What is Great About This Group of 5 Subsidized Rentals in Baltimore City/County:
Purchasing these 5 subsidized rentals in Baltimore City/County give an investor the opportunity to achieve scale in one purchase. Collect steady, guaranteed monthly rent from program tenants.
The Details of this Rental Portfolio:
The properties are recently renovated, 4 out 5 are lead free limited, and have similar finishes throughout the buildings, making them cost efficient to maintain. Mostly all laminate floors throughout living spaces and all kitchens and bathrooms have ceramic tile floors. Kitchens feature 30″ ranges, mostly gas, with laminate countertops and real wood cabinets. Bathrooms have cast iron tubs with ceramic tile tub-surround and modern vanities. Unfinished basements provide ample storage room for tenants. All of the homes have covered front porches and nice yards.
Tenants are responsible to pay they own gas and electric bill and reimburse the owner for the monthly water bill. 100-amp electrical service to each home. 40-gallon water heaters and mostly gas-fired forced air furnaces, with central air, serve each home. 3 clothes washers and 3 clothes dryers convey; 2 of the homes have laundry that is tenant owned. Mostly all observable water supply lines and drain lines have been upgraded to c-pvc and pvc.
Where Are These Rentals?
2 properties are in Dundalk, Baltimore County. The Dundalk Renaissance Group states that Dundalk is made up of 24 neighborhoods all with a small town feel and greater Baltimore access. Tenants that live in the Mill Hill and Allendale neighborhoods have access to retail and restaurants along busy thoroughfares like Route 1, US-40 and Hilton Parkway. Woodbourne is right off of York Road, near the City/County line, so tenants can easily get downtown or to points north. Mid-Gvans has a Walk Score of 85/100 and tenants can enjoy the Govanstowne Farmers Market when in season.
$530,000 $92 Per Sq. Ft. 6.4 Times Actual Rent (GRM) 8.70 Cap Rate 13.2% Projected Cash-on-Cash Return
Are you ready to add scale to your portfolio? Or get started with program tenants? If yes, make sure you check out 3401 Mondawmin Avenue, another rental townhome actively on market. Call Will @ 410-916-3331 or Cheryl @ 410-688-1348 to learn more about this offering and others to come.
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”.