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Description

Great investment  property on quiet tree-lined street only 1/2 mile from The Rotunda and Hampden’s famous “Avenue”. Tenants enjoy quick access to I-83 and close to Baltimore’s Light Rail Woodberry Station.

Both apartments and the garage are rented, generating $2,155.00 per month. The garage rent, at $55.00/ month, is less than half the market rate. Raising this to $125.00/ month would raise income to $2,235.00 per month.

1st floor apartment is a 2 bedroom, 2 full bath, with an eat-in kitchen.  2nd floor apartment features 1 bedroom with den.  1st floor has hardwood floors, 2nd floor has brand new carpet in the bedroom, den, and entrance hall. Both apartments are fully equipped with 30-inch gas range, dishwasher, and washer/dryer. Nicely kept common fenced backyard for tenant enjoyment.

All systems renovated in 2002 with 2nd floor HVAC replaced in 2015 and water heater in 2018. Separate gas forced hot air and A/C systems for each apartment, however, there is one gas meter with each tenant paying one-half of the bill.  Each tenant pays one-half of the water bill.  This property has a solid rental history with no lost rent during the last 16 years.

INVESTMENT SUMMARY
$249,000 Investment
$124,500 per unit
$212 per sq. ft.
8.9 GRM
7.32% cap rate
8.3% cash on cash return on investment

  • Address: 1337 weldon avenue
  • City: Baltimore
  • State/county: Maryland
  • Zip/Postal Code: 21211
  • Neighborhood: Hampden
  • Country: United States

Detail

Updated on July 16, 2019 at 12:59 pm

  • Property ID: Weldon1337
  • Price: $239,000
  • Property Size: 1176 sq.ft.
  • Units: 2
  • Parking Spaces: 1
  • Parking Spaces Size: 1 car garage
  • Year Built: 1923
  • Property Type: Apartment Building - Townhouse
  • Property Status: For Sale - COMP

Contact info

Will Cannon
Will Cannon
410-916-3331

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