Rare, high cash generating, five-unit apartment complex plus single family home in Glen Burnie. Great location off B and A Hwy, close to both Hwys 10 and 100. Big rental demand area.
5-unit apartment complex with laundry facility. All apartments rented with rent upside. 4 of the 5 units have been fully renovated, including flooring, lighting, painting, heating/cooling, etc. One 3 bedroom, three 1 bedrooms, and one efficiency. Solid, long-term tenants with good security deposits. The building was recently upgraded with individual electrical meters to each unit and a brand new roof and exterior painting. Has a separate coin-operated laundry room. Owner is in the process of completing landscaping and installing a new mailbox cluster.
In addition, rear of property has a stand-alone 1 bedroom home with covered carport.
Property generates $74,880+ per year in gross rental income! Never a vacancy, huge demand area for these types of units. Considering all expenses, at $885k purchase price this represents a 7% cap rate investment. There is additional upside in rents as well.
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