127 W Read St, Baltimore, MD 21201, USA
Charming, renovated, affordable 2-unit investment property in the heart of the ever-popular Mount Vernon Historic District. Fully rented. Long-term office tenant has been there 10 years. Cool, open two-story one-bedroom apartment on the upper floors. Historic features include hardwood floors, high ceilings and exposed brick walls.
Each unit has its own gas-fired forced air heating system with central air conditioning and gas-fired water heater. 200 Amp of power to the building with 100-Amp modern circuit breaker service to each unit.
99 Walking Score
86 Transit Score
81 Bike Score.
Mount Vernon is one of Baltimore’s Premier Historic Neighborhoods. Peabody Conservatory School of Music (part of the Johns Hopkins University system) is a short walk away, as is University of Baltimore and Maryland Institute College of Art (MICA is the 3rd highest rated art school in the country). Meyerhoff Symphony Hall, Lyric Opera House, Center Stage, and numerous restaurants are all within an easy walk. Baltimore’s Light Rail stop is just 2 blocks away and Penn Station (with MARC service to Washington DC and AMTRAK service to New York and Washington DC) is a .7 mile 15-minute walk.
$162,500 per unit
$2,900 current monthly rent
9.3 Gross Rent Multiplier (GRM)
8.3 Cap Rate
9.2% Projected Cash-on-Cash Return on Investment