1712 Madison Avenue

Baltimore MD 21217

2520 sq. ft.

Other

Currently for sale - view listing

Overview

Great 6 unit building one block from Bolton Hill with a ton of upside potential. 3 out of 6 units were fully renovated in 2023. An estimated solid 8% + cap rate property. All plumbing and electrical was updated in 2008, gas fed forced air units replaced within the last few years. Great unit mix; (2) 2 bedrooms, (1) 1 efficiency, and (3) 1-bedroom units. With separate meters the tenants pay all their own utilities, which makes this a great income generating property for the owner. 3 of the 6 units are currently on month-to-month leases. Recently enhanced units and common areas but there still room to improve. Possibility to increase property value/income by adding laundry and/or storage areas to the basement. Walking distance to Maryland Institute College of Art (MICA), one of the country's premier art schools, with an enrollment of 3,500. Other Nearby Colleges: University of Baltimore, Johns Hopkins University, Coppin State University, Baltimore City Community College. Nearby Development Projects: Madison Park North ($120M mixed-use redevelopment), Penn Station. ($90M mixed-use redevelopment) Being sold as is.