2905 Charleston Ave in Halethorpe: 2 Apts + Shop/Garage

2905 Charleston Ave in Halethorpe:  2 Apts + Shop/Garage

2905 Charleston Ave in Halethorpe: 2 Apts + Shop/Garage

SOLD COMP

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Description

Fabulous opportunity to own a quality, well maintained 2-unit property 3/4 mile from Hollins Ferry Road Beltway Exit #9 near I-95.  Located in Baltimore County where you enjoy lower property taxes and a more favorable rent court system.  This property is just 6 miles from BWI Airport, which serves 70,000 passengers per day, generating many jobs for local workers.

Both apartments are rented, generating $2,150 per month.  Add another $300 rent potential from the huge shop/garage and this property produces a health cash flow of $2,450 every month.

The apartments are clean, modern, and up-t0-date with modern kitchens with a full size range, dishwasher, and refrigerator.  The living rooms are huge and there is a den/study.  The first floor apartment has a covered front porch and both apartments have a 20′ wide deck with views of the large rear yard and woods.  The property has just over 1/2 acre of land.

Each apartment has its own electric heat pump with central air conditioning.  The landlord pays for hot water.  Tenants pay all other utilities.

The landlord offers a free, full-size, washer and dryer for tenant use.

OFFERING SUMMARY:
$270,000
$135,000 per unit
110 times gross monthly rent
8.1% Cap Rate
10% cash-on-cash return on investment