Address
3712 Parkside Drive, Baltimore, MD
Price
$ 450,000
Property Attributes
- MLS#MDBA2121126
- TypeMulti-Family
- CountyBALTIMORE CITY
- CityBaltimore
- Zip21206
- StyleColonial
- Year Built1920
- Taxes$ 9785
- Price$ 450,000
- Bedrooms7
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.44 Acres
Data Source:
Bright MLS
Property Description
Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 8.57% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a separately deeded vacant lot next door, possibly zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. 5th apartment (3 bedrooms, 2 Bath) not pictured. Act quickly to secure this multifaceted investmentPreapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.
| Elementary School |
|---|
| Gardenville Elementary School |
| Price History | |
|---|---|
| 4/15/2024 | Listed $450,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Hot Water |
| Cooling | None |
| Possession | Settlement |
| Zoning | R-5 |
| Garage Spaces | 2.00 |
| Pool Y/N | No Pool |
| Architectural Style | Colonial |
| Construction Materials | Brick,Other |
| Year Built | 1920 |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Section | 01 |
| OwnerPays | Common Area Maintenance,Insurance,Water,Taxes - Real Estate,Supplies |
| Accessibility | None |
| County | BALTIMORE CITY |
| Net Operating Income | 38590.00 |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | Yes |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | Route 1 to Parkside Drive |
| ModificationTimestamp | 2024-04-19T21:42:47 |
| City | BALTIMORE |
| Buyer Agent Compensation | 2.5 |
| Total Units | 4 |
| Lot Size Square Feet | 19176.00 |
| Tax Assessed Value | 414600.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 5 |
| Street Name | PARKSIDE |
| Tax Annual Amount | 9785.0 |
| Property Condition | Average |
| Structure Type | Detached |
| One Bedroom Units Count | 4 |
| Price Per Sq Ft | 92.48 |
| Acceptable Financing | Cash,Bank Portfolio,Other |
| Vacation Rental Y/N | No |
| Total SQFT | 6466 |
| Days on Market | 16 |
| Lease Type | Month to Month |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | Ward 27 |
| Tax Lot | 005 |
| Total Actual Rent | 56880.00 |
| Cap Rate | 8.57 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric,Natural Gas |
|---|---|
| Basement | Improved,Interior Access,Outside Entrance,Connecting Stairway,Partially Finished,Walkout Stairs |
| Hot Water | Electric,Natural Gas |
| Total Stories | 4 |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | DRIVE |
| Central Air Y/N | No |
| LivingAreaSource | Estimated |
| Three Bedroom Units Count | 1 |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking Spaces | 7 |
| Garage Features | Garage - Front Entry |
| Type of Parking | Off Street,Detached Garage,Driveway |
| Land Use Code | M |
| Foundation Details | Block |
| Water View Y/N | No |
| Lot Size Acres | 0.44 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 86200.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| # of Detached Garage Spaces | 2 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 21206
Price
Taxes
Visits
Year Built
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Copyright © 2024, Metropolitan Regional Information Systems, Inc. All rights reserved. Information deemed reliable but is not guaranteed. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MRIS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Allison James Estates and Homes - Virginia does
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Last Updated: May 2, 2024 3:56 PM UTC
