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2200 N Charles Street, Baltimore, MD 21218
$635,000
2200 N Charles Street, Baltimore, MD 21218View this property at 2200 N Charles Street, Baltimore, MD 21218
2200 N Charles StreetBaltimoreMD21218
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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's 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 Apartment 3 One-Bedroom Apartments 1 Liquor Store 1 Accounting Office The 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's 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', and the Church Bar are just a stone's throw away, offering residents and tenants a diverse range of dining and entertainment options. Moreover, the property's 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 "Walker's Paradise" 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 Rate 10.0% Projected Cash-on-Cash Return
Full Property Details
Full Property Details for 2200 N Charles St
General
- Sold For: $635,000
- Taxes: $5,466 (2023)
- Status: Closed
- Type: Apartment
- MLS ID: MDBA2088208
- Added to Site: 340 day(s) ago
Business
- Business Type: Apartment Building, Professional, Other
Parking
- Parking Type: None
Location
- Municipality: Baltimore City
- County: Baltimore City
- Development Name: Old Goucher
- Subdivision: Old Goucher
- Cross Streets: 22Nd
- Driving Directions: Charles and 22nd
- City Limits: Yes
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Water Heater: Multi-tank, Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick
- Foundation: Brick/Mortar
- Roof: Flat, Rubber
- Stories/Levels: 0
- Year Built: 1900
- Year Built Source: Assessor
- Property Condition: Very Good
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.08
- Lot Size (Sq. Ft.): 3,450
- Lot Size Source: Assessor
- Zoning: C-1
Financial Considerations
- Price Per Sq. Ft.: $106.99
- Assessment Year: 2023
- City/TownTax: $5,206
- City/TownTax Freq: Annually
- County Tax: $259
- County Tax Freq: Annually
- Tax w/Assessment: $255,767
- Tax Amount: $5,466
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Fee Simple
- Exclusions: tenants' possessions
- Inclusions: 4 ranges, 4 refrigerators, walk-in refrigerators
- Lot Number: 20
Listed by Ben Frederick Realty, Inc., Thomas H Fair
Sold by Samson Properties, Rashad Henderson
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Schools
Schools serving 2200 N Charles St
School District:Baltimore City Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
201 E 21st St, Baltimore, MD 21218 | PK-5 | 0.2 mi | |
1300 Gorsuch Ave, Baltimore, MD 21218 | PK-5 | 0.9 mi | |
1301 McCulloh St, Baltimore, MD 21217 | 9-12 | 1 mi | |
1400 Orleans St, Baltimore, MD 21231 | 9-12 | 1.6 mi | |
1500 Harlem Ave, Baltimore, MD 21217 | 9-12 | 1.8 mi | |
2301 Gwynns Falls Pkwy, Baltimore, MD 21217 | 9-12 | 2 mi | |
100 N Calhoun St, Baltimore, MD 21223 | 9-12 | 2.1 mi | |
1100 Covington St, Baltimore, MD 21230 | 9-12 | 2.7 mi | |
501 N Athol Ave, Baltimore, MD 21229 | 9-12 | 4.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2200 N Charles St
Date
Details
Price
Change
Source
11/29/2023
Sold
$635,000
-8.63%
MLS
8/03/2023
Price Reduced
$695,000
-4.14%
MLS
6/05/2023
Listed
$725,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2200 N Charles Street, Baltimore, MD 21218 (MLS# MDBA2088208) is a Apartment property that was sold at $635,000 on November 29, 2023. Want to learn more about 2200 N Charles Street? Do you have questions about finding other Apartment real estate for sale in Baltimore? You can browse all Baltimore real estate or contact a Coldwell Banker agent to request more information.