2820 Saint Paul Street: 3 Apartments in Charles Village

Sales Transaction Summary:

Multiple offers above list price. Sold to an investor. Apartment 1 vacant at time of sale.

Marketing Write-Up:

This well-maintained 3-unit building awaits its new owner! Located around the corner from Wyman Park, and just 2 blocks from Johns Hopkins Homewood Campus!

2820 Saint Paul Street contains 3 spacious one-bedroom apartments. Constructed in 1902, this building offers historic charm in the ornate finishes of the staircase and the first floor apartment’s veneer hardwood floors. The owner has maintained the property well: upgrades include vinyl replacement windows and a new steam boiler dated 2014. Sturdy finishes like the bathrooms’ ceramic tile floors and the kitchens’ laminate counters help lower turnover and replacement costs.

This block is among the best in Charles Village! The location caters to students, researchers, and support staff at Hopkins University and nearby Union Memorial Hospital. The Johns Hopkins Shuttle Bus stops one block south, at 27th and Saint Paul, making this a desirable location for employees travelling to other Hopkins campuses too. 2820 Saint Paul Street earns a WalkScore of 90 (Walker’s Paradise!) a TransitScore of 61, and a BikeScore of 86.

2820 Saint Paul Street is a prime opportunity for an owner-occupant purchaser. The first floor is currently vacant and has been cleaned and painted for move-in. This apartment has access to the basement’s laundry facilities and extra storage space, plus use of a one-car garage in the rear. The second and third floor apartments are leased to long-term tenants. So, you can move into the first floor apartment and let the rents pay your mortgage!

Schedule a time to tour this Charles Village gem!

Investment Summary:
$400,000
$133,333 Per Unit
$128 Per Sq. Ft.
9.6 Times Market Rent (GRM)
6.60% Cap Rate
7.7% Projected Cash-on-Cash Return