Baltimore, MD · Member since 2018 · 27 posts · 26 votes
8y
HI,
There are currently 16 Duplex building in Baltimore for sale. Prices ranging from 100-250.
There are currently 17 Triplex (3units) and three 4 unit buildings for sale. Prices ranging from 100-300.
Inventory is low BUT you can grab a turn key row home (#bed/1bath) for less than $70K and the potential rental income ranges from $1,100-1,400 depending on the location and the condition of the homes, My Investors love it.
Areas I would look into: 21213, 21206, 21217, 21205, 21230, 21229, 21223
Rental Property Investor · Hyattsville, MD · Member since 2017 · 48 posts · 8 votes
8y
@Ozzy Sirimsi thank you for the insight. I noticed you're a realtor in the Baltimore area. Mind if I gave you a call to discuss potential properties in that market?
@Ozzy Sirimsi thank you for the insight. I noticed you're a realtor in the Baltimore area. Mind if I gave you a call to discuss potential properties in that market?
Baltimore, MD · Member since 2018 · 27 posts · 26 votes
8y
HI,
There are currently 16 Duplex building in Baltimore for sale. Prices ranging from 100-250.
There are currently 17 Triplex (3units) and three 4 unit buildings for sale. Prices ranging from 100-300.
Inventory is low BUT you can grab a turn key row home (#bed/1bath) for less than $70K and the potential rental income ranges from $1,100-1,400 depending on the location and the condition of the homes, My Investors love it.
Areas I would look into: 21213, 21206, 21217, 21205, 21230, 21229, 21223
Rental Property Investor · Baltimore, MD · Member since 2014 · 247 posts · 321 votes
8y
@Meghan Billings, if your referring to Larger multi-units in Baltimore, those get traded to locals first, the only mulit families that go to outsiders are the ones that are overpriced. Baltimore isn't some institutional city, its very much a boots on the ground city and a very small circle. Sellers and wholesalers go to people whom they know first in the city itself. All the new groundup multi-units are done by a handfull of companies and that's only because the city lets them. Multis in good areas are about a 7% Cap rate, bad areas 10% cap rate
Rental Property Investor · Upper Marlboro, MD · Member since 2017 · 33 posts · 6 votes
8y
@Ozzy Sirimsi, would it be okay if we connected as I am looking to purchase some investment properties in Baltimore, and I need an agent that knows they lay of the land?
Landlord/Mentor · Baltimore, MD · Member since 2011 · 96 posts · 97 votes
8y
As has been mentioned, if you buy them at the right price and you get the right rents then you can have a cash cow. Before you put any of them under contract make sure that they are properly zoned. You can do that my calling zoning. Just ask them what the current permitted use is. Another important thing is the metering. Sometimes you can call BGE and tell them that you are considering buying the building and you want to confirm the number of "active" gas and electric meters. In addition to that, you need to see if the heat is common and if so- oil or gas? Old boiler or new?