About 2511 Maryland Ave
Best and final offer due date: Thursday, August 14th by noon.
Current annual rental income from apartments 1 and 2 combined is $35,880. If the 3rd floor apartment (currently and intentionally vacant for a potential owner-occupant) were to be rented at $1295/month, annual rental income for all 3 units would be $51,420. Two nearby properties (without AC and on radiator heat) with gross rental incomes of $45K/yr and $50K/yr recently sold for $519K and $575K, respectively.
Apartments separately metered. Apartment 1 is leased through May 31st, 2026 and and Apartment 2 is leased through April 30th, 2026.
Immaculately maintained and recently renovated triplex in Charles Village. Located on a quiet street thanks to the Maryland Ave bike path, it's a quick walk or bike ride to Johns Hopkins University, Wyman Park, the Baltimore Museum of Art, Remington and Hampden or jump on your bike and take the Maryland Ave bike path downtown.
The 1st floor is a 2 bedroom apartment currently rented for $1495. Tenants pay all utilities, separately metered (except for cold water).
The 2nd floor is a 2 bedroom apartment currently rented for $1495. Tenants pay all utilities, separately metered (except for cold water).
Current annual rental income from apartments 1 and 2 combined is $35,880. If the 3rd floor were to be rented at $1295/month, annual rental income for all 3 units would be $51,420.
The 3nd floor is a 1 bedroom penthouse apartment with a huge bedroom filled with naturally light and has been left vacant in case you want to live there (or need to live there for financing). It usually rents for about $200 less than the 2 bedroom apartments so if it were to be rented, $1295/month is a reasonable estimate.
Additionally, the neighboring properties to the left and right both have basement apartments so there is the potential to convert the basement into a 4th apartment.
Listing price is slightly below the average of recent comparable triplex sales in the area. See listing documents for the pre-listing inspection report that shows the property is in good condition.
