871 Hollins St - Apartments FOR SALE


Baltimore, MD 21201
$374,900 USD
410-235-9500
871 Hollins St, Baltimore, MD for Sale
$374,900 USD
Apartments - FOR SALE
1/30
null | 8.72% Cap Rate

871 Hollins St
Baltimore, MD 21201


HIGHLIGHTS

  • Just 3 Blocks Away from the University of Maryland, Whose Student Body of 6,300+ Graduate Students Creates High Demand for Housing
  • Located 600' From the University of Maryland BioTech Park, Employing Over 1,000 Highly Educated Professionals Seeking Housing Nearby their Place of Em
  • Hollins Market Neighborhood is Considered One of the "Most Convenient Neighborhoods in Baltimore City" By LiveBaltimore.com, with Easy Commuting for B
  • Opportunity to Increase Rents Through Apartment Upgrades

OVERVIEW

The first-floor apartment spans two stories, with access on both the first and second floors for tenants to easily move in and out, connected on the interior with a spiral staircase. With three large bedrooms and two bathrooms, this unit is highly desirable for educated professionals seeking housing near world-renowned educational facilities. The kitchen features a 30" gas stove, laminate countertops, and wood cabinets. This unit comes with a stacked, in-unit washer and dryer for added convenience. Second and third-floor apartments have 30" electric stoves, laminate countertops, and wood cabinets. All bathrooms have steel or fiberglass tubs with fiberglass or vinyl tub surrounds and modern vanities. Utilities: The first-floor apartment has a Gibson gas-fired furnace with central air conditioning. The second and third floor apartments have electric baseboard heat, and tenants supply their own window air conditioners. A central 2021 Rheem 30-gasllon gas fired serves the building. The landlord currently pays for heating and water and sewer service; a utility bill-back service could significantly improve cash flow. All observable interior water supply lines are copper; observable drain lines are PVC. Why This 3-Unit Investment Opportunity in Hollins Market is Special: Tenants in this Hollins Market investment property enjoy living in “one of the most convenient areas of the City,” according to LiveBaltimore.com. Martin Luther King Jr Boulevard provides access to most major connections for traveling in and around the Baltimore metro area. BWI Airport and Penn Station can both be accessed within a 20 minute drive. The B&O Railroad Museum, a popular tourist destination and event venue, is 3 blocks southwest. The area’s close proximity to the BioPark and University of Maryland Graduate Schools ensures consistently high rental demand due to the ongoing expansion of educational facilities. Investment Summary: $374,500 $124,967 Per Unit $113Per Sq. Ft. 11.4 Times Actual Rents (GRM) 8.1 Times Market Rents (GRM) 8.72% Cap Rate 9.4% Projected Cash-on-Cash Return

FOR SALE DETAILS

PRICE

$374,900 USD

PRICE/SF

$113 USD /SF

# OF UNITS

3

PRICE/UNIT

$124,967

CAP RATE

8.72%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hollins Market Triplex

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-8

APN/PARCEL ID

0237-037

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.