2213 N. Charles: 3 Apartments In Old Goucher

2213 N. Charles:  3 Apartments In Old Goucher

2213 N. Charles: 3 Apartments In Old Goucher

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Description

3 one-bedroom apartments featuring updated kitchens and baths, and a washer-dryer in each apartment.  Separate electric heat and separate water heater for each apartment make these units self-contained.  Updated electric service and newer water pipes gives this building a good mechanical structure.   Some of the finishes are older, so modest upgrades will bring higher rents.

Located 8 blocks below Johns Hopkins Homewood Campus and 3 blocks north of Station North Arts District, this area is on the up-swing with strong prospects for future growth.

Charles Street is like “Main Street” in Baltimore, so a Charles Street address is desirable for commercial tenants.  The area is served by main bus routes.  With a 95 Walking Score and an 89 Biking Score, this location is super-accessible and convenient.

INVESTMENT SUMMARY:
$265,000  offering
$83,333  per unit
$118 per sq.ft.
7.6 times gross annual rent (GRM)
7.8% Cap Rate
8% cash-on-cash return-on-investment