This is your chance to get a multi-family home in the center of the action in popular Highland town. Located on a block of Bank Street with architecturally significant homes, including this building. Beautiful late 19th and early 20th century styles outshine other blocks with typical Baltimore style town homes. The layout of the 3 apartments is perfect for the owner occupant who wants to live in a home with the other two units providing income to pay for you mortgage and expenses. Otherwise purchase the property as an investment and hedge against inflation and enjoy immediate cash flow. The property is priced at an 8% cap rate with the current cash flow. The current price is below market value. Cap rates for multifamily properties in Baltimore are currently averaging 6.1 %. The apartments are all leased at WELL BELOW current market rents. Increase rents to market rates and watch your value skyrocket. Possibility of a cash-out refinance after increasing lease rates could garner you enough capital to purchase another property as you expand your real estate portfolio. The apartments consist of a two level, 1 Bedroom unit, an additional 1-BR unit on the 2nd floor and a large efficiency on the 3rd floor. The property has been completely updated throughout and is largely maintenance free. Expenses are low.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
