1400-1402 Madison Ave - Apartments FOR SALE


Baltimore, MD 21217- Madison Park
$650,000 USD
443-414-3338
1400-1402 Madison Ave, Baltimore, MD for Sale
$650,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

1400-1402 Madison Ave
Baltimore, MD 21217
Madison Park


OVERVIEW

Located on an oversized corner lot between Upton and Bolton Hill, this 4200+ SQFT 7-unit apartment complex features 5 updated 1 BD / 1 BA units, 1 updated 2 BD / 1 BA unit, and 1 1 BD / 1 BA unit to be turned over (est 20k). Two of the 1 BD / 1 BA units have dedicated entrances with one ADA. Separately metered. Owner responsible for common area electric, water and trash. Professionally managed at 10% with ABLE Capital. Gross scheduled $87,000. Annual trash $4400. Annual insurance $4600. Water avg $250/mo. Garage month-to-month at $200, can be conveyed vacant. Current ownership is in the process of turning over building which presents a unique opportunity for an incoming buyer to add value, stabilize the property, and determine tenancy. Both third floor units rented to long-term tenants for $1,050 and $1,100 respectively. Remaining 5 units have been vacated.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$155 USD /SF

# OF UNITS

7

PRICE/UNIT

$92,857

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

8

APN/PARCEL ID

0378-001

ASK ABOUT THIS PROPERTY

Ron HowardRon Howard Associates RE/MAX AdvantageMore Info
443-414-3338

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Ron HowardRon Howard Associates RE/MAX AdvantageMore Info
443-414-3338

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.