Description
RECENTLY UPDATED, FULLY LEASED PORTFOLIOThe offering consists of two side-by-side brick duplexes totaling four residential units, with all units currently leased. Recent improvements include flooring, paint, bathroom fixtures, and serviced HVAC systems, providing a solid physical foundation for continued operations while limiting the need for significant immediate capital improvements. ATTRACTIVE IN-PLACE CASH FLOW1051 & 1053 Desoto Road presents an opportunity to acquire a fully leased four-unit multifamily portfolio for $370,000, generating approximately $29,751 of annual NOI. The offering provides investors with an approximately 8.0% in-place capitalization rate, delivering immediate cash flow from a stabilized, fully occupied residential portfolio. STRATEGIC MORRELL PARK LOCATIONSituated in Baltimore's Morrell Park neighborhood, the property offers convenient access to major transportation routes, employment centers, and area amenities. The property is approximately five minutes fromI-95/Beltway access and Ascension Saint Agnes Hospital, eight minutes from I-295, 10 minutes from the west Baltimore MARC station, and 12minutes from Downtown Baltimore. The property is also adjacent to theWilkens Avenue commercial corridor and within a short walk of Morrell Park Elementary. LOW-COMPLEXITY MULTIFAMILY INVESTMENTThe four-unit configuration offers an efficient scale of ownership while maintaining the benefits of a diversified multifamily asset. with 100%occupancy, separately metered gas and electric, four assigned parking spaces, and recent servicing of the HVAC systems, the property provides an ownership profile designed to minimize day-to-day operational complexity. The compact portfolio allows an investor to capture multifamily rental income without the management demands typically associated with larger, more operationally intensive assets.
Details
| MLS # | MDBA2234662 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1942 |
| Days On Site | 19 |
| Listing Provided By | Greysteel Company LLC | Ari Firoozabadi |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 1,216 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R-6 |
| Acreage | 0.14 |
Interior
| Cooling | Other |
|---|---|
| Heating Yes / No | Yes |
| Heating | Radiator |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Wood |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 4716 |
|---|
Area Information
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21223 |
| Area | BALTIMORE CITY MD |
| Community Name | MILL HILL |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in MILL HILL) | |
Price: $370,000 low | high Med: $99,975 sqft: 1,216 low | high Med: 966 $ / sqft: $304 low | high Med: $107 On site: 19 low | high Med: 189 | |
Market Activity 21223
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Learn More About This Property
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21223 |
| Area | BALTIMORE CITY MD |
| Community Name | MILL HILL |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in MILL HILL) | |
Price: $370,000 low | high Med: $99,975 sqft: 1,216 low | high Med: 966 $ / sqft: $304 low | high Med: $107 On site: 19 low | high Med: 189 | |
