What Makes This 2 Unit Apartment Building Special?
Located just south of the Lake Evesham neighborhood, close to Towson University, Loyola College and less than two miles to MedStar Good Samaritan Hospital. Tenants can walk to the Belvedere Square, which offers boutique shopping and artisanal food stalls, and then catch a movie at the iconic Senator Theatre.
Apartment Property Details:
One 2-bedroom, 2-bath apartment
One 1-bedroom, 1-bath apartment
This end-of-group brick rowhome has 19 windows so apartments are bright, with the addition of a large bay window in the first floor apartment. Each apartment has a offers a spacious living room and eat-in kitchen. Kitchens have a 30″ gas range, refrigerator, laminate counters and mainly wood cabinets. Hardwood floors throughout the living areas, laminate flooring in the kitchens and bedrooms have wall to wall carpeting. Each apartment has a cast iron tub with ceramic tile tub surround, ceramic tile floor and modern vanity. The first floor apartment has a cement poured shower stall in the basement along with modern vanity. A bonus club room with closets for storage and a bedroom take up the rest of the basement. Tenants enjoy a free washer and dryer. A small covered patio is in the rear along with a large, paved parking lot that could fit four cars.
The Utility Breakdown:
The apartment building is heated by a central, gas-fired Columbia hot water boiler with radiator distribution. The club room in the basement has electric baseboard heat. A central, gas-fired 40-gallon water heater supplies hot water to both apartments. The landlord does bill back the tenants for water and heating. Observable water supply lines are a mix of c-pvc and copper and observable drain lines are pvc. The main sewer drain is cast iron.
What’s Great About The Neighborhood:
Close by is Evesham Park, featuring the Belvedere Tot Lot, and Chinquapin Park offers residents 76 acres of nature, along with tennis courts, softball field, basketball court and playgrounds. In addition to being nearby colleges and a major hospital, this block of E. Belvedere is anchored by York Road and Northern Parkway. York Road is a major thoroughfare connecting Baltimore City and Baltimore County and Northern Parkway offers quick access to I-83. Popular bus routes are also nearby.
$195,000 $146 Per Sq. Ft. 17.6 Times Actual Rent (GRM) 7.9 Times Market Rent (GRM) 8.07% Cap Rate 8.9% Projected Cash-on-Cash Return
Call Cheryl to Schedule a Tour Today: 410-688-1348
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