3020, North Calvert Street, Charles Village, Baltimore, Maryland, 21218, United States
Meticulously cared for by its owner-occupant sellers, these four large full-floor 900 sq. ft. apartments offer a turn-key investment opportunity. Located on a prime block in Charles Village, just steps away from Johns Hopkins University Homewood Campus. 3020 North Calvert Street is ready to provide a new owner steady investment returns with low maintenance and first-class tenants.
The owner-occupied first floor apartment boasts a kitchen with quality wood cabinets, a butcher-block wood countertop, and stainless steel appliances. The second floor apartment kitchen is also upgraded, with a dishwasher and garbage disposer. Third floor and terrace apartment kitchens have sturdy wood cabinets, and easy-to-clean laminate countertops and laminate flooring. Bathrooms feature full-sized tubs with sturdy vinyl and ceramic tile enclosures with laminate and ceramic tile flooring.
Above-grade apartment living areas feature hardwood floors and plaster walls and ceilings; the terrace apartment has laminate and ceramic tile flooring, drywall walls, and Celotex ceilings. The first floor apartment has a unique corrugated steel ceiling in the living room. Vinyl replacement windows throughout offer ample natural sunlight to these large apartments. Off street parking is available with a concrete parking pad that can fit up to 4 vehicles.
The second floor apartment tenant enjoys an in-suite stacked clothes washer & dryer.
3020 Calvert is heated by a gas-fired hot water Columbia boiler. Apartment 2 has central air conditioning; apartments 1, 3 and the terrace use window units. Each apartment is served by a separate gas-fired water heater, all replaced within the last 3 years.
Upgraded in 2013, this building has 200 amp electric service. There are 5 electric meters and 4 gas meters. The tenants pay their own gas and electric; the owner currently pays for heat, public service electric, and cold water. A savvy landlord would increase cash flow by passing these charges along to the tenants.
The rubber roof was replaced in 2015 and was recoated in 2019. All visible interior water supply pipes are copper; all visible drain lines are pvc.
Tenants can walk one block to the Charles Village Shopping District, and two blocks to Johns Hopkins University Homewood Campus and Wyman Park. Just a few doors down is the Calvert Court Co-ops, a prestigious owner-occupied cooperative–the first of its kind in Baltimore! 3020 North Calvert Street earns the designation “Walker’s Paradise” with a WalkScore of 94, a TransitScore of 57, 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.
3020 North Calvert Street’s sellers owner-occupy the first floor apartment, and could offer a seller rent-back through the spring of 2022.
$595,000 $148,750 Per Unit $204 Per Sq. Ft. 10.3 Times Market Rent (GRM) 7.38% Cap Rate 11.1% Projected Cash-on-Cash Returns
Email Tom Fair at Tom@BenFrederick.com or call 410 235 5200 for more information, or to schedule a tour.
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