Skip To Content

2200 N Charles Street

BALTIMORE, MD 21218
  • $635,000
  • STATUS: Closed
  • ON SITE: 412 Days
  • ID#: MDBA2088208
Sold - 11/29/2023
$635,000
SOLD - 11/29/2023
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

This investment offering stands out with its expansive size, with an extra-large lot and three physical addresses. The property includes four apartments, a thriving liquor store, and an accountant+GGs office. With a diverse range of revenue streams and easy-to-lease spaces, this investment presents a unique opportunity for steady cash flow and future growth.Unit Mix:1 Two-Bedroom Apartment3 One-Bedroom Apartments1 Liquor Store1 Accounting OfficeThe apartments are bathed in natural light and feature bay windows and lofty ceilings, creating a spacious and inviting atmosphere. Kitchens are designed for durability and convenience. Laminate countertops and cabinets offer both functionality and easy maintenance, while stainless steel sinks and gas ranges elevate the overall quality. The bathrooms have modern vanities and sturdy steel tubs, with one apartment boasting a clawfoot tub. With separate gas furnaces and central air conditioning, these units will command top-market rents to top tier tenants.Geri+GGs Liquors has a front customer area, a walk-in refrigerator, three storage rooms, and a half bathroom. Their lease runs through April 2024, with two five-year renewal options, with regular rent increases.The accounting office at 10 West 22nd Street comprises a customer reception area, three small office spaces, and a half bathroom. The office lease runs through September 2024, with a five-year renewal option.Each unit has its own gas furnace and central air conditioning, and each tenant pays their own gas and electric bill. The apartments and the liquor store share two tandem 50-gallon hot water heaters. A savvy landlord further increase profitability by implementing a utility bill back for hot and cold water.These buildings have six electric meters and six gas meters. Vinyl replacement windows throughout help insulate and keep heating and cooling costs low for the tenants. Most roof surfaces are rubber with an aluminum fibre coating. Visible plumbing supply lines are copper and c-pvc; drain lines are pvc.Located in the Old Goucher neighborhood, this investment property benefits from its strategic location between the ever-growing neighborhoods of Charles Village and Mount Vernon. With a high percentage of renters in the area, a steady tenant pool is readily available, ensuring minimal vacancy periods and a robust rental market.The neighborhood has attracted numerous entrepreneurs, resulting in a thriving culinary scene. Local favorites such as Dutch Courage, WC Harlans+GG, and the Church Bar are just a stone+GGs throw away, offering residents and tenants a diverse range of dining and entertainment options. Moreover, the property+GGs central location in Baltimore provides easy access to downtown and points north via I-83, making commuting a breeze.2200 North Charles earns the designation +G+Walker+GGs Paradise+G- with a Walk Score of 94, a Transit Score of 83, and a Bike Score of 85.Investment Summary:$695,000$115,833 Per Unit$107 Per Sq. Ft.9.2 Times Actual Rents (GRM)8.3 Times Market Rents (GRM)9.08% Cap Rate10.0% Projected Cash-on-Cash Return

Monthly Payment Calculator



©2024 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 Eng Garcia Properties, LLC | Keller Williams Capital Properties. 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: 2024-07-22T08:52:59.77.
www.enggarcia.com/homes/140228795
Print Image

