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2516 N Charles Street

BALTIMORE, MD 21218
  • $1,350,000
  • STATUS: Active
  • ON SITE: 101 Days
  • ID#: MDBA2037916
UPDATED: 12 min ago
$1,350,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

2516 +GG 2520 North Charles Street offers a combination of residential apartments and commercial office suites in a central Baltimore neighborhood. Diversify your portfolio and mitigate risk in this mixed-use investment building. These renovated apartments are easy to lease and maintain, and small commercial suites are popular along the busy 25th Street commercial corridor in Baltimore.Unit Mix:6 One-Bedroom Apartments1 Two-Bedroom Apartment5 Office Suites1 Hair SalonThe apartments feature modern kitchens with a mix of granite and laminate countertops, and wood and laminate cabinets. All kitchens have electric ranges, and ceramic tile floors. Bathrooms contain a mix of vinyl shower stalls and steel tubs; all bathrooms have ceramic tile floors. Living areas and bedrooms have comfortable carpeting. Individual HVAC systems for each apartment (heating and air conditioning!), vinyl replacement windows, and modern lighting and drywall appeal to today+GGs tenants.The commercial suites have been built out by the tenants to suit their needs. The first floor suites contain a mix of carpet, laminate, and vinyl tile flooring. The basements have ceramic tile floors. Each suite has a half bathroom.The apartments are separately metered for electric. Each unit has its own electric heat pump, air conditioning, and water heater. Water and sewer is split amongst the tenants.The commercial suites share a commercial electric meter, and one gas meter per building. These costs, plus water, are split between the landlord and the tenants.A large, 3,418 sq. ft. asphalt lot provides parking in the rear of the building. A savvy landlord would lease out these spaces to increase rental income.The landlord provides a dumpster for trash removal, and pays a service to clean common hallways.25th Street is a bustling commercial thoroughfare in North Central Baltimore, home to many small businesses and national retailers alike. Apartment tenants enjoy the close proximity to many retail shops and grocery stores. Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art are all close by.Charles Village+GGs location in central Baltimore makes for an easy commute downtown or to the county via I-83. 2516 +GG 2520 North Charles Street garners a WalkScore of 94, and transitScore of 68, and a BikeScore of 89.$1,350,000$103,846 Per Unit$166 Per Sq. Ft.12.7 Times Actual Rent (GRM)9.0 Times Market Rent (GRM)7.77% Cap Rate7.9% Projected Cash-on-Cash Return

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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 Corner House Realty. 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: 2022-07-01T12:55:58.05.
www.cornerhouserealty.com/homes/126923189
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2516 N Charles Street BALTIMORE, MD 21218

  • Price: $1,350,000
  • Status: Active
  • On Site: 101 Days
  • Updated: 12 min ago
  • ID#: MDBA2037916
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1900
Built
Neighborhood:
Charles Village
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
2516 +GG 2520 North Charles Street offers a combination of residential apartments and commercial office suites in a central Baltimore neighborhood. Diversify your portfolio and mitigate risk in this mixed-use investment building. These renovated apartments are easy to lease and maintain, and small commercial suites are popular along the busy 25th Street commercial corridor in Baltimore.Unit Mix:6 One-Bedroom Apartments1 Two-Bedroom Apartment5 Office Suites1 Hair SalonThe apartments feature modern kitchens with a mix of granite and laminate countertops, and wood and laminate cabinets. All kitchens have electric ranges, and ceramic tile floors. Bathrooms contain a mix of vinyl shower stalls and steel tubs; all bathrooms have ceramic tile floors. Living areas and bedrooms have comfortable carpeting. Individual HVAC systems for each apartment (heating and air conditioning!), vinyl replacement windows, and modern lighting and drywall appeal to today+GGs tenants.The commercial suites have been built out by the tenants to suit their needs. The first floor suites contain a mix of carpet, laminate, and vinyl tile flooring. The basements have ceramic tile floors. Each suite has a half bathroom.The apartments are separately metered for electric. Each unit has its own electric heat pump, air conditioning, and water heater. Water and sewer is split amongst the tenants.The commercial suites share a commercial electric meter, and one gas meter per building. These costs, plus water, are split between the landlord and the tenants.A large, 3,418 sq. ft. asphalt lot provides parking in the rear of the building. A savvy landlord would lease out these spaces to increase rental income.The landlord provides a dumpster for trash removal, and pays a service to clean common hallways.25th Street is a bustling commercial thoroughfare in North Central Baltimore, home to many small businesses and national retailers alike. Apartment tenants enjoy the close proximity to many retail shops and grocery stores. Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art are all close by.Charles Village+GGs location in central Baltimore makes for an easy commute downtown or to the county via I-83. 2516 +GG 2520 North Charles Street garners a WalkScore of 94, and transitScore of 68, and a BikeScore of 89.$1,350,000$103,846 Per Unit$166 Per Sq. Ft.12.7 Times Actual Rent (GRM)9.0 Times Market Rent (GRM)7.77% Cap Rate7.9% Projected Cash-on-Cash Return
Exterior Features

Construction Materials Brick Garage YN No Parking Types Parking Lot Property Condition Excellent Riparian Rights YN No Roof Rubber Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 10230.00 Cooling Central A/C Exclusions Tenants' Possessions Heating Heat Pump(S)Baseboard - Electric Heating YN Yes Inclusions 7 RangesWall-To-Wall Carpet Net Square Feet 8130.00

Property Features

Acceptable Financing ExchangePrivateOther Accessibility Features Wheelchair Mod Assessment Year 2022 Business Type Apartment BuildingProfessionalHair Salon And Spa Central Air YN Yes Cooling Fuel Electric Electric 200+ Amp Service Gross Income 140241.00 Heating Fuel Electric Historic YN No Hot Water Multi-TankElectricNatural Gas Lease Considered YN No Navigable Water YN N Net Operating Income 99278.00 New Construction YN No Number Of Units Total 13 Original MLSNumber 801417963256 Ownership Interest Fee Simple Possession ImmediateSubject To Existing Lease Property Sub Type Mixed Use Sale Type Standard Section 03 Sewer Public Sewer Tax Annual Amount 12726.00 Tax Assessment Amount 541900.00 Tax Lot 009 Transportation Bus Stop Less Than 1 MileCommuter Rail Station Less Than 1 Mile Vacation Rental YN No Water Source Public Zoning Or-2 Zoning Description Office / Residential; Licensed For 7 Dwelling Units

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 Corner House Realty. 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: 2022-07-01T12:55:58.05.
 
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