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$ 499,900
Est. payment /mo
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Pending
216 W Read St #216-218 Baltimore, MD 21201-4884
6 Beds
5 Baths
5,194 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 5,194 sqft
Price per Sqft $96
Bedrooms 6
Full Baths 4
Half Baths 2
Property Description
Mixed-Use 6-Unit Asset | Immediate Income + Upside
Well-located 6-unit mixed-use property featuring 2 commercial storefronts and 4 residential apartments, offering diversified income and a clear value-add component. Current in-place rents total $5,175/month, with one residential unit vacant, providing an immediate opportunity for a new owner to increase cash flow upon lease-up.
The two commercial spaces are established and income-producing, while the residential units offer stable demand and straightforward management. The vacant unit allows a buyer to set market rent from day one, materially improving NOI and overall valuation.
This asset is well-suited for:
Investors seeking current cash flow with upside
Buyers pursuing mixed-use portfolio diversification
Owner-users looking to occupy a unit while offsetting expenses with rental income
Financials support attractive returns at today's financing, and the property underwrites favorably on both cap-rate and cash-on-cash metrics, depending on buyer strategy.
Sold as-is. Rent roll and additional financial details available upon request.
Well-located 6-unit mixed-use property featuring 2 commercial storefronts and 4 residential apartments, offering diversified income and a clear value-add component. Current in-place rents total $5,175/month, with one residential unit vacant, providing an immediate opportunity for a new owner to increase cash flow upon lease-up.
The two commercial spaces are established and income-producing, while the residential units offer stable demand and straightforward management. The vacant unit allows a buyer to set market rent from day one, materially improving NOI and overall valuation.
This asset is well-suited for:
Investors seeking current cash flow with upside
Buyers pursuing mixed-use portfolio diversification
Owner-users looking to occupy a unit while offsetting expenses with rental income
Financials support attractive returns at today's financing, and the property underwrites favorably on both cap-rate and cash-on-cash metrics, depending on buyer strategy.
Sold as-is. Rent roll and additional financial details available upon request.
Location
State MD
County Baltimore (city)
Listed by Mark Novak • Cummings & Co Realtors
NEARBY SCHOOLS & PROPERTIES
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