2729, Saint Paul Street, Charles Village, Baltimore, Maryland, 21218, United States of America
With 3 true 2-bedroom units and nearly 3,400 square feet of living space, 2729 Saint Paul offers the opportunity to own premium apartments that fetch premium rents in Charles Village.
Featuring hardwood floors, exposed brick accent walls, and large, well-lit living spaces, these apartments are a breeze to lease and will keep top-quality renters. The building has recessed lighting throughout, lots of closet space, and offers a 2-car concrete parking pad. The first and second floors are leased; the third floor is rent-ready for new tenants just in time for the hot summer rental season!
This building has newer utility systems, with 3 separate water heaters dated 2014 & 2015; and a hot water boiler installed in 2018. There is 400-amp electric service with separate electric meters for each apartment and public service. Shared laundry facilities in the basement add an extra convenience to attract and keep good renters. Tenants help pay the cost of public service electric, water, and heat.
Located within walking distance of downtown Charles Village, this area is patrolled by Johns Hopkins University security, offering the building and its tenants an extra layer of safety. The Hopkins shuttle bus stops at 27th and Saint Paul, allowing an easy commute for Hopkins students, faculty, and researchers. 2729 Saint Paul has a WalkScore of 92, a TransitScore of 64, and a BikeScore of 87.
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Investment Summary: $440,000 $146,667 Per Unit $131 Per Sq. Ft. 12.7 Times Actual Rent (GRM) 8.7 Times Gross Rent (GRM) 8.06% Cap Rate 12.1% Projected Cash-on-Cash Return