2804 Calvert St. Baltimore, MD 21218
For Sale - Under Contract
2804 Calvert Street offers you the opportunity to own 5 apartments at an affordable price, earning positive cash flow from day one! These apartments are home to a mix of Johns Hopkins graduate students and long-term, stable market tenants.
While these apartments are fully rented and provide positive cash flow, the rents are low and kitchens and bathrooms are older–providing the opportunity to make improvements and increase the rents accordingly.
This inviting porch-front building features exposed brick accent walls. Real hardwood floors appeal to today’s tenants. The ceramic tile bathrooms are durable and reduce turnover costs. Metal garage in rear provides extra income. Water bills are passed through to tenants; owner pays for public service gas & electric. Building is served by gas-fired steam boiler, installed 2014.
Centrally located in Charles Village, tenants enjoy an easy walk to Johns Hopkins University Homewood Campus, Union Memorial Hospital, and all the shops and restaurants that the neighborhood offers. Tenants love that this building offers a WalkScore of 89, a TransitScore of 62, and a BikeScore of 86, which means these apartments rent fast!
Schedule an appointment to see this income-producing property today! Investment Summary: $420,000 $152 Per Sq. Ft. $84,000 Per Unit 8.4 Times Actual Rent (GRM) 8.1 Times Projected Rent (GRM) 7.37% 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