2129 N Charles Street

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Address: 2129 N Charles St, Baltimore, MD 21218, USA

Washington DC + 2-4 Units

Created date: July 5, 2024

Date last updated: September 3, 2024

STRONG RENTAL DEMAND
The Property’s location in Charles North attracts a diverse range of prospective tenants. Its location in the thriving, renter-heavy (93% renters) neighborhood ensures high occupancy and renter demand, as exemplified by the current rent roll.
DIVERSIFICATION & RISK MITIGATION
This mixed-use property offers investors diversification and long-term security. Approximately 59% of the Property’s revenues are commercial, while 41% are from the residential unit. The commercial spaces are on longer-term leases, allowing for security and credit in the short and medium term.
CAPITAL APPRECIATION IN A GROWING MARKET
New ownership will benefit from long-term capital appreciation. The $90 million redevelopment of Penn Station is just seven blocks south, a straight shot down Charles Street from the Property, providing connectivity to the residents and economic investment to ownership.

Property Description

THE OPPORTUNITY 2129 N. Charles Street is a mixed-use asset comprised of two commercial units, and one large two-story residential unit with three bedrooms and two bathrooms. The duplex apartment can easily be converted into two units. Located in Charles North, the asset is 100% occupied and stabilized with three brand new leases in place with long-time tenants, giving new ownership the opportunity to benefit from the strong in-place cash flow with the asset being offered at a 9.28%-year one cap rate.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	2-4 Units
No. of Units:	3
Year Built:	1900
Lot Size:	0.06 Sq ft
Opportunity Zone:	No
Property Website	Click Here