Baltimore, MD 21218,2203 N CHARLES ST
See all 29 photos
Baltimore, MD 21218,2203 N CHARLES ST
Baltimore, MD 21218,2203 N CHARLES ST
Baltimore, MD 21218,2203 N CHARLES ST
Baltimore, MD 21218,2203 N CHARLES ST

$346,000

Est. payment /mo

$349,000

0.9%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

2203 N CHARLES ST Baltimore, MD 21218

2,268 SqFt

SOLD DATE : 11/17/2023

Key Details

Sold Price $346,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 2,268 sqft

Price per Sqft $152

Subdivision Old Goucher

MLS Listing ID MDBA2100486

Sold Date 11/17/23

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $5,350

Tax Year 2023

Lot Size 1,638 Sqft

Acres 0.04

Lot Dimensions 18' x 93'5\"

Property Description

Price Improved! Welcome to 2203 North Charles Street, nestled in the growing neighborhood of Old Goucher. With a staggering 95% renter population, this area presents an excellent opportunity for investors. Positioned on Charles Street, the bustling main thoroughfare of north central Baltimore City, this property enjoys a constant stream of daytime foot traffic. Whether you’re seeking commercial or residential spaces, renting out these units is a breeze, making it an exceptional investment choice.
Each space has its own separate electric heat pump and central air conditioning system, ensuring year-round comfort for tenants.

The third floor apartment features a galley kitchen with wood cabinets, laminate countertops, and a 30″ electric range. The bathroom has a modern vanity and a fiberglass tub. With sturdy finishes and easy-to-clean vinyl floors, this apartment is easy to lease and quick to turn over.

The second floor apartment features an upgraded full kitchen complete with wood cabinets, ample formica countertop space, a 30″ electric range, built-in microwave, and a dishwasher. The spacious living room has three large windows, bathing the room in natural light, and recessed lighting adds a touch of elegance. Fully equipped with in-suite laundry, this apartment has it all for today’s modern tenant.

The first floor beauty boutique has charming exposed brick walls and lofty ceilings. Its allure is further enhanced by a floor-to-ceiling storefront window, inviting passersby to explore within. The boutique encompasses a spacious customer area, two small offices for business operations, and a convenient half bathroom.

The ground floor pharmacy space is occupied by a long-term tenant. Welcoming customers with a front lobby area, the space also has a storage area and a half bathroom, ensuring functionality for daily operations.

Each unit has its own heating and air conditioning systems. The building is served by one gas meter, which fires the 40-gallon water heater; and five electric meters, with 150 amps to each unit.

2203 North Charles Street has vinyl replacement windows throughout. Observable water supply pipes are copper and c-pvc, with a steel main; observable drain lines are pvc.

Tenants pay for their own electric usage. The landlord pays for water, sewer, and public service gas and electric. Currently the first floor commercial tenant reimburses for a portion of the public service utilities; a savvy landlord could increase cash flow by implementing a total utility reimbursement.
Located in the Old Goucher neighborhood, this investment property benefits from its strategic location between the ever-growing neighborhoods of Charles Village and Mount Vernon. With a high percentage of renters in the area, a steady tenant pool is readily available, ensuring minimal vacancy periods and a robust rental market.

The neighborhood has attracted numerous entrepreneurs, resulting in a thriving culinary scene. Local favorites such as Dutch Courage, WC Harlans’, and the Church Bar are just a stone’s throw away, offering residents and tenants a diverse range of dining and entertainment options. Moreover, the property’s central location in Baltimore provides easy access to downtown and points north via I-83, making commuting a breeze.

2203 North Charles earns the designation “Walker’s Paradise” with a Walk Score of 94, a Transit Score of 83, and a Bike Score of 85.

$349,000

$87,250 Per Unit

$154 Per Sq. Ft.

7.3 Times Actual Rents (GRM)

6.3 Times Market Rents (GRM)

10.08% Cap Rate

13.4% Projected Cash-on-Cash Return

Location

State MD

County Baltimore City

Zoning C-1

Interior

Hot Water Natural Gas

Heating Heat Pump(s)

Cooling Central A/C

Heat Source Electric

Exterior

Water Access N

Roof Type Flat,Rubber

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0312083819 002

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Exchange, Other, Private

Listing Terms Cash, Exchange, Other, Private

Financing Cash,Exchange,Other,Private

Special Listing Condition Standard

Read Less

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Bright MLS (BMLS)
Listed by Thomas H Fair • Ben Frederick Realty, Inc.
Bought with Tsegaye G Tadesse • Long & Foster Real Estate, Inc.

Travis Gray

Advisor | License ID: 636268

+1(301) 641-0809

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.