2643, Maryland Avenue, Charles Village, Baltimore, Maryland, 21218, USA
For Sale - Under Contract
$325,000 For Sale
Located in Historic Charles Village, this 3-story brick townhome features 3 full sized 1-bedroom apartments, completely gut-rehabbed in 1991 with upgraded kitchens and baths in 2005.
These large, well-lit apartments collect top-dollar rent. Each apartment is separately metered for gas and electric, and each has in-unit washer/dryer. Well-kept, clean apartments with modern amenities ensure quick tenant turnovers at little cost. This building is certified lead-free, so only a quick exterior inspection every 2 years is needed to satif MDE requirements.
This building has vinyl replacement windows throughout, a 90# mineral felt roof, and brick and concrete foundation. All kitchens and bathrooms have tile floors, with laminate/pergo flooring in living areas. Copper water main, with a mix of copper and pvc water pipes. First floor has gas-fired forced-air furnace with central air conditioning; second floor utilizes hot water radiator heat; and third floor is served by a gas-fired forced-air furnace. Each unit has its own Rheem 40-gal gas water heater, dated 2015-2016.
This building is centrally located in Charles Village between Hopkins University, MICA, and University of Baltimore. It features a Walk Score of 79, a Transit Score of 59, and a Bike Score of 58.
$108,333 per unit
$146 per square foot
9.0 times gross annual rent
7.8% cap rate
9.8% cash-on-cash return on investment