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.
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