What makes this 2 unit investment property special?
A great opportunity to own a recently renovated turnkey 2 apartment investment property with a large garage located a 10 minute walk to the Fells Point waterfront, a two block walk from beautiful Patterson Park and Eastern Avenue with its shops/restaurants. The property sets up well for FHA (owner occupied) financing, live in one unit and let the other pay your mortgage. Check out our House Hacking video to learn more about the advantages of owner occupied investing.
2 Unit Apartment Building Property Details
The property make up is 2 self contained apartments – one 1 bedroom/ 1 bathroom apartment and one 2 bedroom/ 2 bathroom apartment. The one bedroom apartment is situated in the front of the building, it features original hardwood flooring, fresh paint and exposed brick walls. The kitchen has laminate counter tops, wooden cabinets, refrigerator, 30″ gas range, dishwasher and disposal. The bathroom has a modern vanity, soaking tub with shower and ceramic tile surround. The package is completed with a stacked washer/ dryer conviently located upstairs next to the bedroom. The two bedroom apartment is in the back of the building. The kitchen has undergone a tasteful renovation with all new stainless steel appliances, refrigerator, dishwasher, disposal, 30″ gas range with built in microwave, Corian countertops and wooden cabinets. 16 by16 inch ceramic tile floors in the kitchen lead to original hardwood throughout the apartment. The downstairs bathroom has a 5 ft. walk in shower with ceramic tile surround, a modern vanity. The upstairs bathroom is en suite. It has a modern vanity and a soaking tub with shower. The unit is completed by a stacked washer/dryer. The property is enhanced by a small courtyard for grilling or relaxing leading to a large (2 sedans) garage off rear alley.
Who pays the utilities in this investment property?
The apartments are separately metered for gas and electric allowing the tenants to easily pay their own utilities. Both units have their own gas fired forced air furnace and central air conditioning. The windows in this end unit are vinyl replacement throughout filling the property with natural light. The building has 200 Amps coming in with 100 Amps going to each unit with separate panels in unit. The roof was replaced 4 years ago.
The location of 221 S. Chester St. is great with a Walk Score of 96 out of 100. This location is a Walker’s Paradise so daily errands do not require a car. The property is located two short blocks from bustling Patterson Park nicknamed ” Best Backyard in Baltimore”. The park consists of open fields of grass, large trees, paved walkways, historic battle sites, a lake, playgrounds, athletic fields, a swimming pool, an ice skating rink and other signature attractions and buildings. A short 5 block walk and you are in the heart of the Fells Point/Canton waterfront.