Cash-flowing Baltimore multifamily hits the JACKPOT

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Cash-flowing Baltimore multifamily hits the JACKPOT

Wholesaler · Bowie, MD · Member since 2015 · 27 posts · 6 votes

Hi all,

Take my advice. Investors should seize this treasure-rich opportunity in Baltimore, a top-five rental market. This cash flowing 2 unit duplex is in the Brewer Hill area of Baltimore's Canton Neighborhood. Renters will be thrilled with its nearby shops and multi-colored, rooftop views of the Inner Harbor.  And investors will be overly happy with the steady cash flow. Call me now!

CASH FLOW:~$752/month ~$9,050/year + mortgage interest deduction & depreciation
REHAB: $60,000
ASKING: $285,000 OBO

Unit 1: 2beds/1.5baths
Unit 2: 1bed/1bath
Rent:
Unit 1: $1,950/month
Unit 2: $1,450/month
Separate entrances to both units
Rooftop deck with stunning views of the Inner Harbor
Kitchen & laundry both units

To acquire this property or see it in person, contact me now on BiggerPockets or use my contact information below. Pictures follow. More pictures of the exterior and interior can be found here: http://tinyurl.com/hhrlgw9. Don't wait! It could be gone tomorrow! 

V/R
Bobbie

Bobbie Mixon Jr.
Mixstreet Investment Properties
3540 Crain Highway, Suite 288
Bowie, MD 20716
(301) 200-2422 (Office - main)
(800) 973-5084 (Office)
www.facebook.com/mixstreetinvestmentproperties
www.linkedin.com/in/mixstreetinvestmentproperties"We'll pay your memories forward"

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Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
10y

@Lisa S.

It is high. Properties in Canton that need rehab go for $150-$250. This was an online auction property. If memory serves me correct it sold for somewhere around $200,000. Also important to know that it is next to a bar. I don't think it had rear parking.

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  • Baltimore, MD · Member since 2016 · 51 posts · 28 votes
    10y

    Do you have comps for the ARV? The purchase price seems a little high for a $60k rehab.

  • Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
    10y

    @Lisa S.

    It is high. Properties in Canton that need rehab go for $150-$250. This was an online auction property. If memory serves me correct it sold for somewhere around $200,000. Also important to know that it is next to a bar. I don't think it had rear parking.

  • Baltimore, MD · Member since 2016 · 51 posts · 28 votes
    10y

    @Rich Baer That's what my sense was from the area and property, thanks for sharing. Next to a bar would definitely also reduce the ARV and value in general.

  • Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
    10y

    @Lisa S.

    Glad to help. Stay in touch.

  • Wholesaler · Bowie, MD · Member since 2015 · 27 posts · 6 votes
    10y

    Thanks, @Rich Baer for providing input. Here is the ARV and comps from similar properties nearby. @Lisa S, if you're interested, I'm happy to hear your best offer. This is a killer property to add to your rental portfolio.

    ARV: $399,000

    COMPS:

    SUBJECT PROPERTY -- 3203 O'Donnell St., 4bd/2ba, 1,975 sq. ft.
    SOLD – APR 12, 2016 – 3222 O’Donnell St., $351,000, 2bd/3ba, 2,200 sq. ft., 05 miles
    SOLD – JUN 8, 2016 – 3234 O’Donnell St., $413,000, 4bd/3.5ba 1,547 sq., ft., .6 miles
    SOLD JUN 23, 2016 -- 1211 S. East Ave., $432,500 3bd/3.5ba, 2,146 sq. ft., .1 miles

  • Wilmington, NC · Member since 2016 · 39 posts · 6 votes
    10y

    grew up in this neighborhood, one of the hottest markets around. Canton is the spot to be if you can get properties at a good price!

  • Investor · Charleston SC · Member since 2016 · 13 posts · 3 votes
    9y

    Is this still available.  If so inbox me please.

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