$427,500
SOLD DEC 23, 2024

3712 Parkside Dr Baltimore, MD 21206

Arcadia Neighborhood
-- Bed
-- Bath
5,866 Sq Ft
0.44 Acres

Recently Sold

$73 Per Sq Ft

5% Below List Price

111 Days on Market

Highlights

  • Colonial Architecture
  • Hot Water Heating System
  • Walk-Up Access
  • 2 Car Detached Garage

About This Home

As of December 2024

Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 9.08% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investment—Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.

Last Agent to Sell the Property

Gregory Cullison

EXP Realty, LLC License #RSR004781 Listed on: 04/15/2024

EXP Realty, LLC

Last Buyer's Agent

Ibby Fazzini

Berkshire Hathaway HomeServices Homesale Realty License #515437

Berkshire Hathaway HomeServices Homesale Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,785

Year Built

  • Built in 1920

Lot Details

  • 0.44 Acre Lot
  • Property is in average condition

Parking

  • 2 Car Detached Garage
  • 5 Driveway Spaces
  • Front Facing Garage
  • Off-Street Parking

Home Design

  • Colonial Architecture
  • Brick Exterior Construction
  • Block Foundation

Partially Finished Basement

  • Walk-Up Access
  • Connecting Stairway
  • Interior and Exterior Basement Entry

Schools

  • Gardenville Elementary School

Utilities

  • Hot Water Heating System
  • Natural Gas Water Heater

Listing and Financial Details

  • The owner pays for common area maintenance, insurance, water, real estate taxes, supplies
  • Tax Lot 005
  • Assessor Parcel Number 0327015898F005

Community Details

Overview

  • 4 Units
  • 4-Story Building

Building Details

  • Income includes apartment rentals, parking
  • Net Operating Income $38,590

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,785

Year Built

Built in 1920

Lot Details

0

Parking

2

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Detached
  • Architectural Style: Colonial
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1920
  • Automatically Close On Close Date: No
  • Remarks Public: Discover a premier investment choice in a highly desirable area with this multifamily property, currently generating a total annual rental income of $56,880, boasting a net operating income of $38,590, and offering an attractive 9.08% cap rate. This well-maintained property features five fully occupied apartments, including four one-bedroom, one-bathroom units, each offering privacy and convenience. The larger three-bedroom unit includes two bathrooms, ideal for families or shared living arrangements. A distinct advantage for both owner and tenants is the self-contained utility setup in each apartment, with individual gas and electric meters, heating systems, and water heaters, ensuring that tenants are responsible for their own utility bills. This arrangement enhances ease of management and tenant satisfaction. Further enhancing this investment's appeal, the property includes a manager's area in the basement that can be integrated with the three-bedroom unit to expand living space and increase rental income potential. Two detached garages, currently rented, provide additional revenue. Included in this offering is a vacant lot next door (3710 Parkside Dr), zoned for the development of a detached single-family home, (buyer to verify) presenting a lucrative opportunity for further development and investment diversification. This opportunity encapsulates both immediate returns and long-term growth potential. Act quickly to secure this multifaceted investment—Preapproval or Proof of Funds required prior to showing approval. 24 hours notice required for all showings.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Foundation Details: Block
  • Basement: Yes
  • Basement Type: Improved, Interior Access, Outside Entrance, Connecting Stairway, Partially Finished, Walkout Stairs
  • Total Sq Ft: 6466
  • Living Area Sq Ft: 5866
  • Price Per Sq Ft: 87.34
  • Above Grade Finished Sq Ft: 4866
  • Below Grade Finished Sq Ft: 1000
  • Below Grade Sq Ft: 600
  • Total Below Grade Sq Ft: 1600
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 3712

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Garage Features: Garage - Front Entry
  • Number Of Detached Garage Spaces: 2
  • Total Garage And Parking Spaces: 7
  • Type Of Parking: Off Street, Detached Garage, Driveway
  • Number of Spaces in Driveway: 5

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Heating Fuel: Electric, Natural Gas
  • Heating Type: Hot Water
  • Heating: Yes
  • Hot Water: Electric, Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: BALTIMORE CITY PUBLIC SCHOOLS
  • Elementary School: GARDENVILLE
  • Elementary School Source: 3rd Party
  • School District Key: 121137830454
  • School District Source: 3rd Party
  • Elementary School: GARDENVILLE

Lot Info

  • Land Use Code: M
  • Lot Size Acres: 0.44
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 19176.00
  • Property Condition: Average
  • Year Assessed: 2024
  • Zoning: R-5
  • In City Limits: Yes

Rental Info

  • Existing Lease Type: Month To Month
  • Ground Rent Exists: No
  • Owner Pays: Common Area Maintenance, Insurance, Water, Taxes - Real Estate, Supplies
  • Total Actual Rent: 56880.00
  • Units Leased Count: 5
  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 9785.00
  • Assessor Parcel Number: 0327015898F005
  • Tax Lot: 005
  • Tax Total Finished Sq Ft: 4866
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2024
  • Close Date: 12/23/2024

Multi Family

  • Income Includes: Apartment Rentals, Parking

MLS Schools

  • School District Name: BALTIMORE CITY PUBLIC SCHOOLS

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/23/2024 12/23/24 Sold $427,500 +0.6% $73 / Sq Ft
08/04/2024 08/04/24 Pending -- -- --
06/13/2024 06/13/24 Price Changed $425,000 -5.6% $72 / Sq Ft
04/15/2024 04/15/24 For Sale $450,000 -- $77 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Gregory Cullison

    Seller's Agent in 2024

    Gregory Cullison

    EXP Realty, LLC

    (443) 903-8980

    1 in this area

    482 Total Sales

    Section Image
  • Ibby Fazzini

    Buyer's Agent in 2024

    Ibby Fazzini

    Berkshire Hathaway HomeServices Homesale Realty

    (410) 375-6418

    1 in this area

    205 Total Sales

    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: MDBA2121126

Bright MLS

APN: 27-01-5898F-005

Maryland Baltimore City County Baltimore 21206 Arcadia

3712 Parkside Dr, Baltimore, MD

This home is located at 3712 Parkside Dr, Baltimore, MD 21206 and is currently priced at $427,500, approximately $72 per square foot. This property was built in 1920. 3712 Parkside Dr is a home located in Baltimore City with nearby schools including Gardenville Elementary School, Booker T. Washington Middle School, and Paul Laurence Dunbar Community High School.

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