1226 St Paul St, Baltimore, MD 21202, USA
SOLD COMP
$835,000
Property ID :
StPaul1226
Fantastic opportunity to own a fully-leased top quality gut-rehabbed apartment building that is just one block from Penn Station and University of Baltimore in the heart of Mount Vernon; one of Baltimore’s Best Historic Districts. This building was totally rehabbed in 2013.
Unit Mix:
2 Studio Apartments
3 one-bedroom / two-bath apartments that could be adapted to two-bedrooms.
1 two-bedroom / two-bath
2 off-street parking spaces.
Totally rehabbed kitchens with granite counters, full stainless steel appliance package includes full-size gas stove, dishwasher, built-in microwave, disposal and refrigerator. Beautiful cherry wood cabinets and a ceramic tile floor. There is a washer-dryer inside each apartment for added convenience and supporting you obtaining the best tenants at the highest rental rates. Ceramic tile bathrooms, each of the upper floor apartments has two – one with a tub, the other with a ceramic tile shower. Hardwood floors throughout. Replacement wood double-hung windows on the front and insulated vinyl windows on the rear.
Tenants pay all of their own utilities, with a separate gas forced air furnace (terrace level apartments have electric mini-split heat pumps) with central air conditioning. Each apartment has its own electric water heater. The fire safety system includes a full sprinkler to lower your insurance costs.
Modern touches include some recessed lighting and ceiling fans. Historic features include:
Reasonably priced given the high quality of finishes at $925,000
Summary:
$875,000 Offering Price
$145,833 per unit
$167 per sq.ft.
9.7 GRM
7.8% Cap Rate
9.7% Cash-on-cash Return on Investment
SOLD: Closing January 12, 2018
$835,000 Final Sales Price
$139,167 per unit
$160 per sq.ft.
8.5 Times annual gross rent (GRM)
8.19 Cap Rate
11% cash-on-cash return on investment
Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller. Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.
Suze Orman