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Description

Great opportunity to invest in a Value Added property in Baltimore’s Downtown Business district.  In an up and coming area, 15 min walk to Inner Harbor or City Hall/10 min walk to Convention Center or Royal Farms Arena.

This mixed use building has a nicely renovated modern First floor retail store that is rented for a $1,000 per month.  Spacious upper floors (each floor is 693 sq feet) can be used as an artist loft or developed it into a two bedroom apartment with future potential rent of $1500.

Across the street from a brand new 76 unit apartment building and a 42 unit La Quinta Inn and Suites.  The Mount Vernon Market Place Food Hall is just up the street.  These new developments plus many more make this a great location in which to invest.

 

INVESTMENT SUMMARY:
$195,000 Investment
$ 97,500 per unit
$92.46 per sq.ft.
9.0 GRM
8.10% cap rate
10.4% cash-on-cash return on investment

Property Documents

  • Address: 234 Park Ave
  • City: Baltimore
  • State/county: Maryland
  • Zip/Postal Code: 21201
  • Neighborhood: Downtown
  • Country: United States

Detail

Updated on June 6, 2019 at 12:28 am

  • Property ID: Park234
  • Price: $195,000
  • Property Size: 2109
  • Units: 2
  • Bathrooms: 1
  • Year Built: 1920
  • Property Type: Commercial - Mixed Use - Retail
  • Property Status: For Sale

Contact info

Audra Russo
Audra Russo
443-858-6003

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