ben logo

Call (410) 235-9500

Facebook-f
Youtube
Linkedin
  • Ben Frederick Realty
  • Client Reviews
  • Listings
  • Resources
    • Blogs and Videos
    • Mailing List Signup
    • Rental License Requirements
    • Flood Zones and Floodplains
    • Broker Relationship Disclosure
    • Comparable Sales
    • Pending Sales
  • About
    • Agents
    • Brokerage Relationship Disclosure
  • Contact
Menu
  • Ben Frederick Realty
  • Client Reviews
  • Listings
  • Resources
    • Blogs and Videos
    • Mailing List Signup
    • Rental License Requirements
    • Flood Zones and Floodplains
    • Broker Relationship Disclosure
    • Comparable Sales
    • Pending Sales
  • About
    • Agents
    • Brokerage Relationship Disclosure
  • Contact

828 West Lombard: 5 Apartments in Hollins Market/ 1 Block from University of Maryland Grad Schools/ Value Add Opportunity

828 West Lombard: 5 Apartments in Hollins Market/ 1 Block from University of Maryland Grad Schools/ Value Add Opportunity

828 West Lombard: 5 Apartments in Hollins Market/ 1 Block from University of Maryland Grad Schools/ Value Add Opportunity

828, West Lombard Street, Hollins Market, Baltimore, Maryland, 21201, United States of America

For Sale - Under Contract

$285,000

  • DSC_0343
  • DSC_0363
  • DSC_0364
  • DSC_0365
  • DSC_0348
  • DSC_0387
  • DSC_0390
  • DSC_0392
  • DSC_0397
  • DSC_0403
  • DSC_0406
828 West Lombard: 5 Apartments in Hollins Market/ 1 Block from University of Maryland Grad Schools/ Value Add Opportunity

Property ID :

 RH-15522-property

Share

Added to favorites

Add to favorites

Print

Units
5
Bathrooms
5
Year Built
1920
Sq Ft.
2202 sq ft
Lot Size
1425 sq ft

Description

A great opportunity to own a 5 unit multifamily property within walking distance to University of Maryland Hospital / Graduate School campus, Camden Yards and M&T Bank stadium.

828 West Lombard consists of 5 junior 1 bedroom / 1 bath apartments. The apartments offer full kitchens with wood cabinets with ample counter space. There is a small common area plus a full sized bedroom and bath. The units are fully functional but also offer a value add opportunity that would allow an investor/owner to raise rents and increase their investment returns.

Mechanically the building is sound. The torch down rubber roof was replaced in the last 10 years. This is an electric building with 400 Amp service. All units are separately metered with 100 Amp separate panels in the basement. Each unit has its own 40 gallon hot water heater. The free washer/dryer is located in the basement. This could be converted to coin-op for added revenue. The units all have electric base board heat. The building is certified Lead Free Limited and zoned R8 for 5 dwelling units.

The location of 828 West Lombard is great. The University of Maryland downtown campus is 1 block away with its 5 graduate schools. The grad schools do not offer housing leaving 6000 grad students looking for reasonable housing in the surrounding neighborhoods. Camden Yards and M&T Bank stadium are close by presenting the opportunity for VRBO rentals if the owner so choses. The location earns a Walk Score of 91, a Transit Score of 79 with a Crime Grade of A making it one of the safest neighborhoods in Baltimore.

828 West Lombard presents a great investment opportunity with a 9% Cap Rate and a 13.3% Cash on Cash return with the opportunity for value add to increase returns.

Investment Summary:
$285,000
$57,000 Per Unit
$65 Per Sq Ft
6.4 Times Market Rent (GRM)
8.98% Cap Rate
13.3% Projected Cash On Cash Return

Features

  • Carpet
  • Electric Range
  • Emergency Exit
  • Historic Character
  • Laundry On-Site
  • Lead-Free Limited
  • Near University
  • Next to busy way

Property Attachments

  • Cash Flow 828 West Lombard
  • Property Information-828 Lombard

Property on Map

will cannon

Agent Will Cannon III

Mobile:  410-916-3331

Email:  will@benfrederick.com

View Listings

Pages

  • Home
  • For Sale
  • Client Reviews
  • Blogs and Videos
  • Contact
  • Our Agents
  • Mailing List
  • LiveBFR - Apartment Rentals

Recent Posts

House Hacking Webinar Highlights

Read More

House Hacking – Buying an Apartment Building to Live in One Unit and Rent the Others

Read More

Is Baltimore Real Estate a Good Investment?

Read More

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”. 

© 2019. All rights reserved.

Proudly designed by Urban Ignite Marketing

711 Gladstone Avenue: 5 Apartments in Historic Roland Park 2645 N Charles St: 3 Apartments, Totally Rehabbed in 1992

Owning a home is a keystone of wealth… both financial affluence and emotional security.

Suze Orman
23rd January 2021 Saturday!
Ben Frederick Realty
  • Login
Forget Password?