3631 Elm Ave: Hampden Fully Leased 3-Unit just off “The Avenue”

3631 Elm Ave: Hampden Fully Leased 3-Unit just off “The Avenue”

3631 Elm Ave: Hampden Fully Leased 3-Unit just off “The Avenue”

3631 Elm Ave, Baltimore, MD 21211, USA

SOLD COMP

$270,000

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Property ID :

 Elm3631

Units
3
Bathrooms
3
Sq Ft.
2598

Description

Fully leased 3-Unit.  Spacious Porch-front End-of-Group each with 2-Bedrooms just off of “The Avenue”.  Some kitchens and baths have been remodeled and some are vintage.   Hardwood floors, plaster walls with high ceilings.

30′ wide lot with large fenced rear yard offering possibilities to add parking.

Located just off of “The Avenue” with all of its shopping and entertainment possibilities plus good access to transportation.  2 blocks south of the newly redeveloped “Rotunda”.  Check out this video from the Hampden Merchants Association

This property has below market rents and offers an excellent opportunity to improve cash flow with some choice upgrades and improved marketing.  Hampden is one of the hottest neighborhoods in Baltimore so this one won’t last long.  Check out this

Investment Summary:

$300,000  investment
$ 100,000 per unit
$115 per sq.ft.
$2,685 monthly rent with tenants paying all utilities
9   Times Gross Rent
7.5  Cap Rate

Property Attachments

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