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5447 Park Heights Avenue

BALTIMORE, MD 21215
  • $1,050,000
  • STATUS: Active
  • ON SITE: 61 Days
  • ID#: MDBA2114854
$1,050,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1926
County:

School Ratings & Info

Description

Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Dont miss out. Contact us for more info today!

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©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 Arlington Realty, Inc.. 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: 2024-04-22T18:06:47.273.
www.arlingtonrealtyinc.com/homes/147791811
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5447 Park Heights Avenue BALTIMORE, MD 21215

  • Price: $1,050,000
  • Status: Active
  • On Site: 61 Days
  • ID#: MDBA2114854
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1926
Built
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Dont miss out. Contact us for more info today!
Exterior Features

Construction Materials Brick Garage YN No Parking Types Parking Lot Property Condition Good Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 12354.00 Cooling None Heating Forced Air Heating YN Yes Net Square Feet 4218.00

Property Features

Acceptable Financing Conventional Accessibility Features 2+ Access Exits Central Air YN No Cooling Fuel Electric Ground Rent Payment Frequency Annually Heating Fuel Natural Gas Hot Water Natural Gas Municipality Baltimore City Navigable Water YN N New Construction YN No Number Of Units Total 3 Original MLSNumber 802874671186 Ownership Interest Fee Simple Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 6266.00 Tax Lot 019 Vacation Rental YN No Water Source Public Zoning C-2

Listing courtesy of ExecuHome Realty: .


©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 Arlington Realty, Inc.. 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: 2024-04-22T18:06:47.273.
 
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