7bed/3bath Baltimore Fixer Upper

3 Separate Entrances

*Can be used as Triplex or Single Family*

Buy:  $164,000
ARV: $425,000
Rent: $3,800 - $4,000/mo

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Key Features

🛏️ Legally zoned triplex w/ 3 seperate entrances
🛏️ 2 units are 3 bed/1 bath and one unit is 1 bed/1 bath
🏠 Partially Finished Basement
📏 Total Area: 2650 sqft
🌬 Ductwork for each unit has already been installed

Property Details

This property is a legally zoned triplex consisting of three units: two units with 3 bedrooms and 1 bathroom each, and one unit with 1 bedroom and 1 bathroom. The property is currently unfinished with the basement and requires significant renovations. Ductwork for each unit is already installed, and flooring, and separate meters for utilities are in place. The neighboring property is also being renovated, which could enhance the overall demand. This property can also be used as a single family house, and is up to the investor to determine the highest and best use.

COMPS

3709 Milford Ave, Baltimore, MD 21207
Sold on 06/18/24: $479, 000

3408 W Forest Park Ave, Baltimore, MD 21216
 Sold on 07/11/24 $420,000

2906 Woodland Ave, Baltimore, MD 21215
Sold on 06/26/24 $410,000

5321 Wesley Ave, Baltimore, MD 21207
Sold on 07/12/24 $410,000

Investor Analysis

This property presents an excellent investment opportunity in the vibrant market of Baltimore, MD. Located in a rapidly appreciating neighborhood, this property offers significant potential for both short-term flips and long-term rental income. With the right strategy, investors can capitalize on the growing demand in the area and maximize their returns.

Key Investment Highlights:

• Strong Cash Flow Potential: With a projected monthly rental income of $3,800 to $4,000, this property offers a significant opportunity for steady cash flow. 

• High ARV: The property’s ARV of $425,000 provides a healthy margin above the total investment suggesting a strong potential for appreciation and equity growth.

• Triplex Setup: with separate meters allows for diversified income streams, reducing vacancy risk and improving tenant stability.

• Renovation Scope: With some of the work already done (ductwork, floors and meters in place), the property just needs finishing with still major repairs left in order to reach its full potential.

• Neighborhood Improvements: The neighboring property is also being renovated, which could positively impact property values and attract better tenants.

Investment Strategies:

Flip Potential: High ARV potential with big potential profits after repairs are finished and the property is resold. 

Buy-and-Hold: Steady rental income and long-term appreciation in a strong rental market.

BRRRR Strategy: Ideal for buying, rehabbing, renting, refinancing, and repeating the investment cycle.

Value-Add Investment: Investing in finishing the basement or upgrading certain features in the units could further increase the property’s value and rental income, making it a prime value-add investment.

Conclusion:

Promising investment opportunity with flexible strategies for profit or long-term gains. Strong market demand and prime location make it a valuable addition to any investment portfolio.

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COMPS

3709 Milford Ave, Baltimore, MD 21207
Sold on 06/18/24: $479, 000

3408 W Forest Park Ave, Baltimore, MD 21216
 Sold on 07/11/24 $420,000

2906 Woodland Ave, Baltimore, MD 21215
Sold on 06/26/24 $410,000

5321 Wesley Ave, Baltimore, MD 21207
Sold on 07/12/24 $410,000

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DISCLAIMER:

• All offers are Cash or Private Lender Only.
• Deposits for all properties are non-refundable.
• Properties are sold AS-IS with NO inspection period; Please inspect first.
• Buyer pays all closing costs for buyer and sellers.
• Rehab Estimate, Projected Rent, and ARV are ESTIMATES based upon the analysis and opinion of Citywide Investments, LLC, actual repair cost, rent, and/or ARV may vary. 
• Citywide Investments, LLC is not a licensed contractor or appraiser.
• Taxes, Insurance, and Closing Cost are estimates. Actual cost may vary.
• Seller has an equitable interest in this property and is advertising the sale of this contract as it is assignable.