2703, North Calvert Street, Charles Village, Baltimore, Maryland, 21218, United States
For Sale - Under Contract
Meticulously maintained both physically and financially, this 4-unit building comes with a healthy cash flow, low-stress management, and ideal tenants. Purchase this turn-key Charles Village multi-family building to bring home a steady investment return.
Kitchens feature sturdy, easy-to-clean finishes including laminate counters, wood cabinets, and ceramic tile floors. Bathrooms are updated, with modern vanities, full tubs, and ceramic tile floors as well. Living areas are well maintained and well-lit with ample windows on each floor.
With a total of 3,330 sq. ft. between the four units, these apartments offer large living spaces. Tenants enjoy amenities including laundry, central & separately controlled heating and air conditioning for each apartment, and a parking pad in the rear. With happy tenants comes low turnover and easy management.
Each apartment is separately metered for electric (no gas); so each tenant pays for their electricity usage including cooking, heating, cooling, and hot water. Currently the owner pays for cold water/sewer, and the public service electric. A savvy landlord can increase cash flow by passing these expenses through to the tenants.
The second- and third-floor apartments each have in-unit laundry. The two first-floor apartments share coin-operated laundry in the basement.
2703 Calvert St has 400-amp electric service, and five electric meters. The water main is copper, and most observable supply lines are copper or pvc, with some steel supply lines on the first floor. Vinyl replacement windows; rubber roof with elastomeric coating. Each unit has its own heat pump and cooling unit (studio has a ductless mini-split), and its own hot water heater.
Tenants can walk to the Charles Village Shopping District, Johns Hopkins University Homewood Campus and Wyman Park. Just one block west is the Hopkins Shuttle Stop, providing an easy commute to Hopkins’ other Baltimore campuses. 2703 N Calvert St earns the designation “Walker’s Paradise” with a WalkScore of 90, a TransitScore of 64, and a BikeScore of 86. This block is patrolled by Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
$599,000 $149,750 Per Unit $180 Per Sq. Ft. 10.8 Times Actual Rent (GRM) 10.0 Times Market Rent (GRM) 7.02% Cap Rate 9.9% Projected Cash-on-Cash Return
Email Tom Fair to schedule a tour: Tom@BenFrederick.com or Call 410-235-5200 to discuss your investment objectives and criteria.
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