$595,000 Price Analysis   ♡   Baltimore, MD 21218 6 bed None bath 3,600 SqFt ($165/SqFt) 1,275SqFt lot. Built 1920 Listed 2024-04-18 | Ⓧ USDA Ineligible due to location near Baltimore |
> Located Just Three Blocks from Johns Hopkins University Homewood Campus
Apartments Are in High Demand by Young Professionals and Students > Long Term NNN Commercial Tenant Leased Through Spring 2027, Paying 20% Toward Property Taxes and Hazard Insurance, Improving Cash Flow > 3, 600 Sq. Ft. End-of-Group Rowhome, Providing Tenants With 60% More Space Than Other Homes On the Same Block > Opportunity to Improve Apartments and Greatly Increase Rents. The first-floor salon has fantastic far-corner exposure on both Maryland Avenue and 27th Street, with two large storefront windows. The salon has both hardwood and laminate flooring throughout, with high ceilings and recessed lighting. Locally owned and operated, the salon has two popular stylists offering services, with two hair drying stations and a shampoo bowl. The tenant has made warm, inviting improvements to the space. The second and third floor each house a 3-bedroo m apartment, with similar layouts to one another. Accessed by a shared entry on 27th Street, each apartment spans an entire floor. As an end-of-group row home, each apartment has 12 windows, providing lots of natural light. With a formal living/dining room and three large bedrooms, these apartments boast plenty of living space for tenants to enjoy.
Kitchens feature wood and melamine cabinets, laminate counters, 30" gas ranges, stainless steel sinks and garbage disposals. Bedrooms are generously sized and full bathrooms have modern vanities and 5 tubs. The commercial tenant is on a triple net lease (NNN) and responsible for 20% of the property taxes, owners hazard insurance policy and water/sewer bill. Each tenant pays their own gas and electric bill and each tenant controls their own heating and air conditioning. The landlord is currently paying for water for the apartments, but the leases do provide for a bill-back, which would increase cash flow. Each apartment has its own gas-fired furnace with central air conditioning. One gas-fired water heater serves the entire building, installed in 2018. Interior plumbing supply lines are a mix of copper and CPVC; interior plumbing drain lines are PVC. The partial, unfinished basement is used for storage, has an operable full bathroom and is leased for $525/month. This mixed-use 3-unit in Charles Village is located three blocks south of Johns Hopkins University Homewood campus and two blocks south of Wyman Park Dell. Tenants enjoy a quick walk to the Charles Village Shopping District and I-83 provides a quck commute to downtown Baltimore. 2653 Maryland Avenue garners a Walkers Paradise designation, with a 94 Walk Score, a 76 Transit Score and an 88 Bike Score, being located along the Maryland Avenue Cycle Track. RHouse, Remingtons trendy food hall, is home to popular stalls like BRD and Hilo Pok and Sushi and is within a 5-minute walk.
Presented by Will Cannon at
Ben Frederick Realty, Inc.
Property MLS #MDBA2122156 from BrightMLS
Heating Features: Forced Air
Heating: Yes
Lot Size Square Feet: 1275
Number of 3 Bedroom Units: 2
Map directions Map directions Map directionsSource Listing Status: Active
County: BALTIMORE CITY
Source Property Type: Multi-Family
Area: BALTIMORE CITY
Source Neighborhood: BALTIMORE CITY
Postal Code Plus 4: 4654
Township: Baltimore City
Property Subtype: Triplex
Source System Name: C2C
$595,000
BrightMLS
Year Built: 1920
Construction Materials: Brick
Property Age: 104
Structure Type: End of Row/Townhouse
House Style: Converted Dwelling
Architectural Style: End of Row/Townhouse
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.