Opportunity to own a well maintained Lead-Free (limited) prominent corner building in an up-and-coming neighborhood. Totally gut rehabbed in 1992. New roof in 2014. 5 of 7 HVAC systems are new. All kitchens & baths updated. Bright, spacious apartments; some with exposed brick walls, vaulted ceilings and loft areas. Rear decks add outdoor space. 2 units have in-suite washer-dryer. separate heat pumps with central air conditioning. Separate water heaters mean tenants pay all utilities. Front restaurant has 2 baths and a full commercial kitchen with walk-in box, rear bar has 2 baths and a full service bar. Landlord controls the 7-day BWL license with live entertainment authorized, adding more value to this asset. The current restaurant/bar tenant has a long-term lease through 2021 with a 5-year renewal option. MICA (Maryland Institute College of Art ~ the third highest rated art school in the country) is expanding and growing in this market. 2 blocks from the newly renovated Motor House, ~Artists and Craftsman~ store, The newly restored Parkway Theater, the mixed use ~Center Theater~, and a short 5 block walk to Penn Station with AMTRAK service to New York and MARC Commuter Rail service to BWI airport and Washington DC. 8.9% Cap Rate!
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Listing Courtesy ofBen Frederick Realty, Inc.