Description
Clean, updated, bright, spacious well-maintained 4-unit apartment property on a 3/4 acre lot next to a 16-acre Baltimore County Park.
Built in 1928, all kitchens and baths have been modernized and updated. All units have separate gas-fired heating system, separate gas-fired water heater, and a separate electric meter so that the tenants pay all utilities (except the owner pays water). 2 apartments have high-quality wall-to-wall carpet in living areas, one has vinyl plank flooring that looks like wood, and the top floor apartment D has original hardwood floors. 3 of the apartments have an in-unit full-size washer and dryer. The pitched asphalt shingle roof appears in good condition, as does the stucco exterior. Vinyl replacement windows mean low maintenance and energy costs.
The owner currently lives in Apartment B. He can stay and sign a lease through next spring or we can work to get this apartment rented as part of the sale transaction process.
The property is located on a beautiful 3/4 acre lot with a large lawn in the front and tree shaded back yard. The yard is gently sloping. 8 off-street parking spaces add convenience for your residents.
Baltimore County offers lower property taxes, better schools, and a better rent court system than Baltimore City, making a more pleasant investing experience for most housing providers.
Next door is “Unger Field”, two large ball fields next to a wooded area that has a full tot-lot/playground and picnic area. Baltimore Highlands Elementary School is 1/2 mile away, Landsdowne High School is 3/4 mile and I-95 interchange is a short 2 miles away.
This one is expected to sell quickly
INVESTMENT SUMMARY:
$349,000 Investment
$87,250 per unit
$110 per sq.ft.
107 times monthly rent (GRM)
7.4% Cap Rate
8.3% Cash-on-Cash Return on Investment
