905 N Calvert St: 4 Apts in Historic Mount Vernon
SOLD COMP
Description
Mount Vernon is one of Baltimore’s strongest and most endearing rental markets. Historically high occupancy rates enhance ease of management and financial performance. Peabody Conservatory is just 4 blocks away, the Charles Street business district is two blocks away with its many restaurants, bars, and cultural attractions, including Center Stage, the Walters Art Gallery and Symphony Hall.
905 N. Calvert Street is a fully leased 4-unit apartment property with tenants paying all utilities. These are moderately priced apartments, with an average rent of $850, which are attractive to a stable tenant base. Kitchens and bathrooms are serviceable and in good condition. There is opportunity to upgrade the amenities in this building and thus increase rents.
Calvert Street Lofts, for example, at 824 N Calvert Street are new apartments renting for $1,400 for a one-bedroom and $2,200 for a two-bedroom.
Get in on the action with an investment in 905 N. Calvert Street today!
INVESTMENT SUMMARY:
$445,000 Investment
$111,250 per unit
$168 per sq.ft.
10 GRM
7.1% cap rate
7.6% cash-on-cash return on investment
911 N. Calvert St: Mount Vernon 4 Unit Apartment Property