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TV Hill Multi-Family 2071 Druid Park Dr

3 Unit Apartment Building $729,997 CAD ($243,332 CAD/Unit) 8.32% Cap Rate Baltimore, MD 21211

Investment Highlights

  • Rarely Available, Turn-Key Woodberry Triplex, 2.5 Blocks to Druid Hill Park
  • Self-Contained, Individually Metered Apartments
  • Well Maintained and Thoughtfully Designed with Ample Off-Street Parking
  • Tenants Enjoy Outdoor Activities with the Jones Falls Trail Winding through Druid Hill Park’s Wooded Areas, Along with Access to Athletic Fields, Picn

Executive Summary

Originally a large, single-family home, this Woodberry multi-family features 3 thoughtfully laid out apartments. Each is a little different and all take advantage of many windows and bright living spaces.
A covered front porch and well-manicured garden beds create a welcoming atmosphere for tenants at 2071 Druid Park. A sidewalk path from the front to the rear provides easy access to the parking pad and the finished, shared laundry room. The kitchens in each unit are equipped with modern wood-shaker cabinets, durable laminate countertops, 30” electric ranges, and dishwashers. Bathrooms feature modern vanities and tubs with ceramic tile surrounds for easy cleaning. Durable, stylish laminate flooring spans the living spaces, while the kitchens and bathrooms feature ceramic tile flooring.
Utilities:
Each of these self-contained apartments is individually metered, allowing tenants to control their own interior climates and manage their utility usage. The owner has thoughtfully ensured that the washers and dryers for the upper apartments are connected to their own electric meters, keeping usage separate from the public service meter. The first-floor apartment enjoys the convenience of an in-unit stacked washer and dryer. Heating and cooling are handled efficiently, with two of the apartments equipped with gas-fired, forced air furnaces and central air conditioning, while the top-floor apartment features a mini-split system. Each unit is served by its own 50-gallon electric water heater. While the landlord currently covers the water bill, there is potential to implement a water bill-back system during lease renewals to enhance cash flow. The property has upgraded copper water supply lines and modern PVC drain lines, ensuring reliability and efficiency.
What’s Great About Woodberry:
This Woodberry multi-family offers beautiful views of the downtown skyline and is 2.5 blocks from Druid Hill Park. Druid Hill Park spans 745 acres as Baltimore’s first large municipal park and one of the oldest in the country. The park is home to the Maryland Zoo, various athletic fields, picnic pavilions, and a disc golf course. The Druid Hill Reservoir also features a 1.5-mile loop that’s popular for biking, running, and walking. 2071 Druid Park Drive is situated near Baltimore’s quirky Hampden neighborhood, home to the iconic “Avenue on 36th Street.” With Woodberry Station Light Rail and the Union Ave/Clipper Road bus station just a short walk away, and quick access to I-83 for points north and south, commuting is a breeze.

Attachments

DruidPark2071-1

Property Facts

Price $729,997 CAD
Price Per Unit $243,332 CAD
Sale Type Investment
Cap Rate 8.32%
Gross Rent Multiplier 8.9
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single Family Home
Building Size 2,430 SF
Average Occupancy 100%
No. Stories 3
Year Built 1910
Parking Ratio 2.47/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+2.5 1 - -
2+1 1 - -
Transit Score ®
Excellent Transit (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
  • Listing ID: 33192719

  • Date on Market: 2024-09-16

  • Last Updated:

  • Address: 2071 Druid Park Dr, Baltimore, MD 21211

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