919, Saint Paul Street, Mount Vernon, Baltimore, Maryland, 21202, United States
For Sale
$589,000
Property ID :
RH-30295-property
919 Saint Paul Street offers a blend of 4 unique apartments, each with its own character. In the main vestibule, a grand curved staircase and parquet hardwood floors create an impressive entrance. Each above-grade apartment is plus-sized and spans 1,406 square feet. Apartment 1 has two decorative fireplaces and picture molding throughout each room. The modernized kitchen offers all conveniences with a dishwasher, garbage disposal, easy-to-maintain laminate cabinets, and a 30″ gas range. Apartment 2 also combines historic charm with modern amenities. The kitchen includes butcher block counters, wood cabinets, a 30” electric range, dishwasher, disposal, and a built-in microwave. Apartment 3 features built-in cabinetry and one fireplace. The kitchen is equipped with butcher block counters, wood cabinets, an electric cooktop, double wall oven, dishwasher, and disposal.A newly renovated studio, accessible from the rear terrace, features walk-out access and a private patio. Fresh laminate flooring throughout, along with modern wood-shaker kitchen cabinets and new appliances, will attract tenants quickly.
All apartments have hardwood flooring, with some carpeting in the bedrooms. Apartments 1, 2, and 3 have ceramic tile flooring in the bathrooms and tubs with ceramic tile surrounds. The studio apartment includes a shower stall with a ceramic surround. Kitchens are equipped with ceramic flooring for durability. Shared, free laundry is located in the common area of the basement, which also has both finished and unfinished storage space.
A central, gas-fired Weil McClain boiler serves the entire building with radiator distribution. Each apartment also has supplemental heating provided by in-unit heat pumps and have central air conditioning. These supplemental systems may not be in working order and are sold as-is. A gas-fired, 2019 State 73-gallon water heater serves the apartments. There are 6 electric meters and 1 gas meter. A savvy landlord could incorporate a utility bill-back into the leases and benefit from higher cash flows. Most observable water supply lines are copper; observable drain lines are PVC or steel. A gravel parking pad in the rear comfortably fits two vehicles.
919 Saint Paul Street boasts an impressive “Walk Score” of 98 out of 100. Nestled in the heart of Mount Vernon, this investment property is just a few blocks away from Baltimore Penn Station. This Amtrak hub is undergoing major redevelopment, ensuring it remains a significant economic driver for the neighborhood’s continued growth and prosperity. Tenants will enjoy the vibrant cultural scene just minutes from their doorstep, with captivating performances at renowned venues such as The Lyric, Center Stage, and The Meyerhoff Symphony Hall. The area also offers an array of high-end restaurants, enriching museums, and prestigious universities, including the expanding University of Baltimore and the Maryland Institute College of Art (MICA).
$589,000
$147,250 Per Unit
$140 Per Sq. Ft.
8.3 Times Market Rents (GRM)
8.35% Cap Rate
8.2% 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”.
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