High cash generating 6-unit property -- 5-unit apartment complex plus single family home in Glen Burnie. Great location off B and A Blvd, close to both Hwys 10 and 100. Big rental demand area. Lead free. Coin-operated laundry facility on site. 5 of the 6 units have been fully renovated, including flooring, lighting, painting, heating/cooling, etc. One 3 bedroom, four 1 bedrooms, and one efficiency. Solid, long-term tenants with good security deposits. The main building was recently upgraded with individual electrical meters to each unit and a brand new roof, exterior painting, landscaping, and mailbox cluster. The small single family home has a car port. Property generates ~$75k+ per year in gross rental income! Never a vacancy, huge demand area for these types of units. Considering all expenses, at $885k purchase price this represents a ~7% cap rate investment. There is additional upside in rents as well. With all the upgrades, this is an easy property to manage.
MLS#: MDAA424168 Price: $885,000
Year Built: 1949
County: ANNE ARUNDEL Subdivision: Sumac Fields Tax Fee: 4736.0