1735, Park Avenue, Bolton Hill, Baltimore, Maryland, 21217, United States
A great opportunity to own an investment property with 3 recently renovated, well maintained apartments in Bolton Hill within walking distance to all of one of Baltimore’s premier neighborhoods has to offer. The 3 units feature historic character with exposed brick walls, wood floors and 10 ft high ceilings. The property sets up well for FHA (owner occupied) financing, live in one unit and let the others pay your mortgage. Check out our House Hacking video to learn more about the advantages of owner occupied investing.
The property setup: 1 spacious two bedroom, two bath, 2 level (first floor/ terrace level) apartment. The terrace level walks out to an a large enclosed, private brick patio for entertaining or just relaxing. The recently renovated cooks kitchen features a full compliment of stainless steel appliances, Corian counter tops island and glass front wooden cabinets. Marble tile bathroom floors with ceramic tile full size shower stalls and bathroom vanities with porcelain tops. The second level apartment consists one bedroom, one bath apartment with exposed brick walls, 10 ft high ceilings and a kitchen with stainless steel appliances and breakfast bar. The third level apartment is a one bedroom, one bath apartment with exposed brick walls, 10 ft high ceilings and a kitchen with a full compliment of appliances, ( gas range, dish washer, disposal, refrigerator and built in micro wave.
Mechanically, the building is in good shape. The landlord currently pays for heat and water. The apartments are separately metered for electric and gas. All apartments have 40 gallon hot water heaters. (Unit #2 new 2021) The windows are wooden in the front and vinyl replacement in the rear. All the apartments have in unit stacked washer/dryers. The roof is roll down shingle that appears to be in good shape.
The location is one of the highlights of 1735 Park Avenue as evidenced by a Walk Score of 76 (most errand can be accomplished on foot), a Transit Score of 71 ( excellent transit) and a Bike Score of 81 (excellent bike lanes) The light rail is a 7 minute walk away giving you access to Downtown, Camden Yards and M&T Stadium. Penn Station is a 5 minute drive giving you access to Amtrak making a commute to Washington DC or New York city a breeze. Maryland Institute College of Art, MICA, the nation’s third highest rated art school, is just around the corner (1 block). Exceptional restaurants, coffee shops and high-end shopping abound within walking distance of this investment property in Bolton Hill.
$430,000.00 $143,333 per unit 126 per square foot 9.1 times market rent (GRM) 7.39% Cap Rate 10.7% 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”.
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