3023, Saint Paul Street, Charles Village, Baltimore, Maryland, 21218, United States
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Location, location, location! These three fully leased, turn-key apartments are one block from Johns Hopkins University Homewood Campus, and steps away from the Charles Village shopping district. 3023 Saint Paul Street is a must-have for student rental investors!
Spacious apartments, historic details, and prime location all lend to high rental rates and excellent tenants. Renters in Apartments 1 and 2 enjoy kitchens outfitted with granite countertops, wood cabinets, and stainless steel sinks. Apartment 3 has a galley kitchen with laminate countertops and cabinets, with a stainless steel sink. Dishwashers and garbage disposals in all apartments make cooking and cleaning a breeze.
Large living areas are accentuated with high ceilings and natural light from the building’s large windows. Hardwood floors, stamped plaster walls and ceilings, and original door framing all lend to 3023 Saint Paul Street’s historic charm. Apartments 1 and 2 have rear decks allowing tenants to enjoy the outdoors. An asphalt parking pad in the rear of the building provides one-car parking. The large basement has ample space for storage.
3023 Saint Paul Street is separately metered for gas and electric. The tenants also cover the public service gas, electric, and water bills, making for ideal cash-flow for the landlord.
Heat is provided via a gas-fired Bradford White hot water boiler with radiator distribution. One gas-fired Rudd water heater provides hot water. The building has 400 amp electric service, with 100 amps to each apartment and 60 amps to public service. Visible water supply lines are copper and c-pvc; visible drain lines are pvc.
Tenants make use of a shared clothes washer and dryer in the basement.
3023Saint Paul Street is just steps from the Charles Village Shopping District, and one block from Johns Hopkins University Homewood campus. This property earns the designation “Walker’s Paradise” with a WalkScore of 94, a TransitScore of 68, and a BikeScore of 86. This block is patrolled by Johns Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
$535,000 $178,333 Per Unit $179 Per Sq. Ft. 10.3 Times Actual Rents (GRM) 9.2 Times Market Rents (GRM) 8.58% Cap Rate 8.6% Projected Cash-on-Cash Return
Call Tom Fair to schedule a tour or to discuss your investment criteria: (410) 235-5200.
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