3712 Parkside Drive Baltimore, MD 21206
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyBaltimore City
- Taxes$9,785
- HOA/Condo/Coop Fees$0
- Days on Site53 Days
- MLS StatusActive Under Contract
- MLS ID NumberMDBA2121126
- Home Size Source Estimated
- Year Built1920
- Lot Size0.44 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Colonial
- Construction BrickOther
- Parking Off StreetDetached GarageDriveway
- Sewer Public Sewer
- Basement ImprovedInterior AccessOutside EntranceConnecting StairwayPartially FinishedWalkout Stairs
- Number of Stories 4
- Acreage 0.44
- Water Public
- Garage Spaces 2
- Attached Garage No
- Foundation Block
- Zoning R-5
Interior Features
- Cooling NoneElectric
- Heating Hot WaterElectricNatural Gas
- Fireplace No
Exterior Features
- Spa No
- Waterfront Property No