1017 W. Cross St: 4 Renovated Apts in Pig Town, steps away from Orioles & Ravens

1017 W. Cross St: 4 Renovated Apts in Pig Town, steps away from Orioles & Ravens

1017 W. Cross St: 4 Renovated Apts in Pig Town, steps away from Orioles & Ravens

1017 W Cross St, Baltimore, MD 21230, USA

SOLD COMP

$378,000

Property ID :

 Cross1017

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Units
4
Bathrooms
4
Garage
2
Sq Ft.
2770

Description

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

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