What makes this Union Square multi family apartment building special:
Great opportunity to own a fully leased 4 unit apartment building that underwent a complete renovation in 2013 and is situated across the street from historic Union Square Park. Located less than a mile from Camden Yards, this 4 unit investment property offers solid cash flow with a 13.8% cash on cash return.
Apartment Property Details
The unit mix is: 1 two bedroom/one bath and 3 one bedroom/one bath apartments. All kitchens have a 24″ stainless steel sink, 30″ electric range with built in microwave, refrigerator, laminate countertops and wooden cabinets. The spacious 1st floor two bedroom apartment offers an in unit washer/dryer and is complimented by a rear deck. The 3 remaining apartments utilize a coin operated washer/dryer conveniently located in the first floor hall. The 2nd floor rear apartment is a two-story unit with a rear deck and a spiral stair leading to a loft bedroom. All bathrooms have modern vanities and tub/shower with ceramic tile surround.
Who Pays Which Utilities:
The physical plant is in good shape! Completely renovated in 2013, 1433 W. Lombard offers a chance to own a low maintenance, easy to manage property. This is an electric building with new (2013) service. Each apartment is separately metered with electric panel in unit allowing the tenants to pay their own utilities. All units have a (2013) separate heat pump with central air conditioning and separate 40 gallon water heaters. All the plumbing is new along with a new rubber roof. The building is Limited Lead Free per MDE standards. Once this certificate is issued, no additional interior inspections are needed. Exterior and common areas must be checked for defective lead-based paint every two years with a visual inspection.
1433 W. Lombard is located across from historic Union Square Park. Nineteenth and 20th-century rowhomes surround the neighborhood’s namesake main square center. The neighborhood is also home to several art galleries, artist studios and a bed and breakfast. 1433 West Lombard Street has a Walk Score of 92 out of 100. This location is a walker’s paradise so daily errands do not require a car. The location is minutes from the University of Maryland medical campus with its 5 graduate schools, Camden Yards and M&T Bank stadium are minutes away as well.
Courtesy of: Ben Frederick Realty, Inc. Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 29th July, 2021 12:11 PM
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