Nestled in the heart of Mount Vernon, this charming 6-unit apartment building presents a great opportunity with its well-designed mix of large and small one-bedroom apartments, all with room for rental increases to achieve market rents. For the savvy investor, there’s potential to further enhance cash flow by charging back heating and water costs. The property is designed for minimal upkeep during turnovers, ensuring a hassle-free management experience. Situated within easy reach of Penn Station, popular dining establishments, cultural museums, prestigious universities, eclectic shops, vibrant nightlife, and more. For $116,500 per unit, 926 North Calvert provides an affordable entry point for investing in Baltimore City and the vibrant Mount Vernon neighborhood. The kitchens in these practical apartments feature wood cabinets, laminate countertops, and stainless-steel sinks throughout, with some garbage disposals. Gas ranges vary in sizes: 20″, 24″ and 30″. The interiors have a mix of wood paneling and plaster walls, with ceilings a combination of suspended grid and/or plaster. Living areas feature vinyl plank or laminate flooring, and kitchens offer sturdy options like vinyl plank, laminate, hardwood, or vinyl tile flooring. Four bathrooms have vinyl shower stalls with vinyl enclosures; two bathrooms have steel tubs; one with a vinyl tub surround and one with ceramic tile surround. All bathrooms have modern vanities. For added convenience, coin-operated laundry facilities in the basement simplify the daily routines of tenants. This Mount Vernon apartment investment property has one heating system and one water heater. A gas-fired hot water boiler (1982) serves heating for the building via radiator heat. A 72-gallon, gas-fired water heater (2016) provides hot water to all apartments. With 7 gas meters and 7 electric meters, tenants pay their own gas and electric costs and are responsible for their own window air conditioning units. Water and heat are currently paid by the landlord, but instilling a routine utility bill-back system would significantly increase cash flow. Vinyl replacement windows throughout the building keep utility costs low for tenants. With upgrades as necessary, most observable interior water supply lines are copper, with some C-PVC. Interior drain lines are mostly PVC, with a few staggered steel drains. It comes as no surprise that 926 North Calvert boasts an impressive “Walk Score” of 98 out of 100. Nestled in Mount Vernon, this investment property is strategically located just a few blocks away from Baltimore Penn Station. This Amtrak hub is currently in the midst of a significant redevelopment, poised to remain a powerful economic catalyst for the neighborhood’s ongoing growth and prosperity. Within mere minutes from their doorstep, tenants have the opportunity to immerse themselves in the vibrant cultural scene, with captivating shows at renowned venues such as The Lyric, Center Stage, or The Meyerhoff Symphony Hall. Moreover, the area offers a delectable array of high-end restaurants, enriching museums, and prestigious universities, including the distinguished University of Baltimore School of Law & Maryland Institute College of Arts (MICA).
