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3712 Parkside Drive

BALTIMORE, MD 21206
  • $425,000
  • STATUS: Active
  • ON SITE: 91 Days
  • ID#: MDBA2121126
UPDATED: 97 min ago
$425,000
  • 0
    BEDS
  • 0.44
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,866
    SQFT
  • $72
    $/SQFT
Type:
Multi-Family
Built:
1920
County:

School Information

Elementary School:

Description

Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 9.08% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investment"Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.

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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 The Pierre Group | United Real Estate. 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: 2024-07-19T13:01:06.023.
www.thepierreregroup.com/homes/149286907
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3712 Parkside Drive BALTIMORE, MD 21206

  • Price: $425,000
  • Status: Active
  • On Site: 91 Days
  • Updated: 97 min ago
  • ID#: MDBA2121126
0
Beds
0
Baths
0
½ Baths
0.44
Acres
5,866
SQFT
$72
$/SQFT
1920
Built
County:
Baltimore City
Elementary School:
Gardenville
School District:
Baltimore City Public Schools
Property Description
Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 9.08% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investment"Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.
Exterior Features

Architectural Style Colonial Construction Materials BrickOther Garage Spaces 2.00 Garage Type Garage - Front Entry Garage YN Yes Parking Types Off StreetDetached GarageDriveway Pool No Pool Property Condition Average Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 4866 Basement ImprovedInterior AccessOutside EntranceConnecting StairwayPartially FinishedWalkout Stairs Basement YN Yes Below Grade Finished Area 1000 Below Grade Unfinished Area 600 Cooling None Fireplace YN No Heating Hot Water Heating YN Yes Single Room Units 0 Three Bedroom Units 1 Two Bedroom Units 0

Property Features

Acceptable Financing CashBank PortfolioOther Accessibility Features None Central Air YN No Cooling Fuel Electric Existing Lease Type Month to Month Foundation Details Block Heating Fuel ElectricNatural Gas Hot Water ElectricNatural Gas Municipality Baltimore City Navigable Water YN N Net Operating Income 38590.00 New Construction YN No Number Of Units Leased 5 Number Of Units Total 4 Number Of Units Vacant 0 Operating Expense Includes Insurance Original MLSNumber 802986105336 Owner Pays Common Area MaintenanceInsuranceWaterTaxes - Real EstateSupplies Ownership Interest Fee Simple Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Detached Tax Annual Amount 9785.00 Tax Lot 005 Total Actual Rent 56880.00 Vacation Rental YN No Water Source Public Zoning R-5

Listing courtesy of EXP Realty, LLC: .


©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 The Pierre Group | United Real Estate. 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: 2024-07-19T13:01:06.023.
 
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