$995,000
823 PARK AVE Baltimore, MD 21201
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$995,000
Est. payment /mo
9,900 SqFt
UPDATED:
11/07/2024 04:10 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 9,900 sqft
Price per Sqft $100
MLS Listing ID MDBA2143380
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $22,334
Tax Year 2024
Lot Size 3,300 Sqft
Acres 0.08
Property Description
823 Park Ave is one of the most unique and spectacular properties in the Historic Mt Vernon neighborhood of Baltimore City. Not only does this property include a Home Office on the First Level along with 5 apartment units, it has the most amazing owners unit comprising approx. 3,400 sq. ft. on three upper levels and a 6th floor deck with unobstructed 270 degree views of the Baltimore skyline. The building contains approx. 8,400 sq. ft. of above grade area, and approx. 1,500 sq. ft. of finished lower level storage/utility space and a studio apartment. The spectacular owner's unit has the following features • Approx. 3,400 sq. ft. of living space • Two bedrooms and 2 1/2 Bathrooms • 2-story Atrium Entertainment area with floor to ceiling windows • 30' Kitchen and Breakfast Area • Approx. 600 sq. ft. Family Room with Accordion Glass Doors opening to a Spacious Deck with 270 degree panoramic views of the Baltimore skyline. Value-Added - There are 5 Rental Units with Two 2-BR and Three Studio Apartments. Not including a vacant 2BR unit, the remaining 4 units have a total monthly rental of $4,495. The fair economic rent of the 2BR units is $1500-$1700/month. There is a lot of upward potential for the monthly rent income, which should be approx. $6,500/month. The owner's unit should rent for $4,000-$5,000/month.
There is also potential to rent the first floor owner's office for $1,500-$2,000/month. Overall, the building has potential monthly rental of $12,000-$13,000/month. Renovations and Updates: The building was completely updated and renovated with the following features • 600 amp electric service • 56 new windows • New plumbing and feeder lines • New Bathrooms • New kitchens • Separate gas and electric meters • Sprinkler system throughout the building • Carport parking for 2 vehicles • Large rear brick patio.
There is also potential to rent the first floor owner's office for $1,500-$2,000/month. Overall, the building has potential monthly rental of $12,000-$13,000/month. Renovations and Updates: The building was completely updated and renovated with the following features • 600 amp electric service • 56 new windows • New plumbing and feeder lines • New Bathrooms • New kitchens • Separate gas and electric meters • Sprinkler system throughout the building • Carport parking for 2 vehicles • Large rear brick patio.
Location
State MD
County Baltimore City
Zoning OR-2
Interior
Hot Water Other
Heating Other
Cooling Central A/C
Heat Source Other
Exterior
Garage Spaces 2.0
Waterfront N
Water Access N
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311090515 011
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Listed by Paul R Cooper • Alex Cooper Auctioneers, Inc.
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