2930 St Paul St, Baltimore, MD 21218, USA
Well maintained, with some updated kitchens.
This property used to be zoned for 6 apartments. It has been used by a fraternity, who downzoned the property to 5 dwelling units so they could use the first floor front apartment as community space. The fraternity is now renting all 6 apartments, even though the property is zoned for 5. I can help get through the process to rezone the property for 6 apartments.
Two 200-Amp service cables and all circuit breaker electric provides plenty of power to this building. Central gas-fired hot water radiator heating system. Full unfinished basement has a full size washer and dryer for tenant use.
2 off-street parking spaces in the rear offer additional revenue source.
$89,000 per unit
$129 per sq.ft.
6.5 times Gross Annual Rent
9.9% Cap Rate
14% projected cash-on-cash return on investment