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2617 E Fayette Street

BALTIMORE, MD 21224
  • $540,000
  • STATUS: Active
  • ON SITE: 32 Days
  • ID#: MDBA2117766
Price Reduced
$540,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,746
    SQFT
  • $114
    $/SQFT
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

Description

Don't miss out on this amazing opportunity with an assumable FHA loan at 3.24% with a monthly payment of $2198! The property consists of three row homes 2615, 2617, & 2619 E Fayette St. The units at 2615 & 2617 E Fayette are combined where 2615 is the entire top floor of both units, and 2617 is the bottom floor of both units. Building 2615 is a 3 Bedroom 2 Bath apartment with full kitchen and living space, currently vacant and ready to rent. Building 2617 was previously used as commercial space, and has 2 adjoining bedrooms/offices, 1 bathroom, a full kitchen, and a large open space. So, there is plenty of opportunity to reconfigure as needed for either commercial or residential use, could possibly be divided into two spaces, it is currently vacant. Building 2619 is a 4 bedroom 2 bathroom row home with a standard configuration, and this unit is rented for $1850/month and the lease is month to month. The roof across all three buildings were done 2 years ago, the furnace in 2619 replaced 2 years ago, the furnace in 2615 is 4 years old, new windows were installed in the basement. The sewer line for 2617 was replaced this year and the lines for 2615 have been updated to PVC within the last few years. There is 1 electric meter for all three units and 1 water bill for all three, 2617 has a separate gas meter but 2615 & 2619 share 1 gas meter. Rents could easily be attained between $1800 - $2000 per unit or more, there is a huge potential for a 9%+ Cap rate. The listing price is less than $200K/building, which is a great value for the area. Zoned C-1, Buyer to verify potential use. Schedule your tour today!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-19T23:57:05.593.
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2617 E Fayette Street BALTIMORE, MD 21224

  • Price: $540,000
  • Status: Active
  • On Site: 32 Days
  • ID#: MDBA2117766
0
Beds
0
Baths
0
½ Baths
0.07
Acres
4,746
SQFT
$114
$/SQFT
1900
Built
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
Don't miss out on this amazing opportunity with an assumable FHA loan at 3.24% with a monthly payment of $2198! The property consists of three row homes 2615, 2617, & 2619 E Fayette St. The units at 2615 & 2617 E Fayette are combined where 2615 is the entire top floor of both units, and 2617 is the bottom floor of both units. Building 2615 is a 3 Bedroom 2 Bath apartment with full kitchen and living space, currently vacant and ready to rent. Building 2617 was previously used as commercial space, and has 2 adjoining bedrooms/offices, 1 bathroom, a full kitchen, and a large open space. So, there is plenty of opportunity to reconfigure as needed for either commercial or residential use, could possibly be divided into two spaces, it is currently vacant. Building 2619 is a 4 bedroom 2 bathroom row home with a standard configuration, and this unit is rented for $1850/month and the lease is month to month. The roof across all three buildings were done 2 years ago, the furnace in 2619 replaced 2 years ago, the furnace in 2615 is 4 years old, new windows were installed in the basement. The sewer line for 2617 was replaced this year and the lines for 2615 have been updated to PVC within the last few years. There is 1 electric meter for all three units and 1 water bill for all three, 2617 has a separate gas meter but 2615 & 2619 share 1 gas meter. Rents could easily be attained between $1800 - $2000 per unit or more, there is a huge potential for a 9%+ Cap rate. The listing price is less than $200K/building, which is a great value for the area. Zoned C-1, Buyer to verify potential use. Schedule your tour today!
Exterior Features

Architectural Style Federal Construction Materials Brick Garage YN No Parking Types On Street Pool No Pool Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 4746 Basement Unfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 2016 Cooling Central A/C Fireplace YN No Heating Forced Air Heating YN Yes Single Room Units 0 Three Bedroom Units 2 Two Bedroom Units 1

Property Features

Accessibility Features Other Central Air YN Yes Cooling Fuel Electric Existing Lease Type GrossYearly Foundation Details Brick/Mortar Ground Rent Payment Frequency Semi-Annually Heating Fuel Natural Gas Hot Water Natural Gas Municipality Baltimore City Navigable Water YN N Net Operating Income 56013.00 New Construction YN No Number Of Units Leased 2 Number Of Units Total 3 Number Of Units Vacant 2 Operating Expense 11187.00 Original MLSNumber 802923947518 Owner Pays All Utilities Ownership Interest Ground Rent Property Sub Type Triplex Sale Type Standard Sewer Public Sewer Structure Design Type End of Row/Townhouse Tax Annual Amount 3704.00 Vacation Rental YN No Water Source Public Zoning C-1

Listing courtesy of EXIT On The Harbor Realty: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-19T23:57:05.593.
 
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