1400-1402 MADISON AVE Active Save Request In-Person Tour Request Virtual Tour
Baltimore,MD 21217
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,168 sqft
Price per Sqft $205
MLS Listing ID MDBA2127228
Year Built 1920
Annual Tax Amount $7,742
Tax Year 2024
Property Description
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.
Location
State MD
County Baltimore City
Zoning R-7
Interior
Hot Water Natural Gas
Heating Radiator
Cooling Other,Window Unit(s)
Flooring Other,Heated
Exterior
Garage Spaces 4.0
Waterfront N
Water Access N
Roof Type Rubber
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Acceptable Financing Cash,Conventional,Private,Negotiable
Listing Terms Cash,Conventional,Private,Negotiable
Special Listing Condition Standard