4,620 Sqft Lot
4,620 Sqft Lot
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Lot Size 4,620 Sqft
MLS Listing ID MDBA2209550
Financing Cash,Contract,Conventional,FHA,Other
Total Units 6
Short Sale No
Originating MLS BRIGHT
Property Description
**PREMIUM BALTIMORE MIXED-USE INVESTMENT: 7-UNIT MULTIFAMILY OPPORTUNITY IN REMINGTON / STATION NORTH | 10.00% Cap Rate | 12.66% Leveraged IRR**
This is an exceptional, fully stabilized 7-unit mixed-use property presenting a rare high-yield investment in Baltimore's desirable Remington/Station North corridor. Featuring 6 well-maintained residential apartments and 1 ground-level commercial unit, this asset is fully occupied, offering an immediate and robust cash-flowing opportunity. The property is meticulously maintained with recent unit upgrades throughout, ensuring minimal day-one management intervention.
**THE INVESTMENT CASE: High-Performance, Stabilized Income**
* **Superior Cash Flow:** The property is generating a strong $110,000 Gross Income and value-add projected **$117,000** in Gross Annual Income.
* **High Rate of Return:** Financial analysis showcases a powerful **10.56% Cash-on-Cash Return** and a projected **12.66% Leveraged IRR** over a 10-year hold.
* **Solid Cap Rate:** The asset boasts an attractive Terminal Capitalization Rate of **10.00%**.
* **Turnkey Operation:** Fully occupied with stable tenancy, this is a truly passive investment poised for long-term equity growth.
**VALUE-ADD POTENTIAL: Unlock Hidden Upside**
The primary value-add opportunity lies in the commercial unit, which is currently generating significantly less income than the residential units. An investor can materially boost Net Operating Income (NOI) through strategic repositioning and rent optimization:
* **Commercial Conversion:** Explore the potential to convert the existing commercial space (Unit 7, currently at $900/month) into an additional residential apartment to maximize revenue per square foot.
* **Rent Optimization:** Opportunity to systematically raise rents in the residential units (Units 1, 3, 5 currently at $1,350/month and Units 2, 4, 6 currently at $1,600/month) to capture market rate and increase the Gross Annual Income beyond current figures.
Secure this low-risk, high-return Baltimore multi-family property. Detailed 10-year Proforma with IRR analysis is available upon request. Inquire now for a full offering package.
The commercial unit may offer potential for conversion into additional residential efficiency units (buyer to verify all zoning and use approvals).
The property includes notable historical connections, including prior ownership by George Brown and documented history of Abraham Lincoln residing at the property.
Buyer to verify all income, expenses, zoning, and potential uses.
Location
State MD
County Baltimore City
Zoning OR-1
Interior
Hot Water Natural Gas
Heating Central
Cooling Window Unit(s)
Heat Source Natural Gas
1-purchase type For Sale
Exterior
Garage Spaces 6
Waterfront N
Water Access N
Accessibility None
Parking Type On Street, Parking Lot
Total Parking Spaces 6
Building
New Construction N
Sewer Public Sewer
Water Public
Schools
School District Baltimore City Public Schools
Others
Tax Amount $8,619
Tax Year 2023
Tax ID 0312073611 002
Ownership Fee Simple
Acceptable Financing Cash, Contract, Conventional, FHA, Other
Special Sale Standard
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Advisor | yjnn 4444789