• 3800 W Forest Park Ave - 3800 W Forest Park Ave, Baltimore, MD 21216

For Lease

Unit Forest Park Apartments and Retail

Available December 15, 2023
  • Available on
    December 15, 2023
  • Time on Market
    4 months
  • Last updated
    Dec 14, 2023
  • Space ID
    2152368
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Property Details

Opportunity to Acquire a Mixed-Use Asset in Northwest Baltimore City . - Features 15 units with a mix of (7) 1 Br-1 Ba, (1) 2 Br-1 Ba, and (7) commercial spaces. - Commercial tenants include hair salons, a barber shop, a church, and a dental lab. - More than half of the residential tenants are voucher-based, providing certainty of rental income. - Current ownership renovated all of the residential units, and typical unit features consist of white appliances, wood cabinets, formica countertops, and carpet/tile flooring. Ability to Organically Increase Rents . - Opportunity exists for a new owner to organically increase the residential rents as most are currently under market. - A new owner can also increase the value of the commercial spaces by bringing those rents to market rates and actively market and lease the two vacant retail spaces to long term tenants. - A new owner can have the tenant in 3808 W Forest Park pay their water bill directly and also evaluate the possibility of charging for water reimbursement to the other commercial tenants. Convenient Location in Northwest Baltimore . - Numerous public transit options are located nearby including bus stops and Metro SubwayLink stop at Mondawmin Mall. - Easy access to Downtown Baltimore and Inner Harbor. - Major area employers nearby: Coppin State University, Sinai Hospital, Baltimore City Community College. - Major area colleges nearby: Coppin State University, Baltimore City Community College

  • Property Type
    Flex Space
  • Total Building Size
    9RSF
  • Last updated
    Dec 15, 2023
  • Property ID
    2230725

Landlord's Leasing Representatives

  • Justin Verner
     
  • Brooks Healy
     
  • Shana Callahan
     
  • Todd Galvin
     
  • Tom Wohlgemuth