2645 North Calvert St: 3 Apartments in Charles Village, Renovated 2014!

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