2731, North Calvert Street, Charles Village, Baltimore, Maryland, 21218, United States of America
With two of the three apartments renovated and all three currently rented, 2731 Calvert offers a profitable rent roll today, with the opportunity to add value and increase income by upgrading the third floor apartment.
This large building has 2,940 sf of living area, offering generous room sizes and abundant closet space. The first and second floors house spacious 2-bedroom apartments, renovated in 2018, featuring new hardwood floors, upgraded kitchens with gorgeous granite counter-tops, updated ceramic tile bathrooms, and a 2-story rear deck. The third floor is a 1-bedroom apartment–its older kitchen and bathroom could easily be upgraded to increase the income for this building.
With vinyl replacement windows throughout, 400 amp electric service, and a copper water main, a new owner can expect few headaches and low maintenance costs. The building is heated by an oil-fired steam boiler. Costs for oil, water, and public service BGE are passed through to the tenants, making this property even more profitable for the savvy investor!
2-car parking pad in rear is a bonus for tenants who can walk to downtown Charles Village or the University, or use public transit to travel to other parts of Baltimore. Tenants in this building enjoy a WalkScore of 89, a TransitScore of 62, and a BikeScore of 86, making the apartments easy to lease.
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$131,667 Per Unit
$134 Per Sq. Ft.
10.0 Times Actual Rent (GRM)
9.6 Times Market Rent (GRM)
7.4% Cap Rate
9.2% 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”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman