1501, Park Avenue, Bolton Hill, Baltimore, Maryland, 21217, United States
A great opportunity to own a extensively renovated self contained 7 unit investment property located on a corner lot in the heart of Historic Bolton Hill with culture, architecture, history, entertainment and exceptional food at your doorstep.
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Mechanically the building is in great shape! New 800 Amp service into the building with separate new 100 Amp panels in each apartment. Each apartment has its own gas fired furnace and central air conditioning systems. Each apartment has its own 30 gallon hot water heater. All units are separately metered for gas and electric allowing the tenants to pay their own utilities. There is one water meter into the building which can be billed back to the tenants to increase an investor’s return. The building is prewired for Internet service. The roof is torch down rubber, new in 2020.
The premier location of 1501 Park Avenue is one of Baltimore’s best as evidenced by its Walk Score of 82 (“most errands can be accomplished on foot”), its Transit score of 79 (“transit is convenient for most trips”) and its Bike Score of 83 (“excellent bike lanes”). Located on a great tree lined block, The Bolton Hill swim and tennis club is 3 blocks away, Maryland Institute College of Art, MICA, the nation’s third highest rated art school, is just around the corner (1 block). The Light Rail stop is 2 short blocks away and the Baltimore Subway is 3 blocks away. Baltimore’s Penn Station, which AMTRAK services to Boston, New York, Washington DC, and beyond, is a reasonable 6 block walk. Exceptional restaurants, coffee shops and high-end shopping abound within walking distance of this investment property in Bolton Hill.
$1,075,000.00 $153,571.00 per unit 244 per square foot 10.6 times market rent (GRM) 6.90% Cap Rate 7.4% 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