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Description

Final Sales Price $490,000.  Closed July 3, 2018.  $98,000 per unit, 8.3 GRM, 7.77 Cap Rate.

Handsome Huge 4,400 sq.ft. Brick Townhouse completed renovated into 5 spacious apartment homes located 1 block south of Johns Hopkins Hospital and 6 blocks north of the Fells Point Inner Harbor waterfront.

Renovated in 2014, the building has a separate high-efficiency heat pump with central air conditioning in each unit and separate water heater for each apartment.  All new wiring, all new plumbing, complete sprinkler system complete this renovation.

Kitchens feature wood cabinetry, ceramic tile floor, full-size range, and built-in microwave.  Bathrooms are finished with ceramic tile floors and ceramic tile tub enclosures.  7 S. Broadway is certified Lead-Free Limited to provide safe housing for tenants and lower risk ownership.  

The unfinished basement includes a coin operated wash and dryer as a convenience for the residents and an additional income stream for the owner.

Two car garage in the rear provides an additional untapped revenue source for off-street parking as well as storage.

This densely populated area is in high demand for quality rental units.   Less than a mile to Baltimore’s Downtown Central Business District makes for an easy commute.

INVESTMENT SUMMARY:
$495,000   Investment
$   99,000   per unit
$         112    per sq.ft.
8.4                Times Gross Annual Rent based on current actual rents
7.6%             Cap Rate
7.5%             Cash-on-Cash Return on Investment

  • Address: 7 S. Broadway
  • City: Baltimore
  • State/county: Maryland
  • Neighborhood: Washington Hill
  • Country: United States

Detail

Updated on April 15, 2019 at 6:31 pm

  • Price: $495,000
  • Units: 5
  • Parking Spaces: 2
  • Property Type: Apartment Building
  • Property Status: For Sale - COMP

Contact info

Ben Frederick Realty
Ben Frederick Realty

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