773 WASHINGTON BLVD Pending Save Request In-Person Tour Request Virtual Tour
Baltimore,MD 21230
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,160 sqft
Price per Sqft $219
Subdivision Washington Village
MLS Listing ID MDBA2111668
Style Colonial
Year Built 1900
Annual Tax Amount $2,381
Tax Year 2023
Lot Size 3,300 Sqft
Property Description
Must see pictures and separate 3-D walkthrough layout virtual tour! Property is actually 2 adjoining buildings 773-775 Washington Blvd. Both included in sale totaling (6) 1-br apartments, 2 retail store-front commercial spaces with C-1 zoning offering a huge variety of commercial retail business uses. And garage rented to long term upholstery company who would like to stay. Garage also has development rights to add 4 more residential units. Amazing building on picturesque classic tree-lined downtown Baltimore Street with brick sidewalks - Fully renovated inside and out mixed-use building. As I said, see the pictures, new everything inside from kitchens to bathrooms, windows, doors, separately controlled heat and a/c in each unit, flooring, paint, appliances including washer/dryer in each unit. All separately metered perfectly turnkey. Property is walking distance to restaurants, shopping, Inner Harbor, parks, all the downtown amenities, plus 1 block from I-95, 3 minutes to 295 - just a perfect location for any tenant and surrounded by lots of successful retail shops, curb appeal impeccable. This building will fill up fast and make for an amazing addition to any portfolio. Proforma available documenting 10% cap rate. But this location is really where the investment shows off. It is the 1st block of non high-rise commercial after downtown. Hospitals walking distance, so many employers, the new inner harbor development plan and all the jobs Baltimore is adding makes this the perfect investment at a price that gives a great cap rate. This is the one you have been waiting for!!!
And on top of it all, written confirmation for additional development is already in hand, so could be 10 residential units and 2 commercial retail store fronts. But even just keeping it as its current set up, with it being completely turn-key and without even developing the garage into units, this is already the goose that lays golden eggs. Come see it today!
Seller will deliver building fully rented, including the commercial spaces, at the rents listed in the pro forma ($12,800), if buyer desires. They only kept it vacant to allow new owner to select their own tenants if they prefer, but seller is in the rental business and easily believes they will get the units rented at those prices, or higher.
Location
State MD
County Baltimore City
Zoning C-1
Interior
Hot Water Electric
Heating Hot Water
Cooling Central A/C,Ceiling Fan(s)
Exterior
Water Access N
Roof Type Rubber
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Special Listing Condition Standard