3712 PARKSIDE DR, Baltimore, MD 21206 - MLS#MDBA2121126

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Doug Strickland

doug@residentialguru.com +1(610) 724-3801

$425,000

Est. payment - /mo

5,866 SqFt

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UPDATED:

11/10/2024 03:52 PM

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Pending

Purchase Type For Sale

Square Footage 5,866 sqft

Price per Sqft $72

MLS Listing ID MDBA2121126

Style Colonial

Abv Grd Liv Area 4,866

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $9,785

Tax Year 2024

Lot Size 0.440 Acres

Acres 0.44

Property Description

Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 9.08% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investment—Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.

Location

State MD

County Baltimore City

Zoning R-5

Rooms

Basement Improved, Interior Access, Outside Entrance, Connecting Stairway, Partially Finished, Walkout Stairs

Interior

Hot Water Electric, Natural Gas

Heating Hot Water

Cooling None

Fireplace N

Heat Source Electric, Natural Gas

Exterior

Garage Garage - Front Entry

Garage Spaces 7.0

Waterfront N

Water Access N

Accessibility None

Parking Type Off Street, Detached Garage, Driveway

Total Parking Spaces 7

Garage Y

Building

Foundation Block

Sewer Public Sewer

Water Public

Architectural Style Colonial

Additional Building Above Grade, Below Grade

New Construction N

Schools

Elementary Schools Gardenville

School District Baltimore City Public Schools

Others

Tax ID 0327015898F005

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Bank Portfolio, Other

Listing Terms Cash, Bank Portfolio, Other

Financing Cash,Bank Portfolio,Other

Special Listing Condition Standard

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Listed by Gregory A Cullison Jr. • EXP Realty, LLC

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Doug Strickland

+1(610) 724-3801

Agent | License ID: RS275319

Agent License ID: RS275319

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