3110, North Calvert Street, Charles Village, Baltimore, Maryland, 21218, United States
Does Johns Hopkins student housing fit your business model? Add this 17-unit investment offering to your portfolio! These buildings have a prime location within Charles Village, and you’ll have positive cash flow starting day one.
3110 – 3116 N Calvert St are four contiguous buildings, housing 4 efficiency apartments, 11 one-bedroom apartments, and 2 two-bedrooms apartments. All the apartments are leased to Johns Hopkins University students, who often rent an entire building as a group! The apartments have been upgraded: many have kitchens with granite countertops and stainless steel appliances, some bathrooms have ceramic tile floors and modern vanities, and new or refurbished flooring. All four buildings have vinyl replacement windows, and 90 lb mineral felt roofs replaced circa 2016.
All utility charges are passed through to the tenants–including water, sewer, heat, hot water, gas and electric–so the owner’s operating costs stay low! Each building is served by a gas-fired steam boiler with radiator distribution. Each building has its own laundry facilities–two in the basement common areas, and two in their private basement apartments. Tenants are privy to 8 parking spaces in the rear, rented for $50/month each.
Located just two blocks from Johns Hopkins University Homewood campus, these rentals are 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. 3110 – 3116 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.
With the winning combination of location and quality apartments, these buildings are easy to rent, and easily profitable!
$1,875,000 $110,294 Per Unit $174 Per Sq. Ft. 8.8 Times Actual Rent (GRM) 8.7 Times Market Rent (GRM) 7.93% Cap Rate 12.7% 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