2420 Greenmount Ave, Baltimore, MD 21218

Property Description

Great opportunity to purchase a mixed-use building in the desirable Barclay neighborhood of Baltimore City. This 4-unit property consists of 3 residential units and 1 commercial unit and offers strong value-add potential. Two units are currently rented, generating a Gross Annual Base Rent of $17,220, with a Potential Gross Annual Base Rent of $55,200 when fully occupied at market rents. Unit 1 is a main-level residential unit featuring 1 bedroom, 1 bathroom, bonus room, living area, and kitchen, with access to the backyard. Scheduled rent is $850/month, and per seller, the tenant is current. Unit 2 is an upper-level residential unit. Unit 3 is a commercial barber shop on the main level with open space and a half bath, rented at $585/month, with a long-term tenant in place for approximately 20 years (per seller). Unit 4 is an upper-level residential unit with 1 bedroom, 1 bathroom, living area, dining area, and kitchen, currently vacant. The unfinished lower level provides ample storage and houses a gas hot water heater, gas meter, 5 electric meters, and 3 electric panels. All tenants pay their own BGE, and each unit has baseboard heat (per seller). Property is Limited Lead Free and zoned C-1. Expenses: Owner pays water, insurance, property taxes, and repairs as needed. Ideal opportunity for investors or owner-occupants seeking cash flow with significant upside.