2645, North Calvert Street, Charles Village, Baltimore, Maryland, 21218, United States of America
With recent renovations and great use of all spaces in the building, this fully-occupied rental property offers a fantastic addition to your portfolio or a stable, sure-fire start to investing in Charles Village! This building contains 2 1-Bedroom, 1 Bath units and 1 2-Bedroom, 2 Bath unit.
Each apartment has a separate entrance and is separately metered, and each has its own heating and cooling systems. Generous room sizes, tile bathrooms, hardwood floors, and a charming backyard add to the intrigue of this building.
This investment is sure to be low-maintenance and no-headache. 400 amp electrical service and copper plumbing offer top-of-the-line electrical and water service. Durable finishes throughout all apartments will lead to low turnover costs. The oversized 1-car garage has had roof, slab, and door replacements in the last 2 years.
Located near Johns Hopkins Homewood Campus, these units are sure to attract graduate students and employees of the University and nearby Union Memorial Hospital. Tenants enjoy a short walk to the Johns Hopkins shuttle bus stop at 27th & Saint Paul. 2645 North Calvert Street has a WalkScore of 90, a BikeScore of 86, and a TransitScore of 64.
Johns Hopkins University recently announced that only freshman students will be allowed to return to campus for the 2020 fall semester, creating a need for housing for sophomores in addition to juniors and seniors. Furthermore, the Blackstone building was recently closed for renovations, eliminating 98 units from the rental market– see https://www.benfrederick.com/blackstone/ . There will certainly be higher demand for apartments in Charles Village!
Make an appointment to see this income-producing property today!
Investment Summary: $350,000 $165 Per Sq. Ft. $116,667 Per Unit 9.0 Times Actual Rent (GRM) 8.6 Times Market Rent (GRM) 8.00% Cap Rate 11.9% Projected Cash-on-Cash Return
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