2654 MARYLAND AVE Baltimore, MD 21218
UPDATED:
09/20/2024 02:18 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $152
Subdivision Charles Village
MLS Listing ID MDBA2122162
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $8,235
Tax Year 2023
Lot Size 1,275 Sqft
Acres 0.03
Lot Dimensions 15' x 85'
Property Description
> Long Term NNN Commercial Tenant Leased Through Spring 2027, Paying 20% Toward Property Taxes & Hazard Insurance, Improving Cash Flow
> 3,600 Sq. Ft. End-of-Group Rowhome, Providing Tenants With 60% More Space Than Other Homes On the Same Block
> Opportunity to Improve Apartments and Greatly Increase Rents. The first-floor salon has great far-corner exposure on both Maryland Avenue and 27th Street, with two large storefront windows. The salon has both hardwood and laminate flooring throughout, with high ceilings and recessed lighting. Locally owned and operated, the salon has two popular stylists offering services, with two hair drying stations and a shampoo bowl. The tenant has made warm, inviting improvements to the space.
The second and third floor each house a 3-bedroom apartment, with similar layouts to one another. Accessed by a shared entry on 27th Street, each apartment spans an entire floor. As an end-of-group row home, each apartment has 12 windows, providing lots of natural light. With a formal living/dining room and three large bedrooms, these apartments boast plenty of living space for tenants to enjoy. Kitchens feature wood and melamine cabinets, laminate counters, 30″ gas ranges, stainless steel sinks, and garbage disposals. Bedrooms are generously sized, and full bathrooms have modern vanities and 5′ tubs. The commercial tenant is on a triple net lease (NNN) and responsible for 20% of the property taxes, owner’s hazard insurance policy, and water/sewer bill. Each tenant pays their own gas and electric bill, and each tenant controls their own heating and air conditioning. The landlord is currently paying for water for the apartments, but the leases do provide for a bill-back, which would increase cash flow.
Each apartment has its own gas-fired furnace with central air conditioning. One gas-fired water heater serves the entire building, installed in 2018. Interior plumbing supply lines are a mix of copper and CPVC; interior plumbing drain lines are PVC. The partial, unfinished basement is used for storage, has an operable full bathroom and is leased for $525/month. This mixed-use 3-unit in Charles Village is located just three blocks south of Johns Hopkins University Homewood campus, and two blocks south of Wyman Park Dell. Tenants enjoy a quick walk to the Charles Village Shopping District, and I-83 provides a quick commute to downtown Baltimore. 2653 Maryland Avenue garners a “Walker’s Paradise” designation, with a 94 Walk Score, a 76 Transit Score, and an 88 Bike Score, being located along the Maryland Avenue Cycle Track. RHouse, Remington’s trendy food hall, is home to popular stalls like BRD and Hilo Poké & Sushi, and is within a 5-minute walk.
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Inclusions 2 refrigerators; 2 30" gas ranges
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Roof Type Rubber
Accessibility None
Garage N
Building
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0312033638 025
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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