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Listed by Yaakov Kanevsky • Midfield Realty
$1,700,000
0.31 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Rent
MLS Listing ID MDBA2227840
Year Built 1935
Lot Size 0.311 Acres
Acres 0.31
Property Sub-Type Other
Source BRIGHT
Property Description
PROPERTY HIGHLIGHTS
Subject to Offer. 3612 Eldorado Avenue is an 18-unit, three-story apartment building totaling approximately 17,673 SF in Baltimore's Howard Park neighborhood. The property is currently vacant and nearly rent-ready, giving a buyer the opportunity to lease the entire building with a new tenant base. The unit mix includes one-, two-, three-, and four-bedroom apartments. Amenities include private balconies, a resident courtyard, shared laundry, seven garages, and direct stair access to the roof.
INCOME POTENTIAL
Estimated pro forma rents are $1,250 for one-bedroom, $1,500 for two-bedroom, $1,750 for three-bedroom, and $2,100 for four-bedroom units.
Based on an estimated mix of 9 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 1 four-bedroom, the property could generate approximately $25,850/month or $310,200/year in gross residential rent. This excludes additional income potential from the seven garages and shared laundry.
LOCATION & ACCESS
Located directly across Eldorado Avenue from Forest Park High School. ShopRite of Howard Park and Coppin State University are nearby. Public transportation is available at Liberty Heights Avenue & Eldorado Avenue, served by MTA CityLink LIME and LocalLink 34.
FIVE KEY HIGHLIGHTS
18 Units | Nearly Rent-Ready
Seven Income-Producing Garage Spaces
Balconies, Courtyard & Shared Laundry
Directly Across Forest Park High
CityLink LIME & LocalLink 34
Subject to Offer. 3612 Eldorado Avenue is an 18-unit, three-story apartment building totaling approximately 17,673 SF in Baltimore's Howard Park neighborhood. The property is currently vacant and nearly rent-ready, giving a buyer the opportunity to lease the entire building with a new tenant base. The unit mix includes one-, two-, three-, and four-bedroom apartments. Amenities include private balconies, a resident courtyard, shared laundry, seven garages, and direct stair access to the roof.
INCOME POTENTIAL
Estimated pro forma rents are $1,250 for one-bedroom, $1,500 for two-bedroom, $1,750 for three-bedroom, and $2,100 for four-bedroom units.
Based on an estimated mix of 9 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 1 four-bedroom, the property could generate approximately $25,850/month or $310,200/year in gross residential rent. This excludes additional income potential from the seven garages and shared laundry.
LOCATION & ACCESS
Located directly across Eldorado Avenue from Forest Park High School. ShopRite of Howard Park and Coppin State University are nearby. Public transportation is available at Liberty Heights Avenue & Eldorado Avenue, served by MTA CityLink LIME and LocalLink 34.
FIVE KEY HIGHLIGHTS
18 Units | Nearly Rent-Ready
Seven Income-Producing Garage Spaces
Balconies, Courtyard & Shared Laundry
Directly Across Forest Park High
CityLink LIME & LocalLink 34
Location
State MD
County Baltimore City
Zoning R-4
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 9.0
Water Access N
Accessibility Other
Total Parking Spaces 9
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0328028248 005
Ownership Other
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