1624 Aliceanna Street

Description

Seize the opportunity to own a versatile mixed use zoned two-unit property in the heart of Fells Point. A destination neighborhood for locals and visitors alike, this property being zoned for both residential and commercial use is poised to take full advantage of the location with the variety of uses it can serve. Live in one unit and rent the other for residential or a business use. Make that business a short-term rental--- a perfect base for visitors exploring the culinary and social hub that is this historic waterfront community. Another option---buy and hold to lease both units to residential or commercial tenants. Sure to be a solid anchor of an investment over time given the strength of the location. ***Depending on use and management, a cap rate in the mid to upper 6% range can be developed, and all systems are currently functioning well.*** Businesses for the main level unit could range from a small salon to retail or office space or a space for a creative start up or side gig. Another option, consider a co-purchase with a partner, friend or family, and enjoy your own space while remaining close for company to enjoy this amenity rich environment. Each unit has its own private entrance and is separately metered to easily allow for the variety of uses. If kept residential, both units have their own laundry as well as modern kitchen and bathroom finishes that are well blended with original character details, so charm and warmth are retained without sacrificing functionality. The prime location also lends itself to easy access to other popular city locations such as the luxurious amenities of Harbor East, the city center of downtown and the stadium district, the waterfront promenade, Canton and Butchers Hill with their own signature vibes or grab a water taxi to enjoy the local flavor across the pond in Fed Hill, Otterbein, and Locust Point. A hub in its own right, Johns Hopkins Hospital is only blocks away to the north and commuter routes taking you in any direction you need are just a quick hop away. The main level unit is currently leased through July 2025 with reliable tenants likely to renew. The upper-level unit is currently vacant and also listed for rent, offering flexibility for a live-in owner or new tenant. Another great feature is a shared rear courtyard providing some rare multi-unit outdoor space with plenty of potential for upgrades. Whether you're looking to live, lease, or launch a business, this property checks the boxes for charm, location, and income potential. Opportunities like this dont come around often in a neighborhood as full of life and history as iconic Fells Point. Dont miss out and bring your vision to life before another lucky buyer calls this their own!