2024 Saint Paul St - Apartments FOR SALE


Baltimore, MD 21218
$450,000 USD
410-235-9500
2024 Saint Paul St, Baltimore, MD for Sale
$450,000 USD
Apartments - FOR SALE
1/24
null | 9.03% Cap Rate

2024 Saint Paul St
Baltimore, MD 21218


HIGHLIGHTS

  • Multi-Family Investment in Charles North, with a 73% Renter Population, Ensuring Low Vacancy Rates
  • Entry Level Pricing at $450,000; only $112,500 per Unit
  • Turn-key Apartments with Low-Maintenance Infrastructure and Easy-to-Clean Finishes Help Maximize Returns and Minimize Repair Headaches

OVERVIEW

Turnkey Interiors: 2 One-Bedroom Apartments 1 Junior One-Bedroom Apartment 1 Studio Apartment Kitchens feature durable laminate counters and cabinets, paired with 30? electric ranges. Apartment 1R includes a built-in microwave. Bathrooms are outfitted with pedestal sinks and shower stalls with vinyl enclosures, offering practical, low-maintenance finishes. Shared laundry facilities in the basement provide additional tenant convenience. Utility Specifics: Systems and utilities for this turnkey multi-family are straightforward. Tenants manage their own electric baseboard heating and each unit features a self-contained electric water heater. Water is billed back to tenants, boosting cash flow. A bill-back for public service electric could further improve investment returns. Observable plumbing is modern PEX, which ensures durability and ease of replacement. The property is equipped with 5 electric meters, delivering 100 amps to each unit, including 100 amps to the public service. There are two gas meters; one is abandoned and one that is kept active. A new owner could terminate this gas service or keep it and install gas appliances. What is Great About Charles North? Charles North stands out as a lively sub-neighborhood celebrated for its artistic and cultural energy. Anchored by the Station North Arts and Entertainment District, the area has become a hub for creative professionals, music enthusiasts, and young urbanites. With its historic architecture, vibrant nightlife, and proximity to Penn Station, Charles North offers an attractive mix of convenience and charm. Perfectly situated in this evolving neighborhood, 2024 Saint Paul Street is positioned to capitalize on Charles North’s ongoing transformation. As Station North expands northward and Charles Village pushes south, this location represents a prime opportunity for savvy investors. With turnkey interiors and value-add potential, this property is ideal for first-time investors entering the market or experienced professionals seeking to grow their portfolio in one of Baltimore’s most promising areas.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

4

PRICE/UNIT

$112,500

CAP RATE

9.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Charles North 4 Unit

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

1

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C1

APN/PARCEL ID

3809-029

ASK ABOUT THIS PROPERTY

Tom FairBen Frederick Realty, Inc.More Info
410-235-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Tom FairBen Frederick Realty, Inc.More Info
410-235-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.