Listed By:
EXP Realty, LLC
Address
3712 Parkside Drive, Baltimore, MD
Price
$ 450,000
Property Attributes
  • MLS#MDBA2121126
  • TypeMulti-Family
  • CountyBALTIMORE CITY
  • CityBaltimore
  • Zip21206
  • StyleColonial
  • Year Built1920
  • Taxes$ 9785
  • Price$ 450,000
  • Bedrooms7
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.44 Acres
Data Source:
Bright MLS
Property Description

Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 8.57% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investmentPreapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.

Elementary School
Gardenville Elementary School
Price History
4/15/2024 Listed $450,000

General Features

Sewer Public Sewer
Heating Hot Water
Cooling None
Possession Settlement
Zoning R-5
Garage Spaces 2.00
Architectural Style Colonial
Construction Materials Brick,Other
Year Built 1920
Property SubType Other
Tax Year 2024
Percent Ownership Fee Simple
Cool Fuel Electric
Section 01
OwnerPays Common Area Maintenance,Insurance,Water,Taxes - Real Estate,Supplies
Accessibility None
County BALTIMORE CITY
Net Operating Income 38590.00
New Construction No
Property Type Multi-Family
Garage Y/N Yes
Water Access Y/N No
Other Structures Above Grade,Below Grade
Status ACTIVE
Directions Route 1 to Parkside Drive
ModificationTimestamp 2024-05-11T06:42:26
City BALTIMORE
Buyer Agent Compensation 2.5
Total Units 4
Lot Size Square Feet 19176.00
Tax Assessed Value 422200.0
Waterfront Y/N No
Number of Units Leased 5
Street Name PARKSIDE
Tax Annual Amount 9785.0
Property Condition Average
Structure Type Detached
One Bedroom Units Count 4
Price Per Sq Ft 92.48
Acceptable Financing Cash,Bank Portfolio,Other
Vacation Rental Y/N No
Total SQFT 6466
Days on Market 27
Lease Type Month to Month
Standard Status Active
Year Built Source Assessor
Legal Subdivision Ward 27
Tax Lot 005
Total Actual Rent 56880.00
Cap Rate 8.57
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Electric,Natural Gas
Basement Improved,Interior Access,Outside Entrance,Connecting Stairway,Partially Finished,Walkout Stairs
Hot Water Electric,Natural Gas
Total Stories 4
Basement (Y/N) Yes
Heating Y/N Yes
Fireplace Y/N No
Street Suffix DRIVE
Central Air Y/N No
LivingAreaSource Estimated
Three Bedroom Units Count 1

Exterior Features

Pool No Pool
Water Source Public
Total Parking Spaces 7
Garage Features Garage - Front Entry
Type of Parking Off Street,Detached Garage,Driveway
Land Use Code M
Foundation Details Block
Water View Y/N No
Lot Size Acres 0.44
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 86200.00
Navigable Water Y/N No
Water Oriented Y/N No
# of Detached Garage Spaces 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 21206

Price
AVG $310K
$450K
Taxes
AVG $3,958
$9,785
Visits
AVG 203
94
Data Provided by Inside Real Estate®
Year Built
AVG 1933
1920

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