1433, West Lombard Street, Mount Clare, Baltimore, Maryland, 21223, United States
Great opportunity to own a fully leased 4 unit apartment building that underwent a complete renovation in 2013 and is situated across the street from historic Union Square Park. Located less than a mile from Camden Yards, this 4 unit investment property offers solid cash flow with a 13.8% cash on cash return.
The unit mix is: 1 two bedroom/one bath and 3 one bedroom/one bath apartments. All kitchens have a 24″ stainless steel sink, 30″ electric range with built in microwave, refrigerator, laminate countertops and wooden cabinets. The spacious 1st floor two bedroom apartment offers an in unit washer/dryer and is complimented by a rear deck. The 3 remaining apartments utilize a coin operated washer/dryer conveniently located in the first floor hall. The 2nd floor rear apartment is a two-story unit with a rear deck and a spiral stair leading to a loft bedroom. All bathrooms have modern vanities and tub/shower with ceramic tile surround.
The physical plant is in good shape! Completely renovated in 2013, 1433 W. Lombard offers a chance to own a low maintenance, easy to manage property. This is an electric building with new (2013) service. Each apartment is separately metered with electric panel in unit allowing the tenants to pay their own utilities. All units have a (2013) separate heat pump with central air conditioning and separate 40 gallon water heaters. All the plumbing is new along with a new rubber roof. The building is Limited Lead Free per MDE standards. Once this certificate is issued, no additional interior inspections are needed. Exterior and common areas must be checked for defective lead-based paint every two years with a visual inspection.
1433 W. Lombard is located across from historic Union Square Park. Nineteenth and 20th-century rowhomes surround the neighborhood’s namesake main square center. The neighborhood is also home to several art galleries, artist studios and a bed and breakfast. 1433 West Lombard Street has a Walk Score of 92 out of 100. This location is a walker’s paradise so daily errands do not require a car. The location is minutes from the University of Maryland medical campus with its 5 graduate schools, Camden Yards and M&T Bank stadium are minutes away as well.
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