1401 Riverside Ave is a two unit stable cash flowing asset located in the heart of Baltimore City. This apartment unit was completely renovated in 2013, fitted with hardwood floors, granite counter tops, soft close cabinetry, stainless steel appliances, a new high efficiency HVAC system, kitchen & bathroom plumbing, as well as a new two level roof deck, leaving virtually no deferred maintenance. The building is comprised of a high end one bedroom apartment upstairs, and a commercial unit on the main floor that currently operates as a juice bar, each separately metered for electric. The property is currently fully occupied and receiving strong market level rents.

The commercial unit has been completely renovated as well and fitted out as a juice bar offering an assortment of smoothly type beverages focused on the active Lifestyle. The business is interested in negotiating a new 5 year lease with the new purchaser.

Location Description:

In Riverside, you will find young professionals who are new to the area living next door to homeowners who have owned their homes for 30+ years. Most of the homes were built in the early 1900's to1920's, but most have undergone remodeling and major updating. Each street has quite a mixture of home styles that stem from the original "Rowhome." Typically, homes are 2 or 3 bedrooms, and have small yards or parking pads located in back. Many small restaurants and dining options are popping up and succeeding in this thriving neighborhood. Leone Riverside Park is the hub of this neighborhood, which is home to many ball fields & basketball courts, a children' s playground, public pool, pavilion space, and many acres for dog walkers to enjoy. It' s common to see the various social leagues playing softball, football and even kickball in the park.

In addition, anchor employers such as Under Armour are just a short drive down the road as well as multiple restaurants and bars at the Cross Street Market Area. The close proximity to everything in South Baltimore provides residents with many entertainment options just outside their door.

Highlights:

>> GREAT LOCATION

>> LARGE EMPLOYERS IN THE AREA

>> HIGH HOUSEHOLD INCOME

>> MANY PROFESSIONALS

>> HIGH RENTS

>> LONG COMMERCIAL LEASE POSSIBLE

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Sales Info:

>> Cap rate: 6.9%

>> Commision split: 2.0%

>> NOI: $30278