3002 Saint Paul Street: 100% Leased – 100% Location next to Johns Hopkins Univ

3002 Saint Paul Street:  100% Leased – 100% Location next to Johns Hopkins Univ

3002 Saint Paul Street: 100% Leased – 100% Location next to Johns Hopkins Univ

3002 St Paul St, Baltimore, MD 21218, USA

SOLD COMP

$550,000

Property ID :

 StPaul3002

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Units
6
Bathrooms
6
Garage
2
Sq Ft.
3807

Description

Handsome, very well maintained 6-unit apartment building with nice, spacious, bright apartments.  Kitchens and bathrooms have been updated and modernized.  The 4 rear apartments each have a deck or patio overlooking a tree-shaded back yard, which also has a two-car parking pad.   Building has free washer-dryer for tenant use in the basement.

Central gas-fired hot water baseboard heating system.  Each apartment has its own circulator pump, so each tenant controls their own heat and it is possible to install separate boilers and have each tenant pay their own heat bill.  Central water heater.   Copper and cvpvc water pipes.   Modified Bitumen roof is in good condition.

This is an attractive multi-unit apartment building that is easy to manage and rent.  This property is located in one of the best apartment rental markets in all of Baltimore, just around the corner from Johns Hopkins University and Baltimore Museum of Art.  The Charles Village shopping district is in the next block.

INVESTMENT SUMMARY:

$595,000   Investment
$99,167    per unit
$156    per square foot
9.5    GRM
6.3% Cap Rate
5%   Cash Flow ROI

 

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