1420, Light Street, South Baltimore, Baltimore, Maryland, 21230, United States
2 Blocks south of the newly renovated Cross Street Market, in the heart of Federal Hill, residents enjoy a 15-minute walk to Baltimore’s Inner Harbor, 20 minute walk to Raven’s Stadium and Oriole Park, and a 30-minute walk to University of Maryland Hospital make this location in Federal Hill extremely popular with residents desiring a quality of life that includes great food, taverns, and entertainment is a very walkable neighborhood. Owning an investment in such a popular area translates into high occupancy rates and ever-increasing rental rates.
5 Fully-leased apartments feature a tenant profile of higher-income, higher-educated professionals which usually translates into prompt rent payments. A mix of three (3) studio apartments and two (2) one-bedroom apartments makes these apartments extremely popular and affordable, resulting in very high occupancy rates, which means less down-time, and thus higher cash flow. With these rents at the low end of the market range for Federal Hill, there is plenty of room to increase rents over time.
Solid brick building. All kitchens and bathrooms have been updated. All kitchens have new granite counters and young appliances, with each apartment having a dishwasher and a full size refrigerator. Laundry is conveniently located in the lower level of the building with full size coin-operated machines. Bathrooms have all been updated with ceramic tile floors, modern vanities, and most with ceramic tile tub surrounds. Cute light fixtures and ceiling fans throughout the property provide an inviting and attractive decor with features tenants appreciate. The rubber roof has been coated to create a reflective surface that reduces utility bills for your tenants while providing years of worry-free service protecting your property.
Walk Score rates this location with an astounding walk score of 94, making this a very walkable community; the bicycle score is a desirable 74, attracting bicycle commuters and enthusiasts, while the transit score is rated 65 with the area being serviced by the free Charm City Circulator. Walk Score rates this location “A” for personal crime, meaning it is a safe neighborhood in which you and your tenants can have fun.
$142,000 per unit
$224 per square foot
11 times gross rent (GRM)
6.3 Cap Rate
6% Cash-on-Cash Return on Investment
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”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman