2804 Calvert St: 5 Apts with Cash Flow Today and Value-Add Opportunity Tomorrow!

2804 Calvert St: 5 Apts with Cash Flow Today and Value-Add Opportunity Tomorrow!

2804 Calvert St: 5 Apts with Cash Flow Today and Value-Add Opportunity Tomorrow!

2804 Calvert St. Baltimore, MD 21218

For Sale

$420,000

  • 00 Front edited
  • 00 Front_200116024829
  • 10 Unit 1F_200116024829
  • 11 Unit 1F_200116024829
  • 20 Unit 1R_200116024829
  • 21 Unit 1R_200116024830
  • 22 Unit 1R_200116024830
  • 23 Unit 1R_200116024830
  • 30 Unit 2_200116024830
  • 31 Unit 2_200116024830
  • 33 Unit 2_200116024830
  • 34 Unit 2_200116024830
  • 35 Unit 2_200116024831
  • 40 Unit 3_200116024831
  • 41 Unit 3_200116024831
  • 42 Unit 3_200116024831
  • 43 Unit 3_200116024831
  • 44 Unit 3_200116024831
  • 45 Unit 3_200116024831
  • 50 Unit bsmt_200116024832
  • 51 Unit bsmt_200116024832
  • 52 Unit bsmt_200116024832
  • 53 Unit bsmt_200116024832
  • 55 Unit bsmt_200116024832
  • 80 Gas Meters_200116024832
  • 81 Electric meters_200116024833
  • 82 water heater_200116024833
  • 83 boiler room_200116024833
  • 84 laundry_200116024833
  • 85 Asbestos pipe insulation'_200116024833
  • 90 Garage_200116024833
  • 91 Rear_200116024834
  • 01 Aerial_200116024829
  • 02 Front Row_200116024829

Property ID :

 RH-13051-property

Units
5
Garage
1
Sq Ft.
2758 Sq. Ft.
Year Built
1902
Lot Size
1968 Sq. Ft.

Description

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 this 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
8.3% Projected Cash-on-Cash Return

Features

Property on Map