3012 N Calvert St: 3 Apartments in Charles Village

What Makes this Charles Village Apartment Building Special:

This 3-unit apartment building is located just two blocks from Johns Hopkins University Homewood Campus. These large two- and three-bedroom apartments are separately metered and offer the option to increase rents. 3012 Calvert’s cash flow is attractive for investors and owner-occupant buyers alike.

Multi-Family Property Details:

• One 3-Bedroom, 2-Bath Apartment
• Two 2-Bedroom, 1-Bath Apartment

These units offer large, sunny living spaces for tenants. Each of the 2-bedroom apartments spans an entire floor; and the 3-bedroom apartment includes the entire first floor and the basement. The interiors feature hardwood floors, tall ceilings, and updated bathrooms. A 2-car pad in the rear provides off-street parking for the tenants.

Who Pays Which Utilities:

Each unit is separately metered for gas and electric. The units are heated via electric baseboards, and there is a common 74 gallon water heater. Free laundry is available to all tenants in the basement.

Currently the owner pays for hot and cold water, and the basement’s electricity usage which is tied into the public service. A savvy landlord can increase cash flow by passing through these expenses to the tenants.

What’s Great About Charles Village:

Located just two blocks from Johns Hopkins University Homewood campus, this Charles Village apartment building is in “the zone” for student housing. Tenants enjoy a short walk to campus, passing Starbucks, Chipotle, and other amenities in the Charles Village shopping district on the way. 3012 N Calvert St. is patrolled by Hopkins campus security, and has an “A” crime grade, meaning it is on one of the safest blocks in Baltimore. This location has WalkScore of 94, earning the title “Walker’s Paradise”. The neighborhood is served by the Charles Village Benefits District–this nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.

Investment Summary:

$499,000
$166,333 Per Unit
$165 Per Sq. Ft.
14.9 Times Actual Rent (GRM)
9.0 Times Market Rent (GRM)
7.64% Cap Rate
12.0% Projected Cash-on-Cash Return

Next Steps:

Click here to schedule a tour:  mailto:tom@benfrederick.com
or Call 410-235-5200 to discuss your investment objectives and criteria.