6012, Eunice Avenue, Westfield, Baltimore, Maryland, 21214, United States
For Sale - Under Contract
Fully leased and well maintained, this 4-unit investment property in the Hamilton neighborhood of Baltimore City, and brings in $41,940 in annual rents. Situated off of bustling Harford Road and tucked between one-way streets on a large corner lot. All apartments are self-contained, 2-bedroom, 1 bath, with gas-fired furnaces and the central air conditioning. Purchase this property for a potential 12% + cash-on-cash return!
Built in 1957 as apartments. Solid brick construction, each apartment has 10 windows, allowing for bright living spaces. 6012 Eunice offers a separate storage and laundry room for each tenant in the basement. The first floor of 6014 Eunice has the bonus of a full basement, with a washer and dryer and drop ceiling. Living areas are carpeted; kitchens and baths feature a mix of laminate and 12″ x 12″ vinyl tile floor. Kitchens feature 30″ fridges; 3 units have a 30″ gas range, with only 1 unit having a 24″ gas range. Top floor apartments have additional attic space for storage. Bathrooms have cast iron tubs with ceramic tile tub surrounds, mostly all wall-mounted sinks. Drywall walls are in excellent condition and 6014 units have some wood paneling. There is a paved parking pad in the rear of the building which fits 4 to 5 cars, depending on size.
Featuring a new asphalt shingle roof (2018) and 100% separately metered, with no public service accounts or bills. All but one window have been replaced with double pane, vinyl windows. All but one tenant is charged back for the water and sewer consumption, increasing the owner’s cash flow. The main interior water supply lines are copper. The main drain lines to the street have been replaced with C-PVC; interior drain lines are mainly galvanized with some C-PVC,
Tenants can enjoy walking around the neighborhood, easy access to Baltimore City or County and run many errands by foot. This investment property is just across the street from Bearfoot Farms, a local farm that has been serving the community for 20+ years. This Hamilton investment property is less than a half mile walk to the Enoch Pratt Free Library. Burdick Park Dog Park will be opening this year, Mount Pleasant Golf Course and Herring Run are a quick 10 minute drive. Big Box stores like Home Depot & popular grocery store ShopRite are less than 10 minutes away. Harford Road, through Hamilton, south to Lauraville and even north offer plenty of small owner operated shops as well. The neighborhood is in a “lower crime area”, crime grade B, according to WalkScore.
$112,500 Per Unit
$132 Per Sq. Ft.
10.7 Times Actual Rent (GRM)
8.9 Times Market Rent (GRM)
7.80% Cap Rate
12.1% Projected Cash-on- Cash Return
Call me @ 410-688-1348 to schedule a showing. Let’s add this property to your portfolio.
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Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman