234, Park Avenue, Mount Vernon, Baltimore, Maryland, 21201, USA
$195,000 For Sale
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.
$ 97,500 per unit
$92.46 per sq.ft.
8.10% cap rate
10.4% cash-on-cash return on investment