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COOL SPACE

Properties to watch in Maryland

The apartment building at 2906-2910 Reisterstown Road in Baltimore overlooks Druid Hill Park. (Alex Cooper Auctioneers photo)

This 45-unit apartment building for sale has a scenic view

 Address: 2906–2910 Reisterstown Road, Baltimore

Units: 45

Use: Apartments

Listing price: Auction

Contact: Matthew Cooper, Alex Cooper Auctioneers Inc.

410–977–4711; matt@alexcooper.com

Nick Luciani, Alex Cooper Auctioneers Inc.

443–465–4761; nick@alexcooper.com

This property overlooking scenic Druid Hill Park in Baltimore offers interested investors an excellent opportunity for return on investment, the broker says.

The 45-unit Parkside Manor, at 2906–2910 Reisterstown Road, presents a gross potential annual rent of about $440,000.

“I definitely think that an experienced operator can get more cash out of this place depending on who they rent it to etc.,” Matthew Cooper, broker at Alex Cooper Auctioneers said.

The makeup of the units includes six three-bedroom units with more than 770 square feet of living space, 22 two-bedroom units with some units in excess of 880 square feet of living space and 17 one-bedroom units with between 575 square feet and more than 770 square feet of living space.

Currently, 39 of the 45 units, which were redone in 2008, are occupied. The lead-free building also features a new roof, sprinkler fire alarm system and vertical plumbing pipes.

The seller, 2910 Reisterstown LLC, in conjunction with the staff of Blue Ocean Realty LLC took over the management of the complex about six months ago.

“They do a great job. Again, this just doesn’t fit their portfolio, really in regards to size. This is the first building that they did, and so there’s a lot of TLC, this place was done right,” Cooper said.

The building is set for auction on April 21 and an open house is scheduled for April 12.