Located just two blocks from Johns Hopkins University, this student rental building is ready for your upgrades just in time for spring 2023 leasing. The 7-bedroom main rental house is complemented by a 2-bedroom basement apartment. Extra north-facing windows in this end-of-group building provide surplus daylight to the already extra-large bedrooms and living spaces.
The main rental house has hardwood floors and plaster walls. With one full bathroom on each floor, the building is well set up for student roommates. The first floor has a large living room, a dining room, a full bath, a rear deck, and a full rental-grade kitchen with dishwasher and 30″ gas range. Clothes washer/dryer are located in the kitchen. The second floor has three bedrooms, one full bath, and a rear deck. The third floor has four bedrooms and one full bathroom.
The basement apartment, accessed from a separate side entrance, is studded out and roughed in. The new owner can finish the build out in time for the spring rental season.
The main rental house uses a gas-fired boiler with radiator distribution. The basement has an electric heat pump with corresponding air conditioning. Vinyl replacement windows throughout. 2 electric meters with 400 amp service, and 200 amps to each apartment. One gas meter.
$247,500 Per Unit
$139 Per Sq. Ft.
7.7 Times Market Rent (GRM)
10.98% Cap Rate
15.1% Project 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”.