About 2129 N Charles St
2129 N. Charles Street is a mixed-use asset comprised of two commercial units, and one large two-story residential unit with three bedrooms and two bathrooms. The duplex apartment can easily be converted into two units. Located in Charles North, the asset is 100% occupied and stabilized with three brand new leases in place with long-time tenants, giving new ownership the opportunity to benefit from the strong in-place cash flow with the asset being offered at a 8.3% year one cap rate and 6.98 gross rent multiplier (GRM). The Property’s location in Charles North attracts a diverse range of prospective tenants. Its location in the thriving, renter-heavy (93% renters) neighborhood ensures high occupancy and renter demand, as exemplified by the current rent roll. This mixed-use property offers investors diversification and long-term security. Approximately 59% of the Property’s revenues are commercial, while 41% are from the residential unit. The commercial spaces are on longer-term leases, allowing for security and credit in the short and medium term.
Features of 2129 N Charles St
MLS® # | MDBA2120088 |
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Price | $500,000 |
Bathrooms | 0.00 |
Square Footage | 3,852 |
Acres | 0.06 |
Year Built | 1900 |
Type | Commercial Sale |
Sub-Type | Mixed Use |
Status | Active |
Community Information
Address | 2129 N Charles St |
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City | BALTIMORE |
County | BALTIMORE CITY-MD |
State | MD |
Zip Code | 21218 |
Amenities
Is Waterfront | No |
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Interior
Heating | Central |
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Cooling | Central A/C |
Has Basement | No |
Fireplace | No |
# of Stories | 4 |
Exterior
Exterior | Brick and Siding |
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Foundation | Brick/Mortar |
School Information
District | BALTIMORE CITY PUBLIC SCHOOLS |
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Additional Information
Date Listed | April 3rd, 2024 |
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Days on Market | 32 |
Zoning | C-1 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Listing Agent | Ari Firoozabadi |
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Listing Office | Greysteel Company LLC |
Listing Office Phone | 2022802722 |