$475,000
$500,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
6,000 SqFt
SOLD DATE : 10/11/2023
Key Details
Sold Price $475,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $79
MLS Listing ID MDBA2090878
Sold Date 10/11/23
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $4,413
Tax Year 2019
Lot Size 2,520 Sqft
Acres 0.06
Property Description
Great 6 unit building one block from Bolton Hill with a ton of upside potential. 4 out of 6 units were recently renovated. An estimated solid 8% + cap rate property. All plumbing and electrical was updated in 2008, gas fed forced air units and hot water heater were replaced in 2021. Great unit mix; (2) 2 bedrooms, (1) 1 efficiency, and (3) 1-bedroom units. With separate meters the tenants pay all their own utilities, which makes this a great income generating property for the owner. 3 of the 6 units are currently on month-to-month leases. Recently enhanced units and common areas but there still room to improve. Possibility to increase property value/income by adding laundry and/or storage areas to the basement. Walking distance to Maryland Institute College of Art (MICA), one of the country's premier art schools, with an enrollment of 3,500. Other Nearby Colleges: University of Baltimore, Johns Hopkins University, Coppin State University, Baltimore City Community College. Nearby Development Projects: Madison Park North ($120M mixed-use redevelopment), Penn Station. ($90M mixed-use redevelopment)
Being sold as is.
Location
State MD
County Baltimore City
Zoning R-7
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Flooring Ceramic Tile, Laminated, Partially Carpeted, Vinyl
Heat Source Natural Gas
Exterior
Water Access N
Roof Type Rubber
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0314130341 007
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Stacey L Friedman • Cummings & Co. Realtors
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "