1632 South Charles Street: 2 Apartments in Federal Hill

> Well-Maintained and Modernized 2-Unit Property Offers You the Advantage of Reduced Maintenance Expenses Throughout Your Ownership, Optimizing Your Financial Investment

> Federal Hill Holds a Prominent Status as One of Baltimore City’s Most Sought-After Neighborhoods, Consistently Attracting Quality Renters

> 1632 South Charles Main Apartment Offers Spacious Room Sizes & Rooftop Deck with Awesome Views, Making This an Investment You Can Be Proud to Own

> Tenants Can Walk to M&T Bank Stadium, the Proud Home of the Baltimore Ravens, as well as Oriole Park at Camden Yards, Enhancing Their Experience of This Vibrant City Life

2-Unit Federal Hill Investment Property Details:

This 2-unit Federal Hill investment property has undergone high-quality renovations; no square footage of living space is underutilized. Apartment A is generously spacious, spanning all three above-grade levels and featuring a private rooftop deck. Tenants appreciate the hardwood floors throughout and the added convenience of a half-bathroom on the first floor. The eat-in kitchen boasts granite counters, wood cabinetry, and a stainless-steel appliance suite, including a French-door refrigerator with a bottom freezer, dishwasher, built-in microwave, and 5-burner gas range. A timeless tiled backsplash, high ceilings, and recessed lighting add a touch of elegance, which tenants value. On the second floor, bedrooms face east and west, allowing ample natural light to illuminate these large rooms. Two full bathrooms are located on this floor, one serving as an en-suite with a shower stall, while the other offers a private bath with a vinyl tub and enclosure. The third floor accommodates another bedroom and full bathroom, along with the laundry room and access to the rooftop deck.

Apartment B features a private entry along South Charles Street and similar upgraded finishes. The kitchen features granite counters, wood shaker cabinetry, a gas range, built-in microwave, dishwasher, and disposal. The bedroom is situated in the rear, with walk-out access to the private, fenced-in yard.

Utilities and systems are fully separated, with each tenant paying for their own gas, electric and hot water. The landlord currently pays for cold water and sewer. Each apartment has its own gas-fired furnace with central air conditioning, in addition to electric water heaters, both replaced in 2021. All interior water supply lines have been upgraded to C-PVC and observable interior drain lines are PVC.

What’s Special About Federal Hill:

Residents appreciate the location, sense of community, vibrant city lifestyle and ease of transit that Federal Hill offers.

• SoBo (South Baltimore) is known for attracting young professionals with ample disposable income. Further away from universities, SoBo is home to national and international businesses that occupy skyscrapers and decorate their names on them. Many Federal hill residents are employed by these Forbes 500 companies.
• Recently, the community rallied to support a newly opened bakery, Zoes Just Dezzerts: Baltimore City’s first neuro-divergent place of employment. Federal Hill has a strong community association, sponsoring tree planting, seasonal clean-ups, music festivals and more. “I Love SoBo Day” is sponsored by the association and takes place this April 27th, 2024.
• SoBo is home to many of Baltimore’s best bars and restaurants, which appeal to this demographic of renters. Limoncello, voted one of Baltimore’s Best Restaurants for 2023, is a short 5-minute drive into Locust Point. Don’t want to drive? A short ten-minute walk gets tenants to the “Fed Hill” block of bars, with legendary bars like Mother’s and Ropewalk Tavern still going strong.
• Commuters have quick access to I-95, for points north and south; 695 for points east and west, and I-295 for a straight shot to Washington DC. Light Rail connections are located at both stadiums, and BWI airport is less than 20 minutes away.

Call Will Cannon to schedule your tour today. 410-235-9500

Investment Summary:

$475,000
$237,500 Per Unit
$264 Per Sq. Ft.
10.4 Times Actual Rents (GRM)
9.5 Times Market Rents (GRM)
7.68% Cap Rate
6.1% Projected Cash-on-Cash Return