$450,000 $2,416 est/mo Sourced by Back At You

3712 Parkside Dr,Baltimore, MD 21206

Baltimore MD, 21206

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Description

Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 8.57% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investmentPreapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.

Details

MLS#MDBA2121126
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1920
Days On Site64
Listing Provided ByEXP Realty, LLC | Gregory A Cullison Jr.
Buying Commision2.5% Of
Listing CommissionOf Gross

Features

SQ Feet6,466
Garage2
BasementY
ZoningR-5
Acreage0.44

Market Activity 21206

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Learn More About This Property

StateMD
CountyBaltimore City
CityBaltimore
Zip Code21206
School DistrictBaltimore City Public Schools
Elementary SchoolGardenville
Listing VS Median (in 21206)
Price:
$450,000
low | high
Med:
$225,000
100% of Average
SqFt:
6,466
low | high
Med:
1,668
100% of Average
$ / SqFt:
$70
low | high
Med:
$135
44.640939015939% of Average
On Site:
64
low | high
Med:
298.000000
21.476510067114% of Average
Sourced by Back At You
Listing Updated: May 31, 2024 at 10:27:18 PM PDT