11 N Paradise Ave, Baltimore, MD 21228, USA
4,900 3-story frame detached mansion house converted into 5-apartments. All units are rented to long-term tenants. 1.26-acre site offers sub-division and development opportunities. 3 garages provide 5 covered off-street parking spaces.
Also offered for sale is 22 Cedarwood Road, immediately behind this property, which is improved by a vacant 2-unit apartment building on a 4,000 sq.ft. lot for $275,000.
These apartments have older kitchens and baths. Some units have hardwood floors, other units have wall-to-wall carpet over presumed hardwood floors. Current tenants have been in place for 8 years to 22 years.
The roof and structure appear to be sound. There is much opportunity to make improvements to this property with commensurate opportunity to bring rents in-line with the attractive market that this Baltimore County location affords.
Some environmental conditions include a 1,000 gallon underground oil tank, asbestos insulated heating pipe and heat shield, and a presumption that lead-based paint exists in this property.
$70,000 per unit
$71 per sq.ft.
6.5 Cap Rate
OPPORTUNITY TO INCREASE THESE NUMBERS is Priceless.