants share a stacked clothes washer/dryer in the basement. Apartment 3 has in-suite laundry.
307 East 25th Street has 3 gas meters, and 4 electric meters with 400 amp total service.
Located in the outskirts of Charles Village in the Barclay neighborhood, here a landlord can purchase a stable property for both its income and potential appreciation. The 25th Street commercial corridor is home to many small businesses, and several national retailers. Tenants can walk to the Safeway grocery store, or CVS pharmacy. This commercial district is a half mile from Johns Hopkins University Homewood campus, and provides easy access to I-83 and both north and south Baltimore. As Hopkins expands its influence from the north, and the Mount Vernon neighborhood grows from the south, there is plenty of upside opportunity for Barclay!
$399,000 $133,000 Per Unit $153 Per Sq. Ft. 9.0 Times Market Rents (GRM) 7.76% Cap Rate 8.8% Projected Cash-on-Cash Return
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”.
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