• DCIM100MEDIADJI_0051.JPG
  • 01 405 Church St
  • DCIM100MEDIADJI_0055.JPG
  • 03 Street Scene
  • DCIM100MEDIADJI_0056.JPG
  • 10 Apt 1 Living Room
  • 13 Apt 1 Kitchen
  • 15 Apt 1 Bathroom
  • 22 Apt 2 Kitchen
  • 26 Apt 2 Bathroom
  • 40 Apt 4 Hall
  • 50 Apt 5 Living Room
  • 51 Apt 5 Kitchen
  • 54 Apt 5 Bathroom
  • 61 Apt 6 Kitchen
  • 62 Apt 6 Dining Room
  • 64 Apt 6 Bedroom 1
  • 65 Apt 6 Bedroom 2
  • 80 Washer Dryer in the building
  • 85 Old Termite Damage REpaired
  • 90 2 50-gallon water heaters dated 2007
  • 94 Gas Meter
  • 95 Electric Meters
  • 96 Oil Tank
  • 97 Copper Water Main
  • 98 Trash Cans-County Pick Up
  • Apt 6 bathroom
  • DCIM100MEDIADJI_0049.JPG
  • DCIM100MEDIADJI_0048.JPG
  • DCIM100MEDIADJI_0053.JPG

Property ID : Church405

For Sale $377,000.00 - Apartment Building, Garden Style
3270 6 Units 6 Bathrooms 9 Parking Spaces  Add to Favorites Print

Solidly built in 1948 with stucco over masonry finish and a 9-car parking lot in the rear, this Certified Lead-Free property produces cash like crazy!  Fully leased.  5 one-bedroom apartments and 1 two-bedroom unit just a couple of blocks off of Route 2, Ritchie Hwy in the Brooklyn Park Shopping District.  This makes it easy for tenants to shop, catch a bus, or easily get into Baltimore City or jump onto the Baltimore Beltway.  Less than 7 miles from BWI, another generator of jobs for workers in this area.

The apartments all have updated kitchens and bathrooms.  Most apartments have wall-to-wall carpet.  Kitchens are supplied with a full size gas range and refrigerator.  All bathrooms, except one, have a full size shower/tub and modern vanity with vinyl or ceramic tile flooring.  The building is clean and very well maintained.  Roof is in good shape and there are replacement windows throughout.

Coin-operated washer and dryer provides additional source of revenue.  Anne Arundel County provides trash pick-up.

The landlord pays all utilities in this building, allowing one to charge premium rents for the neighborhood.  The building has a central oil-fired hot water radiator heating system.  Two 50-gallon gas-fired water heaters deliver domestic hot water.  200-Amps of electric power with circuit breakers is modern and up-t0-date.  The building has a copper water main and appears to have all-copper interior water pipes.  All of this delivers adds an easily maintained property to your portfolio.

The grassy yard provides outdoor space for the tenants and the 9-car asphalt-paved parking lot in the rear provides the convenience of plenty of off-street parking for the tenants.

INVESTMENT SUMMARY:
$377,000   List price
$  62,833   per unit
$        115    per sq.ft.
6.0     Gross Rent Multiplier
8.2    Cap Rate
10% Projected cash-on-cash return on investment

Property Map

Similar Properties