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Description

Grand spacious first floor apartment has size and elegance worthy of an owner-occupant with its high ceilings, sculpted plaster molding, walk-in closets, and private side entrance.  The two-story 720 sq.ft. carriage house in the rear is ripe for renovation/redevelopment to further add value to this fabulous property.  The second floor offers two apartments with vintage features including large marble slabs for wall surfaces in the kitchen and bathroom, wall hung porcelain sink, and a claw foot tub.  The third floor features a huge, bright two-bedroom apartment with hardwood floors.

Property is fully leased with long-term stable tenants.

The basement has a utility room and a number of storage lockers.

Each tenant pays their own electric.  The landlord provides hot water and heat, via the modern Buderus oil-fired hot water radiator heating system.

This property has over 4,400 sq.ft. of improved living space in addition to the 720 sq.ft. rear carriage house.

INVESTMENT SUMMARY:
$395,000 investment
$98,750 per unit
$89 per sq. ft.
8.3 Times Gross Rent
8% Cap Rate
10.5% Positive Cash-on-Cash Return on Investment

Property Documents

  • Address: 2635 St Paul St
  • City: Baltimore
  • State/county: Maryland
  • Zip/Postal Code: 21218
  • Neighborhood: Charles Village
  • Country: United States

Detail

Updated on May 1, 2019 at 1:01 pm

  • Property ID: StPaul2635
  • Price: $395,000
  • Property Size: 4452 sq.ft.
  • Units: 4
  • Bathrooms: 4
  • Parking Spaces: 1
  • Year Built: 1915
  • Property Type: Apartment Building, Apartment Building - Townhouse
  • Property Status: For Sale - Pending

Contact info

Ben Frederick, III, CCIM
Ben Frederick, III, CCIM
410-752-64004107526400
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