902 Arion Park Rd, Baltimore, MD 21229, USA
SOLD COMP
$422,500
Property ID :
ArionPark902
Fully leased, Certified Lead-Free with all kitchens and baths recently renovated generates excellent cash flow. Solid 1963 construction with brick over block walls, wood-joisted with the original hardwood floors. Located in Southwest Baltimore, just inside the City line and across from Loudon Park Cemetery and off of Wilkens Ave.
One-Bedrooom Terrace level apartment is handicap accessible. Upper floors contain a mix of 3 Two-Bedroom apartments and 3 Three-Bedroom Apartments. No Section 8. The Terrace Level one-bedroom apartment has electric baseboard heat and window air conditioning. Each of the other apartments have their own gas-fired forced air furnace with central air conditioning and each apartment has its own gas-fired water heater, so the tenants pay all of their own utilities. All kitchens and baths have been updated within the past 3 years. Vinyl replacement windows throughout.
Property features a secure door with intercom buzzer system and a security camera system that one can view from one’s smart phone. Landlord provides free Wi-Fi to the tenants. This property is very clean and has been well maintained by the seller, including a new torch-down rubber roof. Coin Operated Washer and Dryer are owned by the landlord and convey with the property.
1 mile to I-695 (The Baltimore Beltway) and 1.5 miles University of Maryland at Baltimore County (UMBC).
Investment Summary:
$450,000
$64,286 per unit
$69 per sq.ft. of building area
$6,493 current actual monthly income
5.8 GRM (Gross Rent Multiplier)
8.2% Cap Rate
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.
Suze Orman