1321 Eutaw Place: Huge Historic Mansion – 7 Apts Near MICA

1321 Eutaw Place: Huge Historic Mansion – 7 Apts Near MICA

1321 Eutaw Place: Huge Historic Mansion – 7 Apts Near MICA

1321, Eutaw Place, Bolton Hill, Baltimore, Maryland, 21217, USA

OFF MARKET

$1,200,000

  • 08 Stret Scene Looking North
  • 02 1321 Eutaw
  • 07 Street Scene Looking South
  • 46 3F Bedroom 2
  • 72 T2 Kitchen
  • 70 T2 Living Room
  • 66 T1 Bedroom 1
  • 63 T1 Living Room
  • 62 T1 Kitchen
  • 53 3R Bath
  • 52 3R Kitchen
  • 50 3R Living Room
  • 47 3F Living Room
  • 45 3F Kitchen
  • 44 3F Bedroom 1
  • 41 3F living dining
  • 40 3F Living Room
  • 25 2F kitchen
  • 23 2F Bedroom 1
  • 22 2F Kitchen
  • 21 2F Living Room
  • 20 2F Living Room
  • 19 Rear Bedroom
  • 18 bathroom
  • 17 rear middle room
  • 16 Middle Room
  • 15 Middle Room
  • 13 1st Flr Kitchen
  • 91 Roof rear view
  • 03 Rear View
  • 90 Rubber Roof front

Property ID :

 RH-11731-property

Units
7
Garage
7
Sq Ft.
8,554 sq. ft
Year Built
1880

Description

7 massive apartments with historic features such as original wood trim, crown molding, pocket doors, and multiple marble fireplace mantels. A total renovation in the mid-1980s means all copper water pipes, 100 Amp new wiring circuit breaker electric service to each apartment, separate gas-fired heating systems with central air conditioning.  Since this is an end-building, it has ample windows providing abundant natural light to each apartment. The current owner has provided meticulous maintenance to this building, with a newish rubber roof, newer appliances, many newer kitchen cabinets, and updated baths.

The 55′ wide lot provides a side yard with privacy fence for tenant use and 7 off-street parking spaces.

Tenants pay all utilities, with separate furnaces, separate water heaters and separate gas and electric meters for each apartment.

100% occupied, this property is 3 blocks from Maryland Institute College of Art, and 2 blocks from the State Center Metro Station and the large employment base at the State Office Building Complex making this an area with continued rental demand.

OFFERING SUMMARY:
$1,200,000
$171,429   per unit
$140  per square foot
10.2 Times current actual rent (GRM)
9.3 Times Projected Annual Rent (GRM)
7.5%  Cap Rate
8%  projected cash-on-cash return on investment

Features

Property on Map