3712 PARKSIDE DR Under Contract Save Request In-Person Tour Request Virtual Tour
Baltimore,MD 21206
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Under Contract
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