4008, Primrose Avenue, Glen, Baltimore, Maryland, 21215, United States
OFF MARKET
$550,000
Property ID :
RH-28193-property
Kitchens feature 30″ gas ranges, stainless steel sinks, and a mix of laminate or granite countertops. All kitchens have wood cabinetry, with a few upgraded with more modernized wood shaker cabinets. Bathrooms boast modern vanities and either shower stalls or cast-iron tubs. Most apartments feature LVP flooring throughout, with some ceramic tile in kitchens and bathrooms. Walls and ceilings are constructed of drywall.
The original building is home to 6 units, with a recently completed rear addition, bringing the total number of building units to 8. The building is licensed for 6 dwelling units.
Energy savings for tenants are created as six apartments have their own Goodman gas-fired furnace, and most windows have been upgraded to vinyl replacement windows. The owner does supply some units with portable air conditioners, while others are tenant-provided. Three apartments have in-unit, stacked washers and dryers for added convenience. A washer and dryer hook-up is located in the common area basement, allowing a new owner to increase overall attractiveness with on-site laundry facilities. All observable interior water supply pipes are C-PVC, and observable drain lines are PVC. 6 Rheem gas-fired water heaters serve the original apartments. An electric Rheem water heater serves both of the newly constructed apartments. There are 7 electric meters and 6 gas meters. The landlord pays water and sewer charges for the entire building, and the public service electric meter which also provides electric for the two new apartments. Off-street parking can accommodate 8 vehicles.
Tenants have quick access to the Metro Subway, connecting Owings Mills (Baltimore County) to downtown Baltimore City points of interest, including Lexington Market and Johns Hopkins Hospital. Major employers, Sinai Hospital and the Social Security Administration, are to the east and west, respectively. Five minutes north is Reisterstown Plaza, featuring national anchors such as Home Depot, Giant Food, and Planet Fitness, along with many other local restaurants and retail stores located along Reisterstown Road and inside the Plaza. Tenants seeking green space can enjoy spending days at the Cylburn Arboretum, a 200-acre urban park located less than 10 minutes away.
$550,000
$68,750 Per Unit.
$222 Per Sq. Ft.
8.5 Times Actual Rent (GRM)
6.0 Times Market Rent (GRM)
10.31% Cap Rate
13.2% Projected 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