859-861 Washington Blvd | Baltimore, MD 21230
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859-861 Washington Blvd
Baltimore, MD 21230
Multifamily For Sale · Multifamily Property For Sale
PROPERTY FACTS
| Price | Not Individually For Sale | Building Class | B |
| Property Type | Multifamily | Lot Size | 0.35 AC |
| Property Subtype | Apartment |
| Price | Not Individually For Sale |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.35 AC |
EXECUTIVE SUMMARY
On 01/06/2020, a 5-unit multi-family building at 859-861 Washington Blvd.
was sold for $1,450,000.
The recorded buyer was Stax Mobtown Complex LLC, who sold 3 buildings;
a church, a rectory, and a school building.
There was no CAP rate because they purchased the buildings for redevelopment purposes.
The current gross rent is $11,530/monthly.
The church is occupied by the Mobtown ballroom and currently rents for $6,000/monthly.
In October it goes up to $6,500/monthly for the remainder of the lease which ends in October 2023.
The rectory converted to 5 units and produces $5,530/monthly.
The school converted to 25-35 apartments.
Both the seller and buyer represented themselves in this transaction.
was sold for $1,450,000.
The recorded buyer was Stax Mobtown Complex LLC, who sold 3 buildings;
a church, a rectory, and a school building.
There was no CAP rate because they purchased the buildings for redevelopment purposes.
The current gross rent is $11,530/monthly.
The church is occupied by the Mobtown ballroom and currently rents for $6,000/monthly.
In October it goes up to $6,500/monthly for the remainder of the lease which ends in October 2023.
The rectory converted to 5 units and produces $5,530/monthly.
The school converted to 25-35 apartments.
Both the seller and buyer represented themselves in this transaction.
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