1226 North Calvert Street: Mount Vernon 5-Unit

> Low-Maintenance Property: Fully Renovated in 2014; Including All New Plumbing, HVAC and Electrical Systems

> Attract Quality, High-Income Professional Tenants with In-Unit Washers and Dryers, Modern Finishes & 11′ Ceilings

> Less than 1/2 Mile to Penn Station’s Amtrak Services for Quick Access to New York City and/or Washington D.C.

> In-Place Tax Abatement Through 2026 – Low Property Taxes

• One 3-Bedroom, 2.5-Bath Apartment
• One 2-Bedroom, 2-Bath Apartment
• One 2-Bedroom, 1.5-Bath Apartment
• One 1-Bedroom, 1-Bath Apartment
• One Studio Apartment

Mount Vernon 5-Unit Interiors:

Bright, spacious apartments, all renovated in 2014, with top-notch finishes and 11′ ceilings attract quality tenants. Four apartments feature granite counters, contemporary wood cabinetry, 30″ ranges, built-in microwaves, dishwashers, and disposals. Hardwood flooring throughout kitchens and dining areas gleams amidst the natural light, as every apartment features large windows. Bathrooms have modern pedestal sinks or vanities, steel tubs, and ceramic tile tub surrounds. The studio apartment has a two-burner electric cooktop and a shower stall with ceramic tile surround. Each unit also includes full-size washers and dryers, adding another satisfying amenity. Most bedrooms are carpeted, and bathrooms have ceramic tile flooring. Apartment 2 and Apartment 4 are two-story apartments; Apartments 1, 3 and 5 are one-story.

Multi-Family Specifics:

This Mount Vernon 5-unit building features an upgraded 2″ water main and a sprinkler system. Each unit has its own electric heat pump with central air conditioning and an electric water heater. Tenants control their own environments and pay their own utilities (including a bill-back for water and public service electric), which makes management easier, in addition to increasing cash flow. All new plumbing, electrical, and mechanical systems require less routine maintenance, and new interior water supply lines ensure no issues with water pressure. The property is pending a Limited Lead-Free Certificate renewal, meaning less paperwork and expense during turnovers.

What’s Great About 1226 N Calvert & Mount Vernon:

Save money over the next few years with a property tax abatement in place through 2026, providing annual savings of $4,768 in assessed value. Within mere minutes from their doorstep, tenants can immerse themselves in the vibrant cultural scene, enjoying captivating shows at renowned venues such as The Lyric, Center Stage, and the Meyerhoff Symphony Hall. The area also offers a delectable array of high-end restaurants, enriching museums, and prestigious universities, including the distinguished University of Baltimore School of Law and Maryland Institute College of Art (MICA). Quick access to Washington, DC, or New York City is simple, as Amtrak trains are less than half a mile away at Penn Station. Additionally, the Inner Harbor is just minutes away, and I-83 provides easy access to points north. This Mount Vernon 5-Unit is a great property for landlords and tenants alike.

Investment Summary:

$795,000
$159,000 Per Unit
$160 Per Sq. Ft.
8.1 Times Actual Rent (GRM)
9.29% Cap Rate
9.8% Projected Cash-on-Cash