$400,000
$395,000
1.3%For more information regarding the value of a property, please contact us for a free consultation.
2522 N CALVERT ST Baltimore, MD 21218
2,553 SqFt
Key Details
Sold Price $400,000
Property Type Multi-Family
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 2,553 sqft
Price per Sqft $156
Subdivision Charles Village
MLS Listing ID MDBA2048756
Sold Date 08/12/22
Style Traditional
Abv Grd Liv Area 2,553
Originating Board BRIGHT
Year Built 1910
Annual Tax Amount $4,851
Tax Year 2022
Lot Size 1,845 Sqft
Acres 0.04
Lot Dimensions 15' x 123'
Property Description
These well-maintained apartments provide the opportunity for investors or owner-occupants looking for a healthy cash-flow in the stable Charles Village neighborhood. Purchase these turn-key apartments to appreciate favorable returns for years to come.
Each apartment encompasses a full floor of this three-story building. Attractive hardwood floors run throughout the units. The original staircase railings and first floors French doors are beautifully preserved.
Kitchens and bathrooms are updated: two kitchens feature granite countertops; cabinets are a mix of wood and laminate; and all units have contemporary stainless steel sinks. Modernized bathrooms have ceramic tile floors; two have shower stalls with ceramic tile enclosures and one has a historic claw-foot tub.
Tenants enjoy the sunny living areas these apartments offer. A brick patio in the rear grants outdoor leisure space. Shared laundry facilities are available in the basement.
Each apartment is separately metered for electric, so each tenant pays for their electricity usage. The first floor meter includes the public service. There are two gas metersone for the third floor, which the tenant pays, and one for the first floor, second, floor, and public service, which the landlord pays. Water and sewer is paid by the landlord. A savvy new owner could increase cash flow by passing these expenses on to the tenants.
2522 North Calvert Street has a new gas-fired forced-air Rheem furnace, dated 2021. A 2016 71-gallon gas-fired Kenmore water heater provides hot water. Vinyl replacement windows throughout help to insulate the building. A rubber roof with elastomeric coating helps repel sunlight and keeps the building cooler in the summer. The buildings plumbing is copper and pvc, with a copper water main.
Located a short 5 blocks from Johns Hopkins University Homewood Campus, 2522 North Calvert Street is within easy walking distance of campus, Wyman Park, and the 25th Street commercial corridor. 25th Street is home to many small shops and restaurants, including Safeway and CVS. Garnering the title Walkers Paradise, 2522 North Calvert Street earns a 92 Walk Score, a 66 Transit Score, and an 86 Bike Score. This block is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
Investment Summary:
$395,000
$131,667 Per Unit
$155 Per Sq. Ft.
9.7 Times Actual Rents (GRM)
9.0 Times Market Rents (GRM)
7.84% Cap Rate
9.1% Projected Cash-on-Cash Return
Location
State MD
County Baltimore City
Zoning OR-2
Interior
Hot Water 60+ Gallon Tank, Natural Gas
Heating Forced Air
Cooling Window Unit(s)
Flooring Hardwood
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Water Access N
Roof Type Rubber
Accessibility None
Total Parking Spaces 1
Garage N
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
Structure Type Plaster Walls
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0312153832 025
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional, Exchange, FHA, VA
Listing Terms Cash, Conventional, Exchange, FHA, VA
Financing Cash,Conventional,Exchange,FHA,VA
Special Listing Condition Standard
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Bought with Kenneth Fulton II • Keller Williams Select Realtors
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