113, West 22nd Street, Charles North, Baltimore, Maryland, 21218, United States
Add this fully-occupied, lead free building to your investment portfolio and gain instant returns! 113 W 22nd St. is an all-brick building in Charles North, with 3 one-bedroom apartments.
All units are leased out to stable tenants on yearly leases. Each unit is separately metered for gas and electric, and each has its own boiler for heating–so the landlord’s operating costs stay low! The apartments are spacious an contain various upgrades to bathrooms and kitchens. There is room to improve the units further and capture higher rents as well!
Charles North is an attractive neighborhood for renters. According to LiveBaltimore, renters constitute 93% of this neighborhood’s residents! 113 West 22nd St is conveniently located near Maryland Institute College of Art (MICA) and University of Baltimore, and is just four blocks from Penn Station! The Maryland Avenue Cycle Track runs along the east side of this block, adding appeal for bike commuters as well. This neighborhood has a walk score of 92, a bike score of 90, and a transit score of 78.
Many investors and entrepreneurs have helped in rejuvenating this area of Baltimore. Recent restaurant openings include Dutch Courage, a “gin-centric” cocktail bar, and Larder, a farm-to-table café just two blocks north. Residents in this area enjoy the mix of eclectic eateries, bars, and art and entertainment venues.
Make an appointment to see this income-producing property today!
Investment Summary: $279,000 $113 Per Sq. Ft. $93,000 Per Unit 8.6 Times Actual Rent (GRM) 9.4 Times Projected Rent (GRM) 7.80% Cap Rate 11.7% 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