2110, Fleet Street, Canton, Baltimore, Maryland, 21231, United States
SOLD COMP
$550,000
Property ID :
RH-22956-property
2110 Fleet St. offers a great opportunity to own a well maintained, lead free, mixed use investment property in a great location. The property straddles the border of Canton and Fells Point placing the tenants walking distance to the best that both popular neighbohoods have to offer – restuarants, bars, coffee shops, hotels and waterfront promenades.
The first floor is a huge 2,300 sq. ft. retail space called “Nude” a full service beauty and body spa. The spa has been finished to a high level. The unit includes a full bathroom with walk in shower, full kitchen and multiple rooms for all types of functions. The second and third floors of the property each contain a 1000 sq. ft., 2 bedroom, 1 bathroom apartment. The spacious, recently rehabbed apartments have full kitchens with bright adjacent living space. The kitchens have 30 ” gas ranges, refrigerators, dishwasher, disposals, laminte countertops and wooden cabinets. The bathrooms have large modern vanities, ceramic tile floors and tubs with ceramic surround. The apartments are enhanced with exposed brick walls and bright wood floors. Both apartments have in unit stacked washer/dryers. The apartments are Lead Free making tenant turnover hassle free and less expensive for the landlord.
The physical plant is in great shape! The building is seperately metered for gas and electric allowing the tenants to pay their own utilities. The landlord currently bills back water to the tenants, increasing investment returns. All units have modern, gas fired furnaces and 40 gallon gas fired hot water heaters with central air. The windows have all been replaced with vinyl replacements making for energy efficient living. The apartments both have 100 amp electric panels in unit.
The location of 2110 Fleet St. is one of the highlights of the property. The property has a Walk Score of 98 out of 100! A true walkers paradise, located right on the border of two of Baltimore’s most popular and vibrant neighborhoods. A five minute walk puts the tenant at the Pendry Hotel in the heart of Fells Point or the Baltimore Waterfront Promenade. Restaurants, bars, coffee shops and great shopping are all a short walk away.
$550,000 $183,333 per unit $127 per square foot 7.4 times market rent (GRM) 10.59% cap rate 16.9 % projected 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”.
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Suze Orman