101, West Lexington Street, Mount Vernon, Baltimore, Maryland, 21201, United States
Totally renovated in 2017 by a quality local builder, this fully leased 6-unit property on a prime downtown corner is sure to produce excellent cash flow returns for many years to come.
Enjoy the low maintenance and operating costs of an essentially new building, including new rubber roof, new electrical, plumbing, windows, heat pumps with central air, tank-less water heaters, new drywall, new floors, appliances, kitchen cabinets and counter tops. Tenants will appreciate the security of a video intercom entrance door system and ADT alarm system in each apartment. All units have their own systems and are separately metered.
Charles Plaza is across the Street, featuring restaurants, shops, offices, and numerous apartments. Catholic Relief Services world headquarters are in the next block at 228 W Lexington Street. Light Rail and Subway stops are within 3 blocks. The $40 million renovation of the historic Lexington Market is taking place 2 blocks to the west of this property.
The Historic Hippodrome Theater and Everyman Theater are within 3 blocks. The University of Maryland Downtown Baltimore Campus, along with the associated University Hospital and Baltimore’s VA Hospital are a short 5 blocks away.
Oriole Park at Camden Yards, Baltimore Raven’s M&T Bank stadium and Royal Farms Arena are all within walking distance.
Offered at $1,100,000
8.57% cap rate
11% cash-on-cash return on investment