3034 Guilford Avenue: 4 Lead-Free Limited Apartments in Charles Village

Sale Notes:

Sold to a 1031-Exchange Buyer. Turn-key property in a prime location in Charles Village.

What Makes These Apartments in Charles Village Special:

Experience the ease of turn-key, fully leased apartments in the sought-after Charles Village neighborhood. With 4 meticulously maintained one-bedroom units, this property offers an incredible opportunity for a new owner to enjoy top-market rents, low maintenance, and stable profits.

Apartment Property Details:

3034 Guilford Avenue houses 4 one-bedroom apartments. Kitchens are designed for convenience and durability, with sturdy, easy-to-clean finishes. Tenants enjoy the modern amenities of full-sized 30″ gas ranges, built-in microwaves, and stainless steel sinks complete with garbage disposals.

Bathrooms feature modern vanities and full steel bathtubs. The apartments have drywall walls and ceilings throughout, and some apartments have stylish recessed lighting. Floors are a mix of hardwood, laminate, and luxury vinyl plank.

Who Pays What Utilities:

Each apartment at 3034 Guilford Avenue is separately metered for gas and electric, giving tenants the responsibility of their own utility usage. Currently the landlord covers heat, public electric, and cold water/sewer; a savvy investor could implement a billback program to increase revenue.

The building utilizes a steam boiler for heat. Vinyl replacement windows help to keep heating costs low. Visible plumbing supply lines are copper; drain lines are pvc. Each apartment has its own separate water heater. Tenants share a stacked clothes washer/dryer in the basement. An oversized 1-car garage can provide parking or storage and may supplement rental income.

The lead-free limited status of 3034 Guilford Avenue lessens landlord liability, and significantly decreases energy spent on lead inspections.

What’s Great About Charles Village:

Guilford Avenue offers a quiet reprieve from the hustle and bustle of Charles Village, with its tree-lined, speed-reduced street. Tenants can walk to the Charles Village Shopping District, Johns Hopkins University Homewood Campus and Wyman Park. 3034 Guilford Ave earns the designation “Walker’s Paradise” with a WalkScore of 94, a TransitScore of 68, and a BikeScore of 85. This block is patrolled by Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.

Investment Summary:

$595,000
$148,750 Per Unit
$274 Per Sq. Ft.
10.9 Times Actual Rents (GRM)
8.6 Times Market Rents (GRM)
8.15% Cap Rate
8.2% Projected Cash-on-Cash Return