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

  • DCIM100MEDIADJI_0148.JPG
  • DCIM100MEDIADJI_0145.JPG
  • DCIM100MEDIADJI_0152.JPG
  • 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
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  • DCIM100MEDIADJI_0135.JPG
  • DCIM100MEDIADJI_0141.JPG

Property ID :

 RH-11731-property

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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

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