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Listed by Will Cannon • Ben Frederick Realty, Inc.
$1,700,000
Est. payment /mo
0.31 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Charles Village
MLS Listing ID MDBA2211224
Year Built 1900
Annual Tax Amount $5,751
Tax Year 2025
Lot Size 0.307 Acres
Acres 0.31
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Opportunity to acquire 18 apartments across four buildings on Saint Paul Street in Charles Village, just blocks from Johns Hopkins University's Homewood Campus. The portfolio spans two consecutive blocks, with all buildings located within 470 walking steps of one another.
Offered at $94,444 per unit, the portfolio presents a clear opportunity to increase rents in one of Baltimore's most consistent rental corridors. Comparable rentals for similar unit types range from $950 to $1,150 per month. Bringing current rents to market levels projects a 10.33% cap rate and 15.5% cash-on-cash return.
The unit mix includes one rooming unit, four studios, ten one-bedroom apartments, and three two-bedroom units. Kitchens feature wood cabinetry and predominantly laminate countertops; two units include granite countertops. Units include 20” or 30” gas ranges and stainless-steel sinks. Bathrooms include a mix of modern vanities and wall-mounted sinks, with claw foot, cast iron, steel, and fiberglass tubs or shower stalls.
Utility configurations vary by building and include a mix of separately metered and master-metered systems. Tenants pay for in-unit electric where separately metered, and at select properties tenants also pay for gas used for cooking.
Located within the Charles Village Community Benefits District and four blocks from the Charles Village Shopping District, the portfolio benefits from strong neighborhood amenities and proximity to Johns Hopkins. A Hopkins shuttle stop one block west provides direct access to both the Homewood and Hospital campuses.
🔹 KEY HIGHLIGHTS
● Four buildings within 470 feet across the 2700 & 2800 blocks of Saint Paul — rare block-level density near Johns Hopkins
● Current rents approximately 40% below market — repositioning projects a 10.33% cap rate and 15.5% cash-on-cash return
● $94,444 per unit entry point — below prevailing pricing for renovated assets in the corridor
Offered at $94,444 per unit, the portfolio presents a clear opportunity to increase rents in one of Baltimore's most consistent rental corridors. Comparable rentals for similar unit types range from $950 to $1,150 per month. Bringing current rents to market levels projects a 10.33% cap rate and 15.5% cash-on-cash return.
The unit mix includes one rooming unit, four studios, ten one-bedroom apartments, and three two-bedroom units. Kitchens feature wood cabinetry and predominantly laminate countertops; two units include granite countertops. Units include 20” or 30” gas ranges and stainless-steel sinks. Bathrooms include a mix of modern vanities and wall-mounted sinks, with claw foot, cast iron, steel, and fiberglass tubs or shower stalls.
Utility configurations vary by building and include a mix of separately metered and master-metered systems. Tenants pay for in-unit electric where separately metered, and at select properties tenants also pay for gas used for cooking.
Located within the Charles Village Community Benefits District and four blocks from the Charles Village Shopping District, the portfolio benefits from strong neighborhood amenities and proximity to Johns Hopkins. A Hopkins shuttle stop one block west provides direct access to both the Homewood and Hospital campuses.
🔹 KEY HIGHLIGHTS
● Four buildings within 470 feet across the 2700 & 2800 blocks of Saint Paul — rare block-level density near Johns Hopkins
● Current rents approximately 40% below market — repositioning projects a 10.33% cap rate and 15.5% cash-on-cash return
● $94,444 per unit entry point — below prevailing pricing for renovated assets in the corridor
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Natural Gas
Heating Radiator
Cooling None
Inclusions 18 gas ranges of various sizes, 18 refrigerators
Heat Source Natural Gas, Oil
Exterior
Garage Spaces 2.0
Water Access N
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 0312163842 041
Ownership Fee Simple
Special Listing Condition Standard
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