Enter the Charles Village rental property market at an affordable entry point with this 3-unit building. These one-bedroom apartments are easy to manage, separately metered, and well-maintained. 2740 Calvert also presents the opportunity for an owner-occupant investor to live in one apartment and rent the others.
Kitchens feature upgraded stainless steel appliances and sturdy finishes in laminate countertops and cabinets. Two of the units have dishwashers, making clean up easy and convenient for tenants. Some of the bathrooms have been modernized with ceramic tile floors and tub enclosures, and modern vanities. Hardwood floors run throughout the living areas and bedrooms. Tenants enjoy use of the front porch and fenced backyard.
Each apartment is separately metered for gas and electric. Public service utilities, including those for hot water, heat, laundry, public electric, and cold water/sewer, are passed through to the tenantsan ideal setup that saves money for the landlord and gives the tenants a sense of responsibility for their utility consumption.
Full-sized clothes washer and dryer are available to all in the common area of the first floor lobby.
2740 Calvert has 200-amp electric service, and four electric meters. There are four gas meters. The water main is copper, and observable water supply lines are a mix of copper, c-pvc and steel. All apartment windows have been upgraded to double-pane, double-hung vinyl replacement windows. The property utilizes a Weil-McLain steam boiler for heat, and a 50-gallon AO Smith water heater.
Tenants can walk to the Charles Village Shopping District, Johns Hopkins University Homewood Campus and Wyman Park. Just one block west is the Hopkins Shuttle Stop, providing an easy commute to Hopkins other Baltimore campuses. 2740 N Calvert St earns the designation Walkers Paradise with a WalkScore of 91, and a TransitScore of 58. This block is patrolled by Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
Apt 1 Rent = $950
Apt 2 Rent = $1,150
Apt 3 vacant
$395,000 Investment Offering
$131,667 Per Unit
$171 Per Sq. Ft.
14.6 Times Actual Rent (GRM)
9.6 Times Market Rents (GRM)
7.14% Cap Rate
10.3% Projected Cash-on-Cash Return