What makes this mixed use investment property special?
A prime opportunity to own a recently renovated, well maintained, fully leased 4 unit mixed use investment property in a great location. The property sits one block from the rejunvenated Hollins Market, 3 blocks from the rapidly expanding UMB BioPark and a short walk to University of Maryland’s 5 graduate schools. The property offers an 18.5% cash on cash return on investment!
The property makeup is one retail unit, one 1 bedroom, 1 bath apartment and two 2 bedroom, 1 bath apartments. The large open retail space is occupied by a long tenured hair stylist business. The space is accented by exposed brick and hardwood floors. The one bedroom apartment has a metal spiral staircase conecting three levels: a bedroom and bath on the second floor, kitchen/ living space on first floor and additional living space on the basement level. The second and third floors of the property each have a self contained 900 sq. ft., 2 bedroom, 1 bathroom apartment. The spacious, recently rehabbed apartments have full kitchens with bright adjacent living space. The kitchens have 30 ” electric ranges, refrigerators, disposals, granite countertops and wooden cabinets. The bathrooms have large modern vanities, ceramic tile floors and tubs with ceramic surround. The apartments are enhanced with abundant natural light and bright wood floors. Both apartments have in unit stacked washer/dryer.
Who pays what utilities?
The physical plant of 1101 W Baltimore is in great shape. The property uses all electric for utilities. All units are seperately metered with 100 amp electric panels in each unit making it easy for tenants to pay their own utilities. Each unit has its own electric heat pump and central air conditioning. Three of the heat pumps and A/C units were replaced within the last 2 years giving the investor low maitanance costs going forward. All units have their own 40 gallon electric hot water heater. All door locks are keypad making tenant turn over a breeze. The property has a 2″ copper water main coming in from the street. The current landlord pays for water which could be billed back to the tenants to increase investor returns. The windows in this corner building are all vinyl replacement.
The location of 1101 W. Baltimore is great. The location garners a Walk Score of 91, a walkers paradise, daily errands do not require a car. Located on the corner of well-light tree lined street with a Charm City Circulator (orange) stop directly in front of building. 1 block from the Hollins Market, 3 blocks from BioPark/UMB/UMMC/V.A hospital, walking distance to University of Maryland’s 5 graduate schools, Inner Harbor, Camden Yards, M&T Bank Stadium, performance theaters and restaurants. 1 mile to all major highways I-95,I-295, I-83 & route 40.
Courtesy of: Ben Frederick Realty, Inc. Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 28th June, 2022 4:55 AM (UTC)