3911 Roland: Development Opportunity next to The Rotunda

3911 Roland:  Development Opportunity next to The Rotunda

3911 Roland: Development Opportunity next to The Rotunda

Roland Avenue, Hoe's Heights, Baltimore, Maryland, 21211, United States of America

For Sale

$900,000

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Property ID :

 RH-14255-property

Units
6
Sq Ft.
14880 sq.ft. of land

Description

6 Houses were severely fire damaged two years ago, located at 3911, 3913, 3915, 3917, 3919, and 3923 Roland Avenue, Baltimore MD 21211. These houses need to be torn down and re-built. What are your ideas for redeveloping this site? Building new townhouses is the most obvious; yet the R-7 zoning would permit up to 18 units on the site, making multi-family development possible. Maybe you have another use or idea?

A total of 8 houses were involved in the fire. Ben Frederick Realty Inc. currently represents 6 of these owners. The other 2 properties were recently purchased by an investor. Ideally, these other 2 units could be acquired for a total of 8 contiguous lots.

Each lot is 15’6″ wide by 160′ deep, offering a deep lot with off-street parking. A 15′ wide dead-end dirt alley runs along the rear of the properties. R-7 Zoning requires 1,100 sq.ft. of lot area per dwelling unit, permitting 14 units on these lots as a matter of right, and 18 units if 3921 and 3925 are added to the development site. Each lot already has active water and sewer service.

Just north of these properties is the 14-story 180-unit Senior Apartments known as Roland View Towers, with its sister building located across the street at 3838 Roland Avenue. Just to the rear is The Rotunda, featuring 379 apartments that were newly constructed 2016 along with The Rotunda’s 200,000 sq.ft. office and retail complex, featuring first class tenants such as MOM’s Organic Food Market, Starbucks, Barre Fitness, UPS, Cinebistro, and more. 3 blocks south of this site is “The Avenue” in Hampden featuring many bars, restaurants, and local shops.

New apartments at The Rotunda rent for $2.33 per sq.ft. Newly constructed homes in this market sell for a median $220 per sq.ft.

This is an excellent time get projects in your pipeline. Banks are eager to make loans, contractors are hungry for work, and by the time this project is delivered, our economy is expected to be better.

Offering: $150,000 per lot. $60.48/sq.ft.

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