Address
5447 Park Heights Avenue, Baltimore, MD
Price
$ 1,050,000
Property Attributes
- MLS#MDBA2114854
- TypeCommercial
- CountyBALTIMORE CITY
- CityBaltimore
- Zip21215
- StyleApartment Building,Flex,Hair Salon and Spa,/Genera
- Year Built1926
- Taxes$ 6266
- Price$ 1,050,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage4218
- Lot Size10,454 SqFt
Data Source:
Bright MLS
Property Description
Must Sell! Appraised at $1.2M - $150,000 Discount! $126,000 Gross Income generating a 7.49% Cap Rate. Three Parcel C-2 Commercial, all-brick 12,354 sq. ft. building sitting on a 0.23-acre corner lot. Five Commercial/Retail tenants on the ground floor with additional residential units on the second floor. Retail Tenants include: Tax Preparation Service, Hair Salon, Driving School, Paparazzi African Grill & a Shipping Company. Residential Units: 5447 Park Heights has three 2BD 2BA apartments, 5451 Park Heights has a studio apartment and 3 rooming units, and 5455 Park Heights also has a studio apartment and 3 rooming units. Commercial units are impressive with 110 ft deep lots, a front 10-car parking lot for customers, and rear garage entrances for the commercial tenants. The seller has invested $100,000 into improvements but a large value-add opportunity exists to increase rent, equity, and cash flow! With proper improvements, management, and tenant makeup, the rent roll could be significantly increased very quickly. C2 Zoning would allow reconfiguration of rooming units into standard apartments if desired. Located in a prime corner location in fast-developing Park Heights. The attractive mix of neighborhood retail in a dense and high-traffic area and affordable residences make this property nearly recession-proof and a solid income earner for your portfolio. Dont miss out. Contact us for more info today!
| Price History | |
|---|---|
| 2/21/2024 | Listed $1,050,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Cooling | None |
| Possession | Settlement |
| Zoning | C-2 |
| Construction Materials | Brick |
| Year Built | 1926 |
| Property SubType | Mixed Use |
| Tax Year | 2024 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Business Type | Apartment Building,Flex,Hair Salon and Spa,Other/General Retail,Restaurant/Bar |
| Accessibility | 2+ Access Exits |
| County | BALTIMORE CITY |
| New Construction | No |
| Property Type | Commercial Sale |
| Water Access Y/N | No |
| Property Use | Investment |
| Status | ACTIVE |
| Directions | GPS |
| ModificationTimestamp | 2024-05-11T06:56:00 |
| City | BALTIMORE |
| Buyer Agent Compensation | 2.5 |
| Total Units | 3 |
| Lot Size Square Feet | 10454.00 |
| Tax Assessed Value | 265500.0 |
| Waterfront Y/N | No |
| Street Name | PARK HEIGHTS |
| Tax Annual Amount | 6266.0 |
| Property Condition | Good |
| Price Per Sq Ft | 84.99 |
| Acceptable Financing | Conventional |
| Vacation Rental Y/N | No |
| Days on Market | 81 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | Ward 27 |
| Tax Lot | 019 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Hot Water | Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking Spaces | 10 |
| Type of Parking | Parking Lot |
| Land Use Code | C |
| Water View Y/N | No |
| Building Area Total | 12354.00 |
| Lot Size Acres | 0.24 |
| Lot Size Units | Square Feet |
| Lot Size Source | Estimated |
| Land Assessed Value | 25600.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Car Parking Spaces | 10 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 21215
Price
Taxes
Visits
Year Built
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