What Makes this 2-Unit Investment Property Special?
2802 Berwick Avenue is a detached apartment building in North East Baltimore City, located just north of Hamilton and south of Parkville. Situated on a quiet one-way, tree-lined street, tenants enjoy peaceful living while still just minutes from the bustling activity along the north east corridor of Belair and Harford Roads. Well-kept and easy to maintain, this investment property offers cash flow as-is.
Apartment Building Details:
One 3-Bedroom, 1 Bath Apartment
One 2-Bedroom, 1 Bath Apartment
Kitchens feature 30″ gas ranges, wood cabinets and laminate countertops. Bathrooms have steel tubs with vinyl enclosures and modern vanities. Living areas are carpeted, with vinyl tile floors in kitchens and vinyl plank flooring in baths. The first floor apartment connects to the basement, which is a legal, third bedroom or an additional living space. First floor tenants enjoy bonus storage space in the unfinished basement. A full bath has been roughed-in in the basement and could be completed to increase rent. Amenities for both tenants include in-unit washers and dryers, as well as a manicured back yard with pergola and firepit.
Who Pays Which Utilities:
What’s Great About This Apartment Building in North East Baltimore City?
Local neighborhood associations, such as Arcadia, Lauraville, Hamilton Hills and North Harford Road Community are working consistently and collaboratively to continue improving the north east corridor of Baltimore City. The local K-8 school that serves 2802 Berwick exceeds federal and state expectations for yearly progress with more than 75 percent of students earning proficient or advanced on both the reading and math sections of the MD State Assessment. Hamilton Elementary/Middle is known for the top ranking student bands in the City. Two major grocers are located within 1.5 miles. Local dining and shopping options abound and the property is moments to I-695.
Call Cheryl Sadera at 410.235.9600 to schedule a tour or to discuss your investment objectives.
$349,000 $174,500 per unit $194 per sq. ft. 8.7 times market rent (GRM) 8.83% Cap Rate 9.5% Cash-on-Cash Return
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”.