For Sale
$50,000

613 Maude AveBaltimore, MD 21225

High-Yield, Sec 8 Income Property

Overview

Added:
Dec 11, 2024
Days on market:
117
This two-unit apartment building in Baltimore, MD, presents a compelling investment opportunity. Located at 613 Maude Ave, this 1944-built property boasts 1,294 square feet on a 2,850 square foot lot, zoned R-6. The building features two units, each with a kitchen and full bathroom. One unit is a one-bedroom (potentially expandable to three bedrooms) and the other is a one-bedroom. Currently 100% occupied, the property generates a substantial net operating income (NOI) of $25,776 annually, with a total scheduled monthly rental income of $2,148. One unit benefits from Section 8 rental assistance, with a monthly tenant portion of $144 and a monthly HAP portion of $1,004. Both units are currently under lease with tenants paying rent on time. The property is offered fee simple, free and clear of all liens. Conveniently located near Cherry Hill Park and I-895, this property offers strong rental income and potential for future appreciation. Annual real estate taxes are $1,734.60. This is a pre-auction offering with the auction beginning November 19th. The buyer is responsible for verifying all zoning, permits, and usage information.

Highlights

  • Two-unit apartment building in Baltimore, MD, offering strong rental income.
  • 1,294 sq ft building on a 2,850 sq ft lot, zoned R-6.
  • Two units, each with a kitchen and bath; one is a one-bedroom (potentially three bedrooms), the other is a one-bedroom.
  • 100% occupied, generating $25,776 annual NOI and $2,148 monthly rental income.
  • One unit has Section 8 assistance ($144 tenant portion, $1,004 HAP).
  • Fee simple, free and clear; annual property taxes are $1,734.60.

Property Details for 613 Maude Ave

Property type
Apartment buildings
Square Feet
1,294 SF
Year Built
1944
Buildings
1
Stories
2
Units
2

Location Insight

City
Baltimore
County
Baltimore City
State
Maryland
Latitude
39.2379066
Longitude
-76.6003999
613 Maude Ave, Baltimore, Maryland

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613 Maude Ave
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