Great opportunity to own this 3-unit renovated self contained apartment building located on a major bus route in a residential community. I have SWEETEN this deal. I have a company who is subletting each unit to people with disabilities, ie VA Veterans, The League for People With Dishabilles and other organizations. They will be paying buyer of this property $3000 a month and taking care of all utilities and bills. I will make this is a part of the contract contingency.This is a triple net. THAT'S AMAZING INCOME. Puts Cap Rate over 19%.
This is an awesome opportunity for an investor or a first time home buyer! Live in one unit and rent the rest! COMPLETELY RENOVATED. Home is in need of central air. (2) 3/1 Apts. & 2/1 Apartment(RENTED) Shared laundry, forced heat, kitchen w/frig, range/oven.
This property is on MLS for $210k, the owner I personally know and have done several deals with. He wants me to bring my network of buyers to this property and will discount the property by $10k. Asking $190k, ARV $260k, Cap Rate 19%+, Repair cost est. $3k for Central Air. Provide LOI, NDNC, POF to receive lockbox and I will add Property Summary w/additional photos and EMD $5k at time of contract.Continued success to you. See you at the closing table.
PROJECTED RESULTS |
Projected Monthly Rent (net of vacancy) |
3,277.50 |
Projected Monthly Expenses |
467.75 |
Projected Monthly Net Operating Income |
2,809.75 |
Cap Rate Based on Cost Basis |
14.9% |
Cap Rate Based on ARV |
14.7% |
Assumed Time to Complete Rehab: |
0 Months |
Assumed Time to Lease Up |
2 Months |
Total Time between Acquisition and Lease-up: |
2 Months
|
Property Details for STANWOOD Avenue
Interior Features
Bathroom Information
- Main Floor Baths (Full): 1
- 1st Upper Floor Baths (Full): 1
- 2nd Upper Floor Baths (Full): 1
Bedroom Information
- 1st Upper Floor Beds: 3
- 2nd Upper Floor Beds: 2
- Main Floor Beds: 3
Dining & Kitchen
- Table Space in Kitchen
Basement Information
- Has Basement
- Unfinished
- Outside Entrance
Parking / Garage, Utilities, Financing, Location Details
Parking & Garage
- Street Parking
Utility Information
- Heating: Programmable Thermostat
- Fuel: Natural Gas Heating
Finances & Fees
- Tax Year: 2012
- Total Taxes: $4,226.88
- Total Taxes Frequency: Annually
- City Tax: $4,027.97
- City Tax Frequency: Annually
- County Tax: $198.91
- County Tax Frequency: Annually
- Possession: Settlement, Immediate
Location Information
- Directions: BELAIR ROAD TO LEFT ONTO STANWOOD AVENUE (JUST BELOW MORAVIA ROAD). HOME IS ON THE LEFT
Exterior Features
Water & Sewer
- Public Sewer
- Public Water
- Hot Water: Natural Gas
Building Information
- Vinyl Siding
Property / Lot Details
Property Information
- Condition: As-Is condition, Building Winterized, Fixer Upper
- Ownership: Fee Simple
- Block or Square: 5936A
- Election District: 26
- Zoning: 0R040
Lot Information
- Lot #: 056
- Section: 41
- Acres (Lot Area): 0.077135
Misc. Information, Documents & Disclosures
Assessment Information
- Year: 2013
- Total Assessment: $167,800.00
- Total Assessment Frequency: Annually
- Land Assessment: $30,200.00
- Land Assessment Frequency: Annually
- Improvement Assessment: $137,600.00
- Improvement Assessment Frequency: Annually
Documents & Disclosures
- Property Disclaimer
Public Records for STANWOOD Avenue
Taxable Value
Land |
$30,200 |
Additions |
$137,600 |
Total |
$167,800 |
Taxes (2015)$3,960
Basic Info
Beds |
— |
Baths |
3 |
Floors |
3 |
Year Built |
1920 |
Year Renovated |
— |
Style |
Single Family Residential |
Finished Sq. Ft. |
2,928 |
Unfinished Sq. Ft. |
600 |
Total Sq. Ft. |
3,528 |
Lot Size |
3,360 |
CountyBaltimore City
APN5936A056
County Data RefreshedJul 22, 2016