1,900 Sqft Lot
1,900 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Madison Park Historic District
MLS Listing ID MDBA2195910
Year Built 1920
Annual Tax Amount $1,657
Tax Year 2025
Lot Size 1,900 Sqft
Acres 0.04
Lot Dimensions 20' x 95'
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
1 Three-Bedroom; 1 Two-Bedroom; 3 One-Bedroom.
The apartments feature straightforward, low-maintenance finishes that appeal to today's city renter. Kitchens include a mix of butcher-block and laminate countertops, wood cabinetry, and stainless-steel sinks. Bathrooms offer modern vanities and pedestal sinks with ceramic or vinyl tile flooring. Living areas are primarily hardwood, with some laminate plank flooring. Front windows are original wood single-pane, with vinyl replacement windows at the rear.
Each unit has in-suite laundry, enhancing rentability and long-term income potential.
Utilities & Systems
Five electric meters (200-amp total service)
Four gas meters plus one additional hook-up
Heat systems include gas-fired forced air (3 units), mini-split (1 unit), and electric baseboard (1 unit)
First-floor unit shares a water heater; upper units each have dedicated heaters
Water supply lines observed as copper, CPVC, and steel; PVC drain lines
The owner currently pays for common electric and water/sewer. Two units are billed back for water at $35/month; extending billbacks to the remaining units provides a clear opportunity to increase net income.
Neighborhood & Location
Madison Park sits just south of neighboring Bolton Hill and offers convenient access to Penn Station, Downtown Baltimore, and major commuter routes. The nearby Reservoir Square redevelopment is set to introduce new grocery and retail options, while Druid Hill Park—home to the Baltimore Zoo—is close by.
Investment Highlights
Price: $475,000
$95,000 per unit
$144 per square foot
8.3× GRM (Actual) | 6.5× GRM (Market)
9.74% Cap Rate
12.2% Projected Cash-on-Cash Return
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Natural Gas
Heating Baseboard - Electric, Forced Air, Wall Unit
Cooling Window Unit(s)
Inclusions 5 gas ranges, 1 built-in microwave, 5 refrigerators, 5 stacked washers & dryers included.
Heat Source Natural Gas, Electric
Exterior
Garage Spaces 2.0
Water Access N
Roof Type Rubber
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0314120378 028
Ownership Fee Simple
Special Listing Condition Standard
