1731, Guilford Avenue, Greenmount West, Baltimore, Maryland, 21202, United States of America
A prime opportunity to own a fully-leased, well maintained 4-unit apartment building. This former owner occupied building sits on a quiet street in the up-and-coming Station North Art / Greenmount West District.
The unit make up is a 2 level, 2 bedroom, 1 1/2 bath apartment, 2 1 bedroom, 1 bath apartments and an Efficiency. All units have stack able washer/ dryer units. The flooring in the first and second floor is wood laminate, the 3rd floor has beautiful hardwood. The kitchens all have 30″ electric ranges, refrigerators and disposals. All have wooden cabinets with laminate counter tops in the 1st and 2nd floor with granite on the 3rd floor. Bathrooms all have modern vanities with ceramic flooring, the 1st and 2nd floor having cast iron shower tub, the Efficiency and 3rd floor have modern walk in showers.
Mechanically the building is solid. All new separately metered electric service with 150 Amps to each apartment. Each unit has its own HVAC system. There is a new 2″ copper water main with a wet sprinkler system. The roof was replaced in 2012 with a torch down rubber roof. The building is Certified Lead Free which removes the cost and hassle of Lead Inspections.
The property is located within a 10 minute walk to Penn Station making it a great location for commuters. This building has a WalkScore of – 86/100, TransitScore of – 79/100, and a BikeScore of 89/100. This section of Guilford Avenue is an official biking road in the city of Baltimore with on street bike facilities. The revitalization of the area is evidenced by the number of high end rehabs within a two block radius.
This property represents a good investment with a 15.2% cash on cash return and 9.13% Cap Rate.