Property ID : Eutaw1410
For Sale $675,000.00 - Apartment Building, Townhouse
Grand Historic 6,000 sq.ft. Mansion turned into 7 apartments, all with separate utilities, and gated, off-street parking for 2 vehicles. 13′ ceilings on the first floor with grand marble fireplaces, crown molding, and molded plaster ornamentation. Private brick courtyard in the rear. Tree-shaded public park next door and the Eutaw Place Median Park, with historic fountains and statues, out your front door. 12′ ceilings on the second floor and 11′ ceilings on the third floor. Living areas have hardwood floors, sleeping areas have wall-to-wall carpet. All kitchens and bathrooms have been updated with ceramic tile tub surrounds, ceramic-looking vinyl tile in the kitchens, gas stoves and refrigerators in all apartments. 4 apartments have dishwashers. 5 of the 7 apartments have central air conditioning. Well maintained building with new coin-operated laundry equipment and a new rubber roof.
This property is located just 3 blocks from the State Center Metro Stop and Office Complex and 3 blocks from MICA – the third-highest rated art school in the country. Bolton Hill is the oldest and most established historic district in Baltimore City – Baltimore’s rejuvenation began in Bolton Hill in the 1970’s, helping to make this a strong, well-established, and solid neighborhood. The Mid-Town Special Benefits District covers this area providing private security and street/alley cleaning teams. MICA, the art school, has a private security patrol in this area.
Walking Score = 87
Crime Grade = B
Most buildings in this market sell for over $100,000 per unit and more than 8 times gross rent. Pick up this gem at bel0w-market pricing of only $96,000 per unit and 7.7 times gross annual rent.
$ 96,429 per unit
$ 109 per square foot
7.7 times Gross Annual Rent
7.7 Cap Rate
9.5 cash-on-cash return on investment