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2435 Lakeview Avenue

BALTIMORE, MD 21217
  • $1,200,000
  • STATUS: Active
  • ON SITE: 24 Days
  • ID#: MDBA2042458
UPDATED: 68 min ago
$1,200,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

What makes this multiunit subsidized investment property in historic Reservoir Hill special?2435 Lakeview Avenue presents a great opportunity to acquire a well maintained 12 unit investment property with subsidized tenants located next to the reimagined Druid Hill Park in Reservoir Hill. Collect steady, guaranteed monthly rent from program tenants in a extensively renovated rental property.Property details of this 12 unit multi family:The property make up is 12 spacious one bedroom, one bathroom apartments. The property is a stand alone building, with abundant natural light in all units. The front 6 apartments all have french doors that lead out private balconies with the top 2 floors offering views of Druid Lake and Druid Hill Park beyond. The rear apartments have the added attraction of eat in kitchens. The kitchens are good sized with 30+G- electric ranges, refrigerators, stainless steel sink, wood cabinets and laminate counter tops. The bathrooms all have vintage porcelain sinks, subway tile surrounds and floors with steel shower/tubs. This substainal building retains its historic character with 10 -12 ft ceilings, original hardwood floors and a broad open staircase. The current rents are below market, allowing a new landlord to raise rents and increase investment returns. The cavernous basement, currently underutilized, sets up well for tenant storage and washer/dryers. The addition of contracted washer/ dryers would give the landlord an additional source of revenue. There are 6 parking spaces behind the building that could garner additional income or be used as a perk to entice tenants to lease within the building.Who pays utilties?The property was extensively renovated in 2010, leaving the mechanics of the building in great shape. The property is an electric building. The recently updated electric service is seperately metered for all units with seperate 100 amp panels in each apartment, allowing the tenants to pay their own utilties. Each apartment has an updated heat pump, central air and a 40 gallon electric hot water heater. The building has a 2+G- copper water main in from the street that feeds an operational commercial sprinkler system. The redone C-PVC plumbing is neatly seperated in the basement, making maintenance a breeze. The recently replaced roof is roll down mineral felt.What+GGs nearby?2435 Lakeview Avenue has a great location! Reservoir Hill is a historic neighborhood in West Baltimore. The diverse neighborhood near Druid Hill Park boasts access to the amenities of one of the largest green spaces in the city, community gardens, (Whitelock Community Farm) and cafes. Residents love the walkability and enjoy easy access to public transportation, including Metro Subway, LightRail and buses.The property is located a short walk from Druid Hill Park. The park has been under going a massive renovation, including a totally redone waterfront with shops, restaurants and access to the water. When completed, these improvements will add value to all surrounding neighborhoods.

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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 Keller Williams Reston. 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: 2022-05-18T10:52:45.597.
www.thepianohomegroup.com/homes/128006711
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2435 Lakeview Avenue BALTIMORE, MD 21217

  • Price: $1,200,000
  • Status: Active
  • On Site: 24 Days
  • Updated: 68 min ago
  • ID#: MDBA2042458
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1900
Built
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
What makes this multiunit subsidized investment property in historic Reservoir Hill special?2435 Lakeview Avenue presents a great opportunity to acquire a well maintained 12 unit investment property with subsidized tenants located next to the reimagined Druid Hill Park in Reservoir Hill. Collect steady, guaranteed monthly rent from program tenants in a extensively renovated rental property.Property details of this 12 unit multi family:The property make up is 12 spacious one bedroom, one bathroom apartments. The property is a stand alone building, with abundant natural light in all units. The front 6 apartments all have french doors that lead out private balconies with the top 2 floors offering views of Druid Lake and Druid Hill Park beyond. The rear apartments have the added attraction of eat in kitchens. The kitchens are good sized with 30+G- electric ranges, refrigerators, stainless steel sink, wood cabinets and laminate counter tops. The bathrooms all have vintage porcelain sinks, subway tile surrounds and floors with steel shower/tubs. This substainal building retains its historic character with 10 -12 ft ceilings, original hardwood floors and a broad open staircase. The current rents are below market, allowing a new landlord to raise rents and increase investment returns. The cavernous basement, currently underutilized, sets up well for tenant storage and washer/dryers. The addition of contracted washer/ dryers would give the landlord an additional source of revenue. There are 6 parking spaces behind the building that could garner additional income or be used as a perk to entice tenants to lease within the building.Who pays utilties?The property was extensively renovated in 2010, leaving the mechanics of the building in great shape. The property is an electric building. The recently updated electric service is seperately metered for all units with seperate 100 amp panels in each apartment, allowing the tenants to pay their own utilties. Each apartment has an updated heat pump, central air and a 40 gallon electric hot water heater. The building has a 2+G- copper water main in from the street that feeds an operational commercial sprinkler system. The redone C-PVC plumbing is neatly seperated in the basement, making maintenance a breeze. The recently replaced roof is roll down mineral felt.What+GGs nearby?2435 Lakeview Avenue has a great location! Reservoir Hill is a historic neighborhood in West Baltimore. The diverse neighborhood near Druid Hill Park boasts access to the amenities of one of the largest green spaces in the city, community gardens, (Whitelock Community Farm) and cafes. Residents love the walkability and enjoy easy access to public transportation, including Metro Subway, LightRail and buses.The property is located a short walk from Druid Hill Park. The park has been under going a massive renovation, including a totally redone waterfront with shops, restaurants and access to the water. When completed, these improvements will add value to all surrounding neighborhoods.
Exterior Features

Construction Materials BrickStoneConcrete Garage YN No Parking Types On StreetParking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 8400.00 Cooling Central A/C Heating Heat Pump - Electric Backup Heating YN Yes Net Square Feet 8400.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment Building Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Municipality Baltimore City Navigable Water YN N New Construction YN No Number Of Units Total 12 Original MLSNumber 801506133402 Ownership Interest Fee Simple Possession 31-60 Days Cd Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 18144.00 Tax Assessment Amount 813900.00 Tax Lot 023B Vacation Rental YN No Water Source Public Zoning R-8

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 Keller Williams Reston. 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: 2022-05-18T10:52:45.597.
 
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