869, Hollins Street, Poppleton, Baltimore, Maryland, 21201, United States of America
Many updates in this very well maintained property. Two townhouses, next to each other, combine to provide solid cash flow from 8 apartments. The mix of 5 studios, a one-bedroom, and 2 two-bedroom two-bath apartments are appealing to students, researchers, and lab technicians at the $450 million University of Maryland Bio-Technology Park which is directly across the street from this property. In addition to the Bio-Technology Park, the University of Maryland Downtown Baltimore Campus, with its University Hospital, world-renowned Shock Trauma Center, and VA Hospital is just one block from this property.
Apartments feature new hardwood flooring, vinyl replacement windows, updated kitchens and baths.
This section of Hollins Street is essentially a dead-end street with little through-traffic, making it an attractive option for renters seeking a more peaceful environment while still close to the action and convenience of Downtown. Hollins Market is a high-growth up-and-coming neighborhood.
$600,000 for two large buildings
$75,000 per unit
$93 per sq.ft.
7.6 Times Gross Rent (GRM)
7.6 Cap Rate
9% cash-on-cash return on investment