Fully leased 3-Unit in Hampden, with Two 1-car garages in the rear, all rented at just about market rate rents. An inviting small yard and front porch lead into a wide foyer. As an end of group townhome, this unit has over 20+ windows, making the apartments very bright.
With 890 Sq. Ft. of living space, the 1st Floor has been recently updated, including refinished hardwoods throughout the main living areas. Ceramic tile carries through the mudroom and bathroom. The kitchen features modern wood shaker cabinets, as well as high capacity, stacked laundry in the mud room. The den in the front of this apartment could conveniently be used as a home office, as it offers private access from the front porch and from the inside of the apartment as well.
Upstairs, the 2nd and 3rd floors have a mix of original hardwood floors and vinyl tile. Large living rooms, wood kitchen cabinets, a mix of plaster and drywall walls that are in great shape, and stacked washer dryers. 2nd Floor bath features a clawfoot tub and 3rd floor has vinyl shower stall enclosure. Owner does pay for heat and hot water. Tenants pay for their own separately metered electric.
Hampden is one of Baltimore’s most popular neighborhoods and 33rd Street is only 3 blocks south from one of the City’s most popular streets, 36th Street, aka The Avenue, This bustling street offers unique shops and lots of different restaurants. Also within walking distance is the Rotunda,a recently renovated historic building featuring Mom’s Organic Market, more dining options and business offices.
With a WalkScore of 86 and Crime Grade “A”, these apartments rarely see vacancy. Run as-is or make some modern utility improvements to improve cash flow. This property is highly attractive to those seeking to purchase a home and have help paying the mortgage! Have you considered owner-occupying recently?
$156,667 Per Unit
$151 Per Sq. Ft.
9.6 Times Actual Market Rent (GRM)
9.3 Times Market Rent (GRM)
7.24% Cap Rate
9.8% 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”.