Multiple offers above list price. This well-maintained 4-unit building was fully occupied at time of sale. Sold to an investor purchaser.
This meticulously maintained apartment building is now available for sale! 2907 Saint Paul houses 1 two-bedroom, two-bathroom unit, 2 one-bedroom units, and 1 studio. Prime location one block east of Wyman Park, and two blocks from Johns Hopkins University Homewood Campus!
These apartments are in great condition, and most feature recessed lighting, hardwood floors, newer appliances and amenities, and various updates to bathrooms and kitchens. Tenants have access to coin-operated laundry in the basement. The appeal to modern tenants can help generate higher rents and lower turnover than other units in the area!
Utility upgrades include interior copper plumbing, and 400 amp electrical service installed in 2017. Each unit is separately metered for gas and electric. The apartments have separate hot water heaters, and share one hot water boiler for heat, dated 2016. The 90-lb mineral felt roof was also replaced in 2016.
2907 Saint Paul St. is in the “hot zone” for Hopkins students, just one block from Wyman Park Dell, and easy walking distance to the University. Tenants also enjoy the amenities in the Charles Village Shopping District, like Starbucks, Chipotle, and various other shops and eateries. 2907 Saint Paul St. has a WalkScore of 93, earning the designation “Walker’s Paradise!”
A savvy landlord could make further upgrades to unit 2F for an even better cash flow!
Schedule an appointment to tour this building today!
$132,550 Per Unit
$175 Per Sq. Ft.
11.3 Times Actual Rent (GRM)
9.6 Times Market Rent (GRM)
7.08% Cap Rate
10.1% Projected Cash-on-Cash Return
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”.