$460,000
$455,000
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3119 GUILFORD AVE Baltimore, MD 21218
3,270 SqFt
Key Details
Sold Price $460,000
Property Type Multi-Family
Sub Type End of Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 3,270 sqft
Price per Sqft $140
Subdivision Charles Village
MLS Listing ID MDBA2016106
Sold Date 02/02/22
Style Traditional
Abv Grd Liv Area 2,870
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $6,492
Tax Year 2021
Lot Size 2,569 Sqft
Acres 0.06
Lot Dimensions 23'9\" x 108'
Property Description
Charles Village 4-unit for sale! The newly renovated first floor apartment is perfect for an owner-occupant buyer, and is rent-ready for an investor. Run this property as-is, or make upgrades to kitchens and bathrooms to increase rents and property value. 3119 Guilford Ave is just three blocks from Johns Hopkins University Homewood campus.
Each of the apartments encompasses a full floor (including the basement) of the 3-story building. The generously sized rooms get ample natural light from the 20 windows this end-of-group boasts.
Kitchens have laminate counters, stainless steel sinks, a mix of wood and metal cabinets, gas ranges and vinyl tile floors. Bathrooms have a mix of modern vanities and wall-mounted sinks; 3 full tubs and 1 stand-up shower stall; and vinyl tile floors. Above-grade living areas have hardwood flooring; the basement apartment has carpet.
These units are separately metered for gas and electric, and the tenants pay for water. With no utilities to pay, the landlords operating costs stay low.
The electric and heating systems are already upgraded, with 400 amp service and 4 electric meters, and separate gas-fired forced air furnaces for each apartment. 3119 Guilford has 4 gas meters. Water supply pipes are a mix of copper, c-pvc and steel; drain lines are a mix of pvc and steel. Each apartment has its own water heater.
The tenants use coin-operated laundry in the basement, providing extra income for the owner.
Tenants can walk to the Charles Village Shopping District, Johns Hopkins University Homewood Campus and Union Memorial Hospital. 3119 Guilford Ave earns the designation Walkers Paradise with a WalkScore of 93, a TransitScore of 57, and a BikeScore of 86. This block is patrolled by Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
Investment Summary:
$455,000
$113,750 Per Unit
$159 Per Sq. Ft.
14.2 Times Actual Rents (GRM)
9.6 Times Market Rents (GRM)
7.12% Cap Rate
10.3% Projected Cash-on-Cash Return
Location
State MD
County Baltimore City
Zoning R-6
Rooms
Basement Daylight, Partial, Full, Partially Finished
Interior
Hot Water Natural Gas, Multi-tank
Heating Forced Air
Cooling None
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Parking Type On Street
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0312203875 013
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing FHA, Cash, Conventional, FHA 203(k), VA
Listing Terms FHA, Cash, Conventional, FHA 203(k), VA
Financing FHA,Cash,Conventional,FHA 203(k),VA
Special Listing Condition Standard
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Bought with Thomas Fair • Ben Frederick Realty, Inc.
