Property ID : ArionPark902
Sold Comp $422,500.00 - Apartment Building, Garden Style
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).
$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