2516-2520 N Charles St - Apartments FOR SALE


Baltimore, MD 21218
$1,260,000 USD
410-235-9500
2516-2520 N Charles St, Baltimore, MD for Sale
$1,260,000 USD
Apartments - FOR SALE
1/92
null | 8.47% Cap Rate

2516-2520 N Charles St
Baltimore, MD 21218


HIGHLIGHTS

  • Mixed-use property in high-demand Charles Village
  • Turn-key apartments with individual HVAC systems, modern kitchens, and comfortable finishes
  • Attract quality commercial tenants at the crossroads of Baltimore’s ‘Main Street

OVERVIEW

Mixed Use Property Details: 6 One-Bedroom Apartments 1 Two-Bedroom Apartment 5 Office Suites 1 Hair Salon The apartments feature modern kitchens with a mix of granite and laminate countertops, and wood and laminate cabinets. All kitchens have electric ranges and ceramic tile floors. Bathrooms contain a mix of vinyl shower stalls and steel tubs; all bathrooms have ceramic tile floors. Living areas and bedrooms have comfortable carpeting. Individual HVAC systems for each apartment, vinyl replacement windows, and modern lighting and drywall appeal to today’s tenants. The commercial suites have been built out by the tenants to suit their needs. The first floor suites contain a mix of carpet, laminate, and vinyl tile flooring. The basements have ceramic tile floors. Each suite has a half bathroom. Who Pays Which Utilities: 2516-2520 North Charles recently underwent a complete electric overhaul, with all units now individually metered and paid directly by tenants. Apartments are self-contained, each featuring its own heat pump, central air, and water heater. Four commercial suites are heated via electric baseboards, while two suites have inactive heating systems with existing distribution (ducts/baseboards) ready for new heat pumps. Gas-fired water heaters serve four of the suites, and each building has one gas meter for commercial gas consumption. Water costs are billed back to all tenants, boosting monthly cash flow A large, 3,418 sq. ft. asphalt lot provides parking in the rear of the building. A savvy landlord would lease out these spaces to increase rental income. The landlord provides a dumpster for trash removal and pays a service to clean common hallways. What’s Great About Charles Village: 25th Street is a bustling commercial thoroughfare in North Central Baltimore, home to many small businesses and national retailers alike. Apartment tenants enjoy the close proximity to many retail shops and grocery stores. Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art are all close by. Charles Village’s location in central Baltimore makes for an easy commute downtown or to the county via I-83. 2516 – 2520 North Charles Street garners a WalkScore of 96, a TransitScore of 80, and a BikeScore of 85.

FOR SALE DETAILS

PRICE

$1,260,000 USD

PRICE/SF

$155 USD /SF

# OF UNITS

7

PRICE/UNIT

$180,000

CAP RATE

8.47%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1933

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

O-R-2

APN/PARCEL ID

12-03-3636-009

ASK ABOUT THIS PROPERTY

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

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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.