Active
5447 Park Heights Ave
Baltimore MD, 21215
$999,000
$80.86 per sqft
Active
12,354 sqft
Commercial
Built in 1926
Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Don't miss out. Contact us for more info today!
MDBA2114854
MLSⓇ ID
February 21, 2024
Listed
November 22, 2024
Updated
Map
5447 Park Heights Ave
Baltimore MD, 21215
Interior Features
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Forced Air, Natural Gas
Exterior/Building Features
Lot Size
0.24 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Baltimore City
Taxes
$6,266
Tax Frequency
Annually
Days on Market
219
Garage
No
Parking Total
10
View
No
County
BALTIMORE CITY
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
5/24/2024 | Price change | $999,000 -5% |
Listed by ExecuHome Realty
Listing Contact: 4109602949
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Data last updated on 11/22/2024 at 4:03 AM UTC