837, Hollins Street, Hollins Market, Baltimore, Maryland, 21201, United States
OFF MARKET
$860,000
Property ID :
RH-19603-property
This is a great opportunity to own a value add, 8 unit investment property within walking distance to University of Maryland Hospital and it’s 5 Graduate schools, University of Maryland BioPark, revitalized historic Hollins Market, Camden Yards and M&T Bank stadium. The buildings rents are currently low, allowing a new owner to upgrade apartments and raise rents and returns.
The properties unique/varied unit mix:
1 three bedroom, two bath apartment 1 two bedroom, two bath apartment 1 two bedroom, one bath apartment 1 one bedroom, one bath apartment 4 studio apartments
One of the studio apartments, having been recently renovated, shows what the apartments could be with a little upgrade. Stainless steel appliances, granite counter tops, new laminate flooring, redone bathroom, new carpeting, and a fresh coat of paint allow the landlord to potentially raise rents and increase returns. All units have 24″ stainless steel sinks, a 30″ gas range, refrigerator, laminate countertops and wooden cabinets. Four of the units have a dishwasher and one has an in unit washer/dryer. Additionally, there is a shared coin operated washer/dryer conveniently located in the 1st floor hallway. The center staircase is complimented by a large skylight. The large lot provides space for parking along with a 2 car garage that provide opportunities for additional revenue.
All units are separately metered for gas and electric allowing the tenants to pay their own utilities. The landlord currently pays for water. Each unit has its own gas fired furnace and 40 gallon hot water heater. The roof was redone in the last five years. Replacement vinyl windows throughout.
The location of 837 Hollins Street is great. The University of Maryland downtown campus is 1 block away with its 5 graduate schools. The grad schools do not offer housing, leaving 6000 grad students looking for reasonable housing in the surrounding neighborhoods. Camden Yards and M&T Bank stadium are close by presenting the opportunity for VRBO rentals if the owner so choses. The location earns a Walk Score of 91, a Transit Score of 82 with a Crime Grade of A making it one of the safest neighborhoods in Baltimore.
Check out this short Video about the cool things in Hollins Market Neighborhood. Here is a video explaining the University of Maryland Downtown Baltimore Campus.
$860,000.00 $107,500.00 per unit $116 per sq ft 9.2 GRM (gross market rent) 7.26% Cap Rate 7.9% ROI (cash on cash return)
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.
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