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2203 N Charles Street, Baltimore, MD 21218
$346,000
2203 N Charles Street, Baltimore, MD 21218View this property at 2203 N Charles Street, Baltimore, MD 21218
2203 N Charles StreetBaltimoreMD21218
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Property Description
Price Improved! Welcome to 2203 North Charles Street, nestled in the growing neighborhood of Old Goucher. With a staggering 95% renter population, this area presents an excellent opportunity for investors. Positioned on Charles Street, the bustling main thoroughfare of north central Baltimore City, this property enjoys a constant stream of daytime foot traffic. Whether you're seeking commercial or residential spaces, renting out these units is a breeze, making it an exceptional investment choice. Each space has its own separate electric heat pump and central air conditioning system, ensuring year-round comfort for tenants. The third floor apartment features a galley kitchen with wood cabinets, laminate countertops, and a 30″ electric range. The bathroom has a modern vanity and a fiberglass tub. With sturdy finishes and easy-to-clean vinyl floors, this apartment is easy to lease and quick to turn over. The second floor apartment features an upgraded full kitchen complete with wood cabinets, ample formica countertop space, a 30″ electric range, built-in microwave, and a dishwasher. The spacious living room has three large windows, bathing the room in natural light, and recessed lighting adds a touch of elegance. Fully equipped with in-suite laundry, this apartment has it all for today's modern tenant. The first floor beauty boutique has charming exposed brick walls and lofty ceilings. Its allure is further enhanced by a floor-to-ceiling storefront window, inviting passersby to explore within. The boutique encompasses a spacious customer area, two small offices for business operations, and a convenient half bathroom. The ground floor pharmacy space is occupied by a long-term tenant. Welcoming customers with a front lobby area, the space also has a storage area and a half bathroom, ensuring functionality for daily operations. Each unit has its own heating and air conditioning systems. The building is served by one gas meter, which fires the 40-gallon water heater; and five electric meters, with 150 amps to each unit. 2203 North Charles Street has vinyl replacement windows throughout. Observable water supply pipes are copper and c-pvc, with a steel main; observable drain lines are pvc. Tenants pay for their own electric usage. The landlord pays for water, sewer, and public service gas and electric. Currently the first floor commercial tenant reimburses for a portion of the public service utilities; a savvy landlord could increase cash flow by implementing a total utility reimbursement. 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. 2203 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. $349,000 $87,250 Per Unit $154 Per Sq. Ft. 7.3 Times Actual Rents (GRM) 6.3 Times Market Rents (GRM) 10.08% Cap Rate 13.4% Projected Cash-on-Cash Return
Full Property Details
Full Property Details for 2203 N Charles St
General
- Sold For: $346,000
- Taxes: $5,350 (2023)
- Status: Closed
- Type: Multi-Family
- MLS ID: MDBA2100494
- Added to Site: 231 day(s) ago
Parking
- Parking Type: None
Location
- Municipality: Baltimore City
- County: Baltimore City
- Development Name: Old Goucher
- Subdivision: Old Goucher
- Driving Directions: Charles and 22nd
- City Limits: Yes
School Information
- School District: Baltimore City Public Schools
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Water Heater: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Info: Traditional
- Architectural Style: Traditional
- Structure Type: Interior Row/Townhouse
- Construction: Brick
- Foundation: Brick/Mortar
- Roof: Flat, Rubber
- Stories/Levels: 0
- Square Feet: 3,024
- Sq. Ft. Source: Estimated
- Living Area: 3,024 Sq. Ft.
- Year Built: 1920
- Year Built Source: Estimated
- Property Condition: Good
Unit Information
- Other Units: Unit 1, Unit 2, Unit 4, Unit 3
- 1 Bedroom Units: 2
Lot Features
- Lot Size (Acres): 0.04
- Lot Size (Sq. Ft.): 1,638
- Lot Size Source: Estimated
- Lot Dimensions: 18' x 93'5"
- Zoning: C-1
Financial Considerations
- Price Per Sq. Ft.: $153.88
- Assessment Year: 2023
- City/TownTax: $5,096
- City/TownTax Freq: Annually
- County Tax: $254
- County Tax Freq: Annually
- Tax w/Assessment: $239,800
- Tax Amount: $5,350
- Tax Year: 2023
- Terms: Standard Sale
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Ownership: Fee Simple
- Exclusions: tenants' possessions
- Inclusions: 2 ranges, 2 refrigerators, 1 built-in microwave, 1 dishwasher, 1 clothes washer/dryer
- Lot Number: 2
Listed by Ben Frederick Realty, Inc., Thomas H Fair
Sold by Long & Foster Real Estate, Inc., Tsegaye G Tadesse
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Schools
Schools serving 2203 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 | |
100 N Calhoun St, Baltimore, MD 21223 | 9-12 | 2.1 mi | |
2301 Gwynns Falls Pkwy, Baltimore, MD 21217 | 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 2203 N Charles St
Date
Details
Price
Change
Source
11/17/2023
Sold
$346,000
-0.86%
MLS
9/27/2023
Listed
$349,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2203 N Charles Street, Baltimore, MD 21218 (MLS# MDBA2100494) is a Multi-Family property that was sold at $346,000 on November 17, 2023. Want to learn more about 2203 N Charles Street? Do you have questions about finding other Multi-Family real estate for sale in Baltimore? You can browse all Baltimore real estate or contact a Coldwell Banker agent to request more information.