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  • 03 6049 Falls Rd
  • 07 Street Scene
  • 08 Rear Paking PAd
  • 09 Rear Yard
  • 10 Office
  • 11 Office front room
  • 12 Office Middle Area
  • 14 Office Kitchen
  • 15 Office Kitchen
  • 16 Office Bathroom
  • 20 1st Flr Apt Front Room
  • 22 1st Flr Apt Middle Room
  • 23 1st Flr Apt Kitchen
  • 24 1st Flr Kitchen
  • 27 1st Flr Apt Bathroom
  • 28 1st Flr Bathroom
  • 30 Second floor deck
  • 31 2nd Flr Living Room
  • 32 2nd Flr Dining Kitchen
  • 33 2nd Flr Kitchen
  • 34 2nd Flr Kitchen
  • 35 2nd Flr Bedroom 1
  • 36 2nd Flr Bedroom 2
  • 37 2nd Flr Bath
  • 70 Electric Meter
  • 92 Gas Meters north
  • 89 Gas Boiler and Water Heater
  • 91 Water Heaters
  • 90 New Gas Boilers

Property ID : Falls6049

Sold Comp $295,000.00 - Apartment Building, Commercial, Mixed Use, Office
2390 3 Units 3 Bathrooms 4 Parking Spaces  Add to Favorites Print

Opportunity to own a high visibility office-apartment building on Falls Road, just south of Lake Avenue.  Baltimore County locations offers lower property tax rates.  11,200 vehicle per day exposure.

All units are currently vacant, offering you the opportunity to create a space for your business, for your living, create a live-work environment, or attain great cash flow from a pure-investment vehicle in a high-demand rental market.  The Seller is willing to hold a first mortgage to a financially responsible and qualified purchaser with 20% down, a 5% interest rate amortized over 30 years with a 5-year balloon.

The apartments are spacious with plenty of windows and natural light and high ceilings.  There is a two-bedroom apartment on the second floor and a one-bedroom apartment on the first floor, south-side.  The office space is on the north side of the first floor.

The building has updated electric service, copper plumbing, and a separate heating system and water heater for each apartment, so that the tenants pay all of their own utilities making for excellent cash flow.

The wide lot offers excellent frontage and exposure for your signs.  4-Car off-street parking in the rear offers convenience for you, your customers and tenants.  The covered front porch offers an attractive entrance.

Bare Hills Business Center is just 1 mile up the road, a highly sought-after area that is expanding with new development.  Whole Foods and Starbucks are less than a half-mile to the south with the I-83 interchange at Northern Parkway just under a mile from this location.

INVESTMENT SUMMARY:

Investment:      $295,000
Price per Unit:  $  98,333
GRM:                            8.3
Cap Rate:                     7.9
Cash Flow ROI:          11%

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Agent Meet Ben Frederick, III, CCIM

  • Mobile : 410-752-6400
  • Fax : 410-435-5041

» President & Broker

Advises Buyers and Sellers of Multi-Family Apartment Properties…
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