7689 Baltimore Annapolis BlvdGlen Burnie, MD 21060

For Sale
$515,000

High-yield, renovated 3-unit building

Overview

Added:
Dec 11, 2024
Days on market:
92
This meticulously renovated three-unit apartment building, known as "B&A Bungalows," presents a compelling investment opportunity in Glen Burnie, Maryland. Located on a desirable corner lot at 7689 Baltimore Annapolis Blvd, zip code 21060, this property boasts a fully fenced yard, four off-street parking spaces, a carport, and a powered shed. The building comprises a spacious three-bedroom apartment on the ground floor and two separate studios on the lower level. Each unit features separate meters for utilities. Extensive renovations completed between 2021 and 2022 encompassed both interior and exterior improvements. Exterior upgrades include new fencing, enhanced parking, landscaping, paint, LED lighting, awnings, and a new roof and gutters on the main building and shed. Interior renovations are equally comprehensive, featuring new paint, lighting, flooring, baseboard heaters, window air conditioners, bathrooms, and appliances (refrigerators, washers, dryers). The upstairs apartment retains beautifully rehabilitated original hardwood flooring. A less-than-ten-year-old boiler provides hot water and heat to the upper unit. The property is fully compliant with all permits and licenses, is lead-free, and currently enjoys 100% occupancy, generating $52,740 in annual gross rent. The asking price reflects an 8% capitalization rate based on actual income, not projections. Serious inquiries only

Highlights

  • Exceptional triplex investment opportunity on a corner lot at B&A Blvd.
  • Fully renovated in 2021-2022, boasting new roof, exterior paint, landscaping, and parking.
  • Features three units: one 3-bedroom apartment and two studios, all separately metered.
  • Includes four off-street parking spaces, a carport, and a separate powered shed.
  • Fully leased, generating $52,740 in annual gross rent with an 8% cap rate based on actual income.

Property Details for 7689 Baltimore Annapolis Blvd

Property type
Multifamily properties, Apartment buildings
Buildings
1
Units
3

Location Insight

City
Glen Burnie
County
Anne Arundel
State
Maryland
Latitude
39.1535131
Longitude
-76.5966133
7689 Baltimore Annapolis Blvd, Glen Burnie, Maryland
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7689 Baltimore Annapolis Blvd
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