• March

    30

    2017
  • 1738
  • 0

4900 Curtis Ave 😱19% Cap Rate multi-unit 🏡

Hi Friend!

Looking to make some deals before Summer arrives, so we’re extending a 100k price drop on this 13 bedroom multi-unit, which will put it at an impressive 19% Capitalization Rate. As always the budget is included in the sales price to bring it back to new again. Take a look and get in touch with me if you are interested.
Looking forward to answering your questions!      -Cris
919-675-CRIS

13 Bed/8.5 bath Pre-Hab
on Curtis Bay

4900 Curtis Ave, Baltimore, MD
13br/8.5ba – 8100 sq/ft

Income Analysis
Listing Price: $4̶5̶0̶,0̶0̶0̶  350,000
Total monthly projected rental income: $7,600
Estimated Annual Taxes: $5,300
Estimated Annual Insurance: $3383
Estimated Annual Maintenance Costs: $7,600
** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.
Annual Property Management: $9,120
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $91,200
Annual Cumulative Hard Costs: $25,403
Adjusted Gross Annual Income: $65,797
5 Year Return: $328,985
10 Year Return: $657,970

Rental income breakdown:
Two – 2BR – $1200 each
One – 1BR Loft -$1100
One – 1BR – $1000
One – 3BR – $1400
One – 4BR House – $1600
Total = $7600/mth

Ladies and gentlemen this is a full gut and full reconfiguration project, but she’ll be a beauty when we’re finished. Granite, ceramic tile, hardwoods, stainless appliances, separate meters and A/C per unit included. You’ll also have an asset in one of the hottest future sections of Baltimore, should you choose to sell later.

Make sure to read about the multi-billion dollar Under Armour project coming up down the street from this one too. It’s bringing in 20k new employees to the immediate area. I have attached a rendering of the campus and a map showing you how close this project is to it below.

What’s a Pre-hab?

Pre-hab means we have not started work on the property yet. However the prices you see are our “turn-key price” that includes full rehab (granite counters, stainless appliances, hardwood floors) and we turn these around in 45 – 60 days. We also guarantee tenant placement within 30 days of completion or we cover the 1st month’s rent, should you utilize our Tenant Placement and Property Management services.

If you have your own pre-hab you’d like a construction quote on, we’d be glad to provide that for you as well.

Common answers about this property

-We have zoning approval and plans have been worked up, but we are open to personal changes if a purchaser would like. If we end up holding it into the new year, we’re going to have a 3-D model put together on it to assist in the marketing effort at the higher price point.

-We’re adding a courtyard and parking pad out back. The parking/courtyard mix will determine how many cars of course and you can decide how much of either you prefer, but that should get us 6-8 cars in addition to ample street parking.

-Yes, the exterior will get a number of things. New windows and doors, modifications to the bottom front to dress it up, deck work, etc.

LEAVE A COMMENT

You comment will be published within 24 hours.

Cancel reply

COST CALCULATOR

Use our form to estimate the initial cost of renovation or installation.

REQUEST A QUOTE
Latest Posts
Most Viewed
Text Widget

Here is a text widget settings ipsum lore tora dolor sit amet velum. Maecenas est velum, gravida Vehicula Dolor

Categories

© Copyright 2016 | Celebration Investment Group | All Rights Reserved