4101, Roland Avenue, Roland Park, Baltimore, Maryland, 21211, United States
These Baltimore City investment properties allure professional tenants as they offer off-street parking, garages, spacious floor plans, large yards and covered porches in the prestigious Roland Park neighborhood. The first floor apartments boast over 1,000 square feet of living space. Some apartments have been upgraded to feature more modern amenities and others could be easily renovated and attract higher rents.
Featuring a wrap around porch, each tenant has room to enjoy the outdoors and a yard to garden or picnic. Parking is a breeze, with a pull-through driveway, off street parking and four garages with electric door openers.
Boasting lots of windows, living spaces are bright and airy. Wood floors carry throughout all living spaces and accent the five-panel wooden doors, creating a historic charm on the interior. Five kitchens feature laminate counters, vinyl flooring, stainless steel sinks and gas ranges. 4103 Roland, Apt. 2R has a renovated kitchen, featuring wooden shaker cabinets, granite counters and ceramic tile floor. Most bathrooms have sturdy cast iron tubs and easy-to-clean laminate floors. 4103 Roland, Apt. 1 has two renovated full bathrooms on the first floor, with ceramic tile tub surround and ceramic shower stall and modern vanities.
4101 Roland, Apt. 1 has its owned stacked washer and dryer. Other tenants have easy access to free laundry in the basements of both properties.
Each apartment is separately metered for gas and electric. 400 amps come into each building, with 100 amps serving each apartment. Tenants pay for their gas and electric consumption. Each apartment has their own gas-fired, forced air furnace and central air conditioning. A 50-gallon, gas-fired water heater serves 4101 Roland and a 71-gallon gas-fired water heater serves 4103 Roland. The landlord charges the tenants for their proportionate shares of the water and sewer bill. Uncovered off-street parking is free to the tenants. The garages generate income.
This property has a Roland Park zipcode but blends the benefits of what both the Roland Park and Hampden neighborhoods offer residents. The Rotunda, featuring MOM’s Organic Market and multiple fast-casual restaurants and retail shops, is less than a half mile away. Hampden’s famous Avenue on 36th Street is just five blocks south, featuring local restaurants and trendy shops. Loyola University is a five minute walk and access to I-83 to get downtown or points north is only 1.5 miles away. While these properties are separately deeded, they are being offered as a package sale. Conventional financing is an option, with two loans, but a savvy investor could take advantage of commercial loans with lower interest rates.
$183,333 Per Unit
11.7 Times Actual Rent (GRM)
10.1 Times Market Rent (GRM)
6.32% Cap Rate
5.5% Cash-on-Cash Return
An owner-investor could could get creative with this acquisition. Check out our house-hacking “how-to” by clicking here. Call Cheryl today to discuss your investment needs or schedule a tour.
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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