$380,000
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2528 Maryland Avenue Baltimore, MD 21218 Municipality: Baltimore City
Multi-Family
Residence
Beds
Baths
Sq. Ft.
0.03
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
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> Prime Location Near Johns Hopkins University: Just four blocks from the Homewood Campus, these apartments are highly sought after by young professionals and students alike. > Value-Add Potential: Opportunity to upgrade apartments and significantly raise rents in this high-demand area. > Utility ...Pass-Throughs in Place: Tenants cover 100% of water, gas, and electric costs, enhancing cash flow and boosting overall. > Walkable Convenience: Positioned between the Charles Village Shopping District and 25th Streetâs bustling retail scene, tenants can accomplish most errands on foot. A spacious, inviting hallway with an impressive wooden staircase creates a welcoming atmosphere for tenants and visitors. Kitchens are designed with laminate countertops and a variety of cabinetry styles, from modern wood to European-inspired options, offering low-maintenance durability and visual appeal. Living spaces feature a mix of wood and laminate flooring, while bathrooms are equipped with functional, modern vanities or wall-mounted sinks and durable vinyl tub surrounds. The basement and third-floor apartments include dens, adding valuable living space. The office occupies the entire first floor, featuring a private front room that overlooks the tree-lined Maryland Avenue. A larger office area is situated in the rear, accompanied by a half bathroom and a storage room. Both rooms are enhanced by decorative mantles and large windows, creating bright, inspiring workspaces. A central boiler provides heating for all units, with hot water baseboard heat in the basement apartment and hot water radiator distribution for the upper-floor apartments. Two air handlers cool the units: one serves the basement and first floor, while the other serves the second and third floors. A central State Select 40-gallon gas-fired water heater supplies hot water. Observable water supply lines are copper or C-PVC, and observable drain lines are PVC. The property has one electric meter and one gas meter. The landlord bills back for all utilities, keeping monthly utility costs down and more cash in hand. This mixed-use 4-unit in Charles Village is located just four blocks south of Johns Hopkins University Homewood campus, and three blocks south of Wyman Park Dell. Tenants enjoy a quick walk to the Charles Village Shopping District or Safeway grocery store, and I-83 provides a quick commute to downtown Baltimore. 2528 Maryland Avenue garners a âWalkerâs Paradiseâ designation, with a 91 Walk Score and an 89 Bike Score, being located along the Maryland Avenue Cycle Track. RHouse, Remingtonâs trendy food hall, is home to popular stalls like Creole Soul and Koshary Corner and is within a 5-minute walk. Investment Summary: $380,000 $95,000 Per Unit $151 Per Sq. Ft. 7.3 Times Market Rents (GRM) 9.07% Cap Rate 10.0% Projected Cash-on-Cash Return
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MLS#
MDBA2149726
Property Type
Multi-Family
Year Built
1900
Price per Sq. Ft.
$150.79
Lot Size
0.03
Sewer
Public Sewer
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
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