Property ID : StPaul2429
For Sale $375,000.00 - Apartment Building, Mixed Use, Townhouse
Updated and renovated 4-Unit in the heart of the Old Goucher Historic District. This up-and-coming neighborhood is just above the Station North Arts & Entertainment District and just south of Charles Village.
First floor store/office has 640 sq.ft. of floor space plus a loft and large basement storage/back room. First floor rear one-bedroom apartment. 2-Bedroom apartment on the second floor has a rear porch. 3rd floor has a large living room and 2 small bedrooms.
Each apartment has its own gas-fired forced air heating system with central air conditioning and its own electric water heater. 400 Amps of power supply this building with 100 Amp circuit breaker disconnects for each unit. All water pipes have been replaced with copper and/or CVPVC plastic. Vinyl replacement windows throughout.
Kitchens feature modern wood cabinets with laminate counters and ceramic tile floors. Each apartment is equipped with a gas stove and refrigerator. The second floor apartment has a dishwasher. Bathrooms have been renovated with ceramic tile flooring, ceramic tile tub surrounds, steel tub and modern vanity in each apartment.
Living areas feature wall-to-wall carpet and some accent exposed brick walls. The building is Certified Lead-Free Limited per MDE Standards.
All apartments are rented at market rates to stable tenants. The store is rented to a relative of the owner who can stay in the space, or can be moved out if you want to open your own business in this location.
The area is served by the Charles Village Special Benefits District which provide teams to keep the alleys and sidewalks clean in addition to their own private security team.
Safeway Grocery Store is across the street, as is Subway Sandwich Shop, with PNC Bank and CVS Pharmacy around the corner.
$375,000 purchase price
$93,750 per unit
$136 per sq.ft.
8.0 Cap Rate
9.4% Cash-on-Cash Return on Investment