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Description

7 massive apartments with historic features such as original wood trim, crown molding, pocket doors, and multiple marble fireplace mantels. A total renovation in the mid-1980s means all copper water pipes, 100 Amp new wiring circuit breaker electric service to each apartment, separate gas-fired heating systems with central air conditioning.  Since this is an end-building, it has ample windows providing abundant natural light to each apartment. The current owner has provided meticulous maintenance to this building, with a newish rubber roof, newer appliances, many newer kitchen cabinets, and updated baths.

The 55′ wide lot provides a side yard with privacy fence for tenant use and 7 off-street parking spaces.

Tenants pay all utilities, with separate furnaces, separate water heaters and separate gas and electric meters for each apartment.

Currently, 100% occupied, this property is 3 blocks from Maryland Institute College of Art, and 2 blocks from the State Center Metro Station and the large employment base at the State Office Building Complex making this an area with continued rental demand.

OFFERING SUMMARY:
$1,100,000
$157,143   per unit
$129  per square foot
9.3 Times current actual rent (GRM)
8.6 Times Projected Annual Rent (GRM)
8%  Cap Rate
9%  projected cash-on-cash return on investment

Property Documents

  • Address: 1321 Eutaw Place
  • City: Baltimore
  • State/county: Maryland
  • Zip/Postal Code: 21217
  • Neighborhood: Bolton Hill
  • Country: United States

Detail

Updated on March 11, 2019 at 5:42 pm

  • Price: $1,100,000
  • Units: 7
  • Parking Spaces: 7
  • Property Type: Apartment Building - Townhouse
  • Property Status: For Sale

Contact info

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