What is Great About These 9 Subsidized Rentals in Baltimore City?
100% occupied with program tenants on monthly leases, with programs paying 95% of the monthly rent. This portfolio is perfect for those looking for steady income and high demand for low-income housing in Baltimore.
The Details About These 9 Rentals:
6 of the properties are within the 21218 zip, and finishes throughout the buildings are similar, making this portfolio easy to manage and maintain. Living areas have laminate floors and kitchens and baths have ceramic tile floors. Kitchens feature 30″ ranges, real wood cabinets and laminate countertops. All houses have at least one bathtub/shower, with ceramic tile tub surround. Some properties 2 baths or more. Every home has a rear yard and front porch.
Who Pays What Utilities?
Tenants are responsible to establish their own accounts with Baltimore Gas & Electric and reimburse the landlord for water. There are two properties in which water and sewer chargers are paid by the landlord. Mostly gas-fired furnaces and all have central air conditioning; 40-gallon water heaters. 100amp electrical service and the landlord provides washers and dryers for all tenants.
Where Are These 9 Subsidized Rentals in Baltimore City Located?
Tenants that live in the Waverly, Pen Lucy and Coldstream-Homestead neighborhoods can enjoy the year round 32nd Street Farmers Market, being close to the YMCA, Enoch Pratt Library and 21st Century elementary and middle schools. Glenwood tenants are a minute from all the shopping and dining on York Road, which has many public transporation stops, so they can get into Baltimore County and points further south in the City quite easily. East Baltimore and Woodbourne neighborhoods have lower crime grades than other neighborhoods, according to WalkScore. Forman Mills, a popular neighborhood department store, and Food Depot are within walking distance. East Baltimore Midway is a revitalizing neighborhood in East Baltimore; residents enjoy being close to public transportation, Penn Station, Light-Rail and the Station North Arts District.
$905,000 $85 Per Sq. Ft. 6.2 Times Actual Rent (GRM) 8.73% Cap Rate 14.6% Projected Cash- on- Cash Return
Call Will Cannon: 410-916-3331 or Cheryl Sadera: 410-688-1348 to discuss your investment goals. If you find this portfolio appealing, make sure to check out our other portfolio offered for sale by clicking here.
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”.