• 02 1226 Saint Paul
  • 03 front step
  • 07 Foyer
  • 08 Hall
  • 10 B1 Living Sleeping
  • 11 B1 Living Kitchen
  • 13 B1 Kitchen
  • 15 B1 Bathroom
  • 16 B1 Laundry
  • 31 1st Flr Kitchen Dining
  • 33 1st Flr Bath
  • 32 1st Flr Kitchen
  • 34 1st Flr Washer-Dryer
  • 35 1st Flr Bath 2
  • 36 1st Flr Bedroom
  • 52 3rd flr Kitchen Dining
  • 51 3rd Flr Kitchen
  • 50 3rd Flr Living Room
  • 49 2nd Flr Washer Dryer
  • 48 2nd Flr Bath
  • 46 2nd Flr Electric Panel
  • 45 2nd Flr Bedroom
  • 42 2nd Flr Dining
  • 41 2nd Flr Kitchen
  • 40 2nd Flr Bedroom
  • 87 Electric Meter Stack
  • 06 Rear Parking
  • 05 Rear Building
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  • DCIM100MEDIADJI_0041.JPG

Property ID : StPaul1226

Sale Pending $875,000.00 - Apartment Building, Townhouse
5225 6 Units 10 Bathrooms 2 Parking Spaces  Add to Favorites Print

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:

  • high ceilings,
  • carved wood moldings and trim,
  • hardwood floors, and
  • marble fireplace mantels.

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

 

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