$885,000

21 Sumac Rd

GLEN BURNIE MD, 21060

Description

High cash generating 6-unit property -- 5-unit apartment complex plus single family home in Glen Burnie. Great location off B and A Blvd, close to both Hwys 10 and 100. Big rental demand area. Lead free. Coin-operated laundry facility on site. 5 of the 6 units have been fully renovated, including flooring, lighting, painting, heating/cooling, etc. One 3 bedroom, four 1 bedrooms, and one efficiency. Solid, long-term tenants with good security deposits. The main building was recently upgraded with individual electrical meters to each unit and a brand new roof, exterior painting, landscaping, and mailbox cluster. The small single family home has a car port. Property generates ~$75k+ 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. With all the upgrades, this is an easy property to manage.

Details

MLS#MDAA424168
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1949
Days On Site66

Features

SQ Feet4,400
Story(s)0
Units2
ZoningR5

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Area Information

StateMD
CityGLEN BURNIE
Zip Code21060
Listing VS Median (in 21060)
Price:
$885,000
low | high
Med:
$314,990
100% of Average
SqFt:
4,400
low | high
Med:
1,881
100% of Average
$ / SqFt:
$201
low | high
Med:
$167
66.743648197707% of Average
On Site:
66
low | high
Med:
26
100% of Average
Listing Updated: 04/06/2020
MLS Number: MDAA424168
Listing Provided By:
Nicole C DeLuca  of  Taylor Properties