Property ID : Gladstone722
For Sale $640,000.00 - Apartment Building, Garden Style
Enjoy an investment in Baltimore’s wealthiest neighborhood – its a bit of country living with all of the conveniences of city living. Yes, you can walk one block to get to Starbucks and Eddie’s Super Market. Roland Park Elementary, Gilman School, and Roland Park Country School within 3 blocks. Just off of tree-shaded and award-winning Roland Ave, I-83 is a short drive down the hill making easy access to downtown and the Towson suburbs. Loyola University and College of Notre Dame are within walking distance.
This detached frame home sits on a 50′ wide by 126′ lot; just enough to create a warm inviting space, but not too much to maintain. Trees shade this entire neighborhood. The apartments have been fixed up with new kitchens, new appliances, new ceramic tile bathrooms. Some have hardwood floors and some have wall-to-wall carpet. Each apartment has access to a porch. Each apartment has a washer-dryer in the unit.
Tenants pay all utilities except for one apartment. Each unit has either a gas-fired forced air furnace or an electric heat pump with central air conditioning. Each apartment has its own electric water heater.
Parking for 5 vehicles on the concrete parking pad in the rear.
Offered at $640,000; that is just $106,667 per unit, a 8.6% cap rate and 9.6 times gross rent. This an affordable, safe investment that is sure to grow in value year-after-year.
Click below for amazing virtual tours – it is just like being there!
Apartment #2 (2-Bedroom) (from when it was vacant)