906 Litchfield Road: 3 Apartments in Baltimore County.

What Makes This Investment Property Special:

Tucked into a quiet residential street in the desireable Idlewylde/Stoneliegh neighborhood, this well maintained investment property is in walking distance to shops on York Rd. including Starbucks and Pure Raw Juice Bar. The property is within 2 miles of bustling downtown Towson with shopping, dining, public library, Towson University and Towson Town Center.

Property Details Of this 3 Unit Multi Family:

• 1 large three bedroom/ one bath walkout basement apartment.The apartment was recently updated with new laminate flooring throughout, kitchen cabinets, granite counter tops, dishwasher, washer/ dryer and a fresh coat of paint.

• 1 large two bedroom/ one bath main floor apartment. This apartment has an eat in kitchen that opens to a rear deck overlooking a private backyard. There is a spacious dining room and living room that lead to a screened in porch. The apartment is complimented by a working fireplace, hardwood floors and a stacked washer dryer.

• 1 one bedroom/ one bath second floor apartment. This cozy apartment has good sized common space, an ensuite bedroom, ample storage, full kitchen and a stacked washer dryer.

Who Pays What Utilities:

All apartments are seperately metered for gas and electric allowing the tenants to easily pay their own utilities. The current landlord pays for both water and hot water which could be billed back to the tenants to increase investment returns. One gas fired 75 gallon water heater (2017) supplies hot water to all apartments. Each apartment has its own gas fired boiler supplying heat through baseboard radiators. There are vinyl replacement windows throughout.

What’s Nearby:

906 Litchfield Road is located in Baltimore County in the bucolic Idlewylde/ Stoneleigh neighborhood, a pleasant 15 minute walk to shops and resturants on York Rd. The street is quiet, family oriented with neatly kept single family homes. The city of Towson with its shopping, resturants and university is a quick 10 minute drive or 15 minute bike ride from the property. Come and enjoy the lower property taxes and water bills of Baltimore County in this well located investment property.

Investment Summary

$499,000
$166,333 per unit
$157 per square foot
9.8 times market rent (GRM)
7.73% Cap Rate
6.80% cash on cash return