902 Arion Park: 7 Fully Leased Lead-Free Apartments with Gas Heat/Central Air

902 Arion Park: 7 Fully Leased Lead-Free Apartments with Gas Heat/Central Air

902 Arion Park: 7 Fully Leased Lead-Free Apartments with Gas Heat/Central Air

902 Arion Park Rd, Baltimore, MD 21229, USA

SOLD COMP

$422,500

Property ID :

 ArionPark902

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Units
7
Bathrooms
7
Sq Ft.
6492

Description

Fully leased, Certified Lead-Free with all kitchens and baths recently renovated generates excellent cash flow. Solid 1963 construction with brick over block walls, wood-joisted with the original hardwood floors. Located in Southwest Baltimore, just inside the City line and across from Loudon Park Cemetery and off of Wilkens Ave.

One-Bedrooom Terrace level apartment is handicap accessible. Upper floors contain a mix of 3 Two-Bedroom apartments and 3 Three-Bedroom Apartments. No Section 8.  The Terrace Level one-bedroom apartment has electric baseboard heat and window air conditioning.  Each of the other apartments have their own gas-fired forced air furnace with central air conditioning and each apartment has its own gas-fired water heater, so the tenants pay all of their own utilities. All kitchens and baths have been updated within the past 3 years. Vinyl replacement windows throughout.

Property features a secure door with intercom buzzer system and a security camera system that one can view from one’s smart phone. Landlord provides free Wi-Fi to the tenants. This property is very clean and has been well maintained by the seller, including a new torch-down rubber roof. Coin Operated Washer and Dryer are owned by the landlord and convey with the property.

1 mile to I-695 (The Baltimore Beltway) and 1.5 miles University of Maryland at Baltimore County (UMBC).

Investment Summary:
$450,000
$64,286 per unit
$69 per sq.ft. of building area
$6,493 current actual monthly income
5.8 GRM (Gross Rent Multiplier)
8.2% Cap Rate

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