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Description

Solid brick townhouse along Baltimore’s Main Street.  This 3-apartment unit property is zoned C-1 commercial, though it is currently used as 3 rental apartments.

Each apartment has original hardwood floors and updated kitchens with a washer-dryer in each unit.  Each apartment has its own electric heat pump with central air conditioning and its own electric heat pump.  The building has 400-Amps of electric power with 100-Amps to each unit, all circuit breakers.

Two of the apartments have Housing Choice Voucher tenants moving in as soon as the inspections pass, with the third apartment expected to be rented soon.

The basement level is vacant and unfinished.

The location is just north of Station North Arts District and just south of Johns Hopkins University Homewood Campus, representing prospects for strong future growth.

INVESTMENT SUMMARY:
$285,000 Offering
$95,000 per unit
$120  per sq.ft.
7.9 Times Gross Annual Rent (GRM)
7.3% Cap Rate
8.3% Cash-on-cash return on investment

Property Documents

  • Address: 2211 N Charles St
  • City: Baltimore
  • Zip/Postal Code: 21218
  • Neighborhood: Old Goucher
  • Country: United States

Detail

Updated on January 14, 2019 at 8:32 pm

  • Price: $285,000
  • Bedrooms: 3
  • Bathrooms: 3
  • Garage: 2
  • Property Type: Apartment Building - Townhouse
  • Property Status: For Sale - Pending

Contact info

Ben Frederick, III, CCIM
Ben Frederick, III, CCIM
410-752-6400

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