Rehab Opportunity – Multi-Family Possible – in 21223 Redevelopment Area of Poppleton Assigned

Selling the rights of an assignable contract that allows you to purchase this property.

Property Pros:
New roof, several new windows, new plumbing and electrical.
Less than a 15 minute walk from the University of Maryland and University of Maryland Medical Center
Finish as a SFH w/3 baths OR finish as apartments

Apartment Possibilities:
2 Units: (1) 1 bd/1 ba and (1) 2 bd/ 2 ba
3 Units: (1) 1 bd/1 ba and (2) studios w/full kitchens
Either layout leaves room for stackable washer/dryers in separate kitchens
Depending on layout/finishes, gross monthly rent of $1400-$2000+ possible

Cons/Items Needed:
Needs a full rehab ($50K-$100K)
HVAC, cabinets, appliances, hot water heater, a few windows, flooring, lighting & plumbing fixtures (sinks, showers, toilets), trim, wall patches, doors, etc.

Additionally, there is evidence of termites on the inside of the front door along with a small patch of mold/water damage

OTHER PROPERTIES/ACTIVITY IN THE AREA

Multi-Family Property That Recently Sold within .25 miles
1225 Hollins St, 21223
2 Units: each 1 bed/1 bath (low-end finishes)
Sold via Auction on 11-4-18 for $89,250
https://bit.ly/2sq3osy

Recently Sold Properties on 1000 block of W. Fayette St
1026 W. Fayette, 21223
SFH: 3 bed/1 bath
Condition: Unknown
Sold via Auction on 8-21-18 for $70,000
https://bit.ly/2AIQXwF

1025 W. Fayette, 21223
SFH: 3 bed/1.5 bath
Condition: Rehab Possibly Needed
Sold on 11-9-18 for $75,000 – DOM: 30
https://bit.ly/2M8X29Y

Active Properties on 1000 block of W. Fayette St
1036 W. Fayette St.
SFH: 3 beds/3 baths/ 1700 sq ft.
Listed on 9-29-18 for $289,900
Full Rehab Completed
https://bit.ly/2MdoHqF

1013 W. Fayette St.
SFH: 4 beds/3 baths
Listed on 1-6-2019 for $300,000
Rehab Completed
https://bit.ly/2FoNnvM