$80.86 Per Sq Foot $5,363 est/mo Sourced by Back At You

5447 Park Heights Ave,Baltimore, MD 21215

Baltimore MD, 21215

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Description

Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Don’t miss out. Contact us for more info today!

Details

MLS#MDBA2114854
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1926
Days On Site145
Listing Provided ByExecuHome Realty | Dimitrios Lynch
Buying Commision2.5% Of Gross

Features

SQ Feet12,354
ZoningC-2
Acreage0.24
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Learn More About This Property

StateMD
CountyBaltimore City
CityBaltimore
Zip Code21215
School DistrictBaltimore City Public Schools
Listing VS Median (in 21215)
Price:
$999,000
low | high
Med:
$0
On Site:
145
low | high
Med:
Sourced by Back At You
Listing Updated: July 8, 2024 at 11:42:40 AM PDT