3526 Keswick Road: 3 Apartments in Hampden

• 1/2 Block to Hampden’s Famous 36th Street, AKA “The Avenue”
• Fully Occupied – Rent As-Is, or Renovate to Increase Rents
• 1 Block West From Wyman Park Dell, a 16-acre Public Park Offering Outdoor Recreation
• Multi-Families in Hampden are Seldom Available – Act Now to Seize This Rare Opportunity

Hampden 3-Unit Interiors

3526 Keswick Road is an end-of-group townhome that offers extra windows, providing tenants with brighter living space. The kitchens feature laminate counters and mostly laminate cabinets; Apartment B has wood cabinetry. All units are equipped with stainless steel sinks and 30″ gas ranges, and Apartment 1 includes a dishwasher for added convenience. The bathrooms all have modern vanities; two apartments have steel tubs with fiberglass enclosures, while one apartment features a claw foot tub with a vinyl surround. Walls are mostly plaster with some wood paneling; Apartment B has been redone with drywall ceilings and drywall/brick walls. Living areas have hardwood floors, and the kitchens and bathrooms on the 1st and 2nd floors have ceramic or vinyl tile flooring. For durability, the basement has ceramic tile flooring throughout.

Utility Information:

This Hampden 3-Unit is heated by a central gas-fired steam boiler with radiator distribution. The basement apartment uses radiant heat. Tenants provide their own AC units for cooling. Hot water is supplied by a central gas-fired, 40-gallon water heater. The property has one electric meter and one gas meter, with the landlord covering all utility costs.

A savvy landlord could immediately improve cash flow by billing tenants each for a third of the gas, electric, and water bills. Additionally, upgrading the apartments with individual HVAC systems and cosmetic improvements would significantly increase rents to market rates. Hampden, with its limited number of 2-4 unit multi-family and low rental vacancy rates, offers a prime opportunity for investment. The potential to raise rents in one of the city’s most popular rental neighborhoods makes this building a great entry point with substantial upside for investors.

What Is Great About 3526 Keswick Road:

A large patio in the rear is utilized by the tenants and is home to a tenant-maintained vegetable garden. Located just half a block from the vibrant shops and restaurants along Hampden’s famous 36th Street, known as “The Avenue,” this property offers easy access to the neighborhood’s hustle and bustle. The Hampden Merchant’s Association works had to promote small galleries and indie stores, selling vintage clothes and quirky art, alongside retro diners and dive bars amongst trending, craft cocktail spots. As tenants focus more on outdoor amenities, the proximity to Wyman Park Dell offers a serene, green space perfect for relaxation and recreation. This beautiful park features rolling hills, walking trails, and scenic spots ideal for picnics, jogging, or simply unwinding in nature. The park’s tranquil environment provides a peaceful retreat for residents, enhancing the appeal of this Hampden 3-Unit.

Investment Summary:

• $345,000
• $115,000 Per Unit
• $230 Per Sq. Ft.
• 9.3 Times Actual Rents (GRM)
• 7.5 Times Market Rents (GRM)
• 8.47% Cap Rate
• 8.3% Projected Cash-on-Cash Return