1707, Eastern Avenue, Fell's Point, Baltimore, Maryland, 21231, United States
1707 Eastern Ave offers a great opportunity to own a newly constructed 12 unit mixed use investment property in a great location. The property sits in the heart of bustling Fells Point, placing the tenants walking distance to the best the popular neighborhood has to offer – restaurants, bars, coffee shops, hotels and waterfront promenades.
The property consists of an 1,800 sq ft commercial space that has been finished to a vanilla shell, ready for a retail tenant to put their stamp on it. The remainder of the building has eleven apartments: two 2 bed, 2 bath and nine 1 bed, 1 bath units spread over three floors. There are five unique design layouts among the apartments. The self contained apartments feature kitchens with a full compliment of stainless steel appliances: 30′ ranges, built in microwaves, refrigerators, dishwashers, disposals, granite counter tops and white wooden cabinets. The kitchens vary in design, some with large islands, some galley style all with ample counter space. Bathrooms have 48″ single sink vanities with quartz counter tops and roomy stall showers. All apartments have full sized stacked washer / dryers. Combining all this with abundant natural light and ten foot high ceilings makes these brand new apartments easy to rent and maintain.
The property is an electric building with separate electric meters for all apartments, public service and the commercial space. There are 1400 amps coming in to the property, 600 amps for the apartments, 400 amps for public service and 400 amps for the commercial space. Each apartment has its own 150 amp breaker panel within the unit. There is one gas meter in the building to cover the possibility of the commercial space becoming a restaurant. The tenants pay their own electric bill. The landlord currently pays for water, which could be billed back to the tenants to increase investment returns. Each apartment has its own heat pump with central air conditioning and 30 gallon hot water tank. The large, dry, open basement could easily be used for storage units for apartments adding to their attractiveness or additional revenue. The basement has been fully water proofed. The next owner of this quality new construction property can look forward to low maintenance costs for years to come.
The location of 1707 Eastern Ave is one of the highlights of the property. The property has a Walk Score of 99 out of 100! A true walkers paradise, located right in the heart of one of Baltimore’s most popular and vibrant neighborhoods. Residents enjoy a short five minute walk to the Pendry Hotel in the heart of Fells Point or strolling along the water front. Restaurants, bars, coffee shops and great shopping are all a short walk away.
$3,000,000 $250,000 per unit $225 per square foot
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”.
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