1739, Park Avenue, Bolton Hill, Baltimore, Maryland, 21217, United States
A great opportunity to own an investment property with 3 recently renovated and well maintained apartments. Each apartment features historic character with exposed brick walls, arched windows and wood floors. Bolton Hill is a highly desirable neighborhood for both owner-occupants and investors alike. To learn more about the advantages, both short and long term, click here to visit our brief video about ‘House Hacking.’
The terrace unit and second floor apartment are split level and have exposed brick walls, wood floors and two bedrooms, each. In the terrace unit, tenants enjoy large living spaces and a cooks designer kitchen, boasting stainless steel appliances, granite counters and breakfast bar, all of which are accented by white wood cabinetry. The second floor unit is similar, with stainless appliances, wood cabinets and laminate counters. The third floor apartment is one bedroom, with exposed wood beams and vaulted ceiling, which makes for a bright, large living area and grand entry. The kitchen has a refrigerator, 30″ range, wood cabinets and laminate counters. Bathrooms throughout the investment property have steel tubs with ceramic tile tub-surrounds and modern vanities. Each unit has a stacked washer and dryer for added convenience.
The current landlord pays for water, but a savvy investor could charge this back to the tenants, increasing investment returns. An all electric property, separately metered, with 400 AMP service into the building and 100 AMP service to each unit. The terrace apartment has a mini-split system for heating and air conditioning, while the second and third floor apartments have baseboard heat and window AC units. Vinyl replacement windows throughout. Most observable water supply lines are copper; most observable drain lines are a mix of PVC and steel. Two units have a 40-gallon water and one unit has a 50 gallon water heater. The roof is rubber with an aluminum coating. Steel fire escape in the rear.
The location is one of the highlights of 1735 Park Avenue as evidenced by a Walk Score of 76 as most errands can be accomplished on foot. The light rail is a 7 minute walk away, giving you access to Downtown, Camden Yards and M&T Stadium. Penn Station is a 5 minute drive, making a commute to Washington DC or New York City a breeze, hence the excellent transit rating. Maryland Institute College of Art, or MICA for short, is the nation’s third highest rated art school and just one corner around the block. Exceptional restaurants, coffee shops and high-end shopping are nearby in neighboring Mount Vernon and points downtown.
$420,000 $140,000 per unit $152 per square foot 8.6 times market rent (GRM) 7.91% cap rate 8.4% 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”.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman