If you’re searching for your winter project, look no further! This 4-unit, 5,700 sq. ft. apartment building has property values and rents anchored by Johns Hopkins University Homewood Campus, just two blocks away.
Three apartments have four bedrooms, two baths, a full kitchen and a rough-in kitchen each. These are perfect for large groups of renters who pay top dollar for units this close to campus. Fourth apartment is a two-bedroom, one bath in the basement, which could be converted to a three-bedroom.
All units are in livable condition, but renovation opportunities include mordernizing kitchens, baths, flooring, and windows; re-configuring floor plan; separating HVAC & water heaters; and upgrading plumbing and electrical.
Call me to discuss the details of this opportunity!
INVESTMENT SUMMARY: $675,000 List Price $118 Price Per Sq. Ft. $440,000 Suggested Renovation 8.8 Times Projected Annual Rent (GRM) 9.0% Cap Rate 14.9% Projected cash-on-cash return on investment, after renovation
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”.