1017 W Cross St, Baltimore, MD 21230, USA
SOLD COMP
$378,000
Property ID :
Cross1017
A corner building on a Extra wide 25 1/2 foot lot means this offers the tenants great light and generous sized rooms. Totally renovated about 15 years ago, this building offers all of the modern amenities a quality tenant and an owner could want: exposed brick walls, lead-free interior, all separate utilities, central air conditioning and a full size washer/dryer in every apartment!
Though the current owner does not charge extra for the two off-street parking spaces, this is a source of addition revenue for the new investor.
The interiors have hardwood flooring, high ceilings with a ceiling fan in every apartment, ceramic tile kitchen and bathroom floors, upgraded kitchen cabinets with granite counters and a complete stainless steel appliance package, including full size electric range, dishwasher, disposal, built-in microwave, and refrigerator. The first floor rear unit is licensed only as an “efficiency unit” so it has a built-in cook top only (no oven or stove).
Each apartment has its own energy efficient heat pump with central air conditioning, except for the efficiency unit which has a wall-hung mini-split air handler that provides both warm air and air conditioning. Each apartment has its own water heater.
The building is ideally located on more of a side street in a neighborhood know affectionately as “Pig Town” complete with its own festival, local shops and restaurants nearby. Appealing to both professionals working downtown and the 5,000 graduate-level students at the University of Maryland Downtown Campus (just over a half-mile away), Oriole Park at Camden Yards and Ravens Stadium are each just a 10-minute walk from this property.
Super convenient, this property has a Walking Score of 90, a Transit Score of 65, and a biking score of 77.
It is easy to keep this property fully rented. This is an easy property to own, manage, and maintain.
INVESTMENT HIGHLIGHTS:
$395,000 Investment Offering
$ 98,750 per unit
$ 143 per sq.ft.
102 times the monthly rent (8.5 times the monthly rent)
8.2% Cap Rate
11% Cash-on-cash return on investment
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