310, East Lanvale Street, Greenmount West, Baltimore, Maryland, 21202, United States
For Sale - Under Contract
Completely rehabbed in 2019, 310 E Lanvale features outstanding workmanship and detailed finishes. This stunning 4-unit building offers modern conveniences and living spaces, catering to first-class residents. Greenmount West is a burgeoning neighborhood in Central Baltimore. Invest in this renovated apartment building and become part of this growing community.
Kitchens feature silestone counters, rich wood cabinets, and stylish stainless steel ranges, dishwashers, and refrigerators. Each of the two-bedroom apartments has two full bathrooms, with chic vanities, ceramic tile floors, and fiberglass tubs or shower stalls with ceramic tile enclosures. Elegant hardwood floors run throughout the apartments.
As an end-of-group, this 4-unit townhome gets lots of natural light with windows on three sides. Paired with tall ceilings and recessed lighting, these units give a sense of grandeur that can only be achieved in a historic Baltimore renovation.
310 E Lanvale has been granted a 10-year CHAP tax credit for historic rehabilitation and restoration. The remaining 8 years of CHAP tax credit is fully transferrable to the new owner.
Each apartment is separately metered for electric (no gas), so each tenant pays for their usage including cooking, heating, cooling, and hot water. A special water consumption monitor splits the water bill based on usage, making water billing simple, fair to tenants, and cost-effective for the landlord.
The apartments utilize ductless mini-splits for heating and cooling. Each apartment has its own laundry, and its own electric water heater. 310 E Lanvale has 400 amp electric service, with five electric meters; all new c-pvc and pvc plumbing; and a TPO roof. Fire safety is provided via a sprinkler system.
Located in Central Baltimore, Greenmount West is a growing community “in the heart of Baltimore City’s arts and entertainment district.” This neighborhood is prime for commuters, less than a half mile from Penn Station, and with easy access to I-83 for workers downtown or to Baltimore County. 310 E Lanvale garners a WalkScore of 83, a TransitScore of 78, and a BikeScore of 79.
$795,000 $198,750 Per Unit $300 Per Sq. Ft. 12.3 Times Actual Rents 11.9 Times Market Rents 6.92% Cap Rate 9.6% Projected 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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