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2414 Saint Paul Street

BALTIMORE, MD 21218
  • $525,000
  • STATUS: Active
  • ON SITE: 76 Days
  • ID#: MDBA2061372
UPDATED: 162 min ago
$525,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Diversify your rental portfolio under one roof with this mixed use Charles Village building. Housing four apartments and one retail suite, 2414 Saint Paul Street is 100% leased and provides instant cash flow, in one of Baltimore+GGs premier real estate investment markets.Unit Mix:3 Efficiency Apartments1 One-Bedroom Apartment1 Retail Clothing Store2414 Saint Paul Street has first-floor retail on the street level, two apartments on the second floor, and two apartments on the third floor.Apartment kitchens feature sturdy, easy-to-clean construction with a mix of wood and laminate cabinets, laminate countertops, and ceramic tile floors. Bathrooms have modern vanities and full-sized tubs. Living areas contain a mix of laminate, ceramic tile, and hardwood flooring. With compact apartments and easy-to-maintain finishes, tenant turnovers will be a breeze. The Charles Village neighborhood provides a steady supply of quality tenants.The commercial space is leased to a clothing store, with a 3 year term and 3 year renewal option. This building+GGs C-1 zoning allows a myriad of business uses including retail, office, or medical. With no walk-up stairs and high street visibility, 2414 Saint Paul Street+GGs commercial element provides a desirable location for businesses.2414 Saint Paul Street has 5 gas meters and 6 electric meters. Currently the commercial tenant and one apartment tenant pay their own utilities; the rest have their utilities included in the rent. A savvy landlord might pass these costs along to the tenants to increase cash flow.This mixed-use building+GGs apartments have electric baseboard heat; the commercial suite has a gas-fired forced air furnace with corresponding air conditioning. Each unit has its own water heater. The building has vinyl replacement windows, and a rubber roof with elastomeric coating.Just around the corner from 2414 Saint Paul Street is 25th Street, a bustling commercial corridor. This neighborhood is home to many mom-and-pop shops as well as office suites, restaurants, and retail storefronts. 2414 Saint Paul Street has a WalkScore of 94, earning the designation +G+Walker+GGs Paradise+G-; a TransitScore of 70, and a BikeScore of 89. This location in central Baltimore is just short drive from downtown, and I-83 provides quick access to the City+GGs highway systems. The neighborhood is served by the Charles Village Benefits District+GGthis nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.$525,000$105,000 Per Unit$206 Per Sq. Ft.10.5 Times Actual Rents (GRM)9.2 Times Market Rents (GRM)7.70% Cap Rate6.8% Projected Cash-on-Cash Return

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-06T23:50:18.16.
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2414 Saint Paul Street BALTIMORE, MD 21218

  • Price: $525,000
  • Status: Active
  • On Site: 76 Days
  • Updated: 162 min ago
  • ID#: MDBA2061372
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1900
Built
Neighborhood:
Charles Village
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
Diversify your rental portfolio under one roof with this mixed use Charles Village building. Housing four apartments and one retail suite, 2414 Saint Paul Street is 100% leased and provides instant cash flow, in one of Baltimore+GGs premier real estate investment markets.Unit Mix:3 Efficiency Apartments1 One-Bedroom Apartment1 Retail Clothing Store2414 Saint Paul Street has first-floor retail on the street level, two apartments on the second floor, and two apartments on the third floor.Apartment kitchens feature sturdy, easy-to-clean construction with a mix of wood and laminate cabinets, laminate countertops, and ceramic tile floors. Bathrooms have modern vanities and full-sized tubs. Living areas contain a mix of laminate, ceramic tile, and hardwood flooring. With compact apartments and easy-to-maintain finishes, tenant turnovers will be a breeze. The Charles Village neighborhood provides a steady supply of quality tenants.The commercial space is leased to a clothing store, with a 3 year term and 3 year renewal option. This building+GGs C-1 zoning allows a myriad of business uses including retail, office, or medical. With no walk-up stairs and high street visibility, 2414 Saint Paul Street+GGs commercial element provides a desirable location for businesses.2414 Saint Paul Street has 5 gas meters and 6 electric meters. Currently the commercial tenant and one apartment tenant pay their own utilities; the rest have their utilities included in the rent. A savvy landlord might pass these costs along to the tenants to increase cash flow.This mixed-use building+GGs apartments have electric baseboard heat; the commercial suite has a gas-fired forced air furnace with corresponding air conditioning. Each unit has its own water heater. The building has vinyl replacement windows, and a rubber roof with elastomeric coating.Just around the corner from 2414 Saint Paul Street is 25th Street, a bustling commercial corridor. This neighborhood is home to many mom-and-pop shops as well as office suites, restaurants, and retail storefronts. 2414 Saint Paul Street has a WalkScore of 94, earning the designation +G+Walker+GGs Paradise+G-; a TransitScore of 70, and a BikeScore of 89. This location in central Baltimore is just short drive from downtown, and I-83 provides quick access to the City+GGs highway systems. The neighborhood is served by the Charles Village Benefits District+GGthis nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.$525,000$105,000 Per Unit$206 Per Sq. Ft.10.5 Times Actual Rents (GRM)9.2 Times Market Rents (GRM)7.70% Cap Rate6.8% Projected Cash-on-Cash Return
Exterior Features

Construction Materials Brick Garage YN No Parking Types Parking Lot Property Condition Very Good Riparian Rights YN No Roof Rubber Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3476.00 Cooling Central A/C Exclusions Tenants' Possessions Heating Baseboard - ElectricForced Air Heating YN Yes Net Square Feet 2544.00

Property Features

Acceptable Financing CashExchangePrivate Accessibility Features None Assessment Year 2022 Business Type Apartment BuildingOther/General Retail Central Air YN Yes Cooling Fuel Electric Electric 200+ Amp Service Ground Rent Payment Frequency Annually Heating Fuel Natural GasElectric Historic YN No Hot Water Multi-Tank Lease Considered YN No Municipality Baltimore City Navigable Water YN N Net Operating Income 40405.00 New Construction YN No Number Of Units Total 5 Original MLSNumber 801898060162 Ownership Interest Fee Simple Possession ImmediateSubject To Existing Lease Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 7746.00 Tax Assessment Amount 328200.00 Tax Lot 017 Vacation Rental YN No Water Source Public Zoning C-1 Zoning Description Community Commercial; Licensed For 4 Dwelling Units

Listing courtesy of Ben Frederick Realty, Inc.: .


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-06T23:50:18.16.
 
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