2200 N Charles Street BALTIMORE, MD 21218

  • Price: $695,000
  • Status: Closed
  • On Site: 412 Days
  • Updated: 102 min ago
  • ID#: MDBA2088208
0
Beds
0
Baths
0
½ Baths
0.08
Acres
1900
Built
Neighborhood:
Old Goucher
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
This investment offering stands out with its expansive size, with an extra-large lot and three physical addresses. The property includes four apartments, a thriving liquor store, and an accountant+GGs office. With a diverse range of revenue streams and easy-to-lease spaces, this investment presents a unique opportunity for steady cash flow and future growth.Unit Mix:1 Two-Bedroom Apartment3 One-Bedroom Apartments1 Liquor Store1 Accounting OfficeThe apartments are bathed in natural light and feature bay windows and lofty ceilings, creating a spacious and inviting atmosphere. Kitchens are designed for durability and convenience. Laminate countertops and cabinets offer both functionality and easy maintenance, while stainless steel sinks and gas ranges elevate the overall quality. The bathrooms have modern vanities and sturdy steel tubs, with one apartment boasting a clawfoot tub. With separate gas furnaces and central air conditioning, these units will command top-market rents to top tier tenants.Geri+GGs Liquors has a front customer area, a walk-in refrigerator, three storage rooms, and a half bathroom. Their lease runs through April 2024, with two five-year renewal options, with regular rent increases.The accounting office at 10 West 22nd Street comprises a customer reception area, three small office spaces, and a half bathroom. The office lease runs through September 2024, with a five-year renewal option.Each unit has its own gas furnace and central air conditioning, and each tenant pays their own gas and electric bill. The apartments and the liquor store share two tandem 50-gallon hot water heaters. A savvy landlord further increase profitability by implementing a utility bill back for hot and cold water.These buildings have six electric meters and six gas meters. Vinyl replacement windows throughout help insulate and keep heating and cooling costs low for the tenants. Most roof surfaces are rubber with an aluminum fibre coating. Visible plumbing supply lines are copper and c-pvc; drain lines are pvc.Located in the Old Goucher neighborhood, this investment property benefits from its strategic location between the ever-growing neighborhoods of Charles Village and Mount Vernon. With a high percentage of renters in the area, a steady tenant pool is readily available, ensuring minimal vacancy periods and a robust rental market.The neighborhood has attracted numerous entrepreneurs, resulting in a thriving culinary scene. Local favorites such as Dutch Courage, WC Harlans+GG, and the Church Bar are just a stone+GGs throw away, offering residents and tenants a diverse range of dining and entertainment options. Moreover, the property+GGs central location in Baltimore provides easy access to downtown and points north via I-83, making commuting a breeze.2200 North Charles earns the designation +G+Walker+GGs Paradise+G- with a Walk Score of 94, a Transit Score of 83, and a Bike Score of 85.Investment Summary:$695,000$115,833 Per Unit$107 Per Sq. Ft.9.2 Times Actual Rents (GRM)8.3 Times Market Rents (GRM)9.08% Cap Rate10.0% Projected Cash-on-Cash Return
Exterior Features

Construction Materials Brick Garage YN No Parking Types None Property Condition Very Good Riparian Rights YN No Roof FlatRubber Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6496.00 Cooling Central A/C Exclusions tenants' possessions Heating Heat Pump(s) Heating YN Yes Inclusions 4 ranges4 refrigeratorswalk-in refrigerators Net Square Feet 6496.00

Property Features

Accessibility Features None Assessment Year 2023 Business Type Apartment BuildingProfessionalOther Buyer Financing Conventional Central Air YN Yes Cooling Fuel Electric Cross Street 22nd Electric 200+ Amp Service Foundation Details Brick/Mortar Heating Fuel Electric Hot Water Multi-tankNatural Gas Lease Considered YN No Municipality Baltimore City Navigable Water YN N New Construction YN No Number Of Units Total 6 Original MLSNumber 802392762740 Ownership Interest Fee Simple Possession ImmediateSubject to Existing Lease Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 5466.00 Tax Assessment Amount 255767.00 Tax Lot 020 Vacation Rental YN No Water Source Public Zoning C-1 Zoning Description Community Commercial; Licensed for 4 Dwelling Units

Listing courtesy of Ben Frederick Realty, Inc.: .


©2024 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 Eng Garcia Properties, LLC | Keller Williams Capital Properties. 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: 2024-07-22T08:52:59.77.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802392762740-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802392762740-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802392762740-2.jpg
Logo
Eng Garcia Properties, LLC | Keller Williams Capital Properties
1930 18th St NW
Washington DC, 20009