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Baltimore,MD 21217
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 4,688 sqft
Price per Sqft $117
Subdivision Eutaw Place-Madison Avenue Historic District
MLS Listing ID MDBA2177690
Style Other
Abv Grd Liv Area 3,888
Year Built 1907
Annual Tax Amount $8,178
Tax Year 2024
Lot Size 2,713 Sqft
Acres 0.06
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
Fully-leased three-unit rental property currently generating $3,989.95 in monthly rental income. This property offers immediate cash flow from established tenant relationships, supported by professional property management.
The building consists of three separate residential units, each currently occupied under active lease agreements. All units feature period architectural details typical of the neighborhood's historic character.
Current Monthly Income:
- Unit 1: 2BR/2BA - $1,400/month
- Unit 2: 2BR/2BA - $1,200/month
- Unit 3: 2BR/1BA - $1,389.95/month
- Total Monthly Income: $3,989.95
- Annual Gross Income: $47,879.40
Area Investment Fundamentals:
The property is situated adjacent to the $170 million Reservoir Square development, which, according to released projections, features 120 market-rate townhomes starting at $ 350,000, a full-service Streets Market grocery store, over 200 apartments, and office/retail space. The $44 million Mayor's Office of Employment Development headquarters is scheduled for completion by 2026, bringing hundreds of municipal workers to the immediate area.
Baltimore's multifamily investment market has shown significant activity with transactions up 95% year-over-year. The local market has experienced 2.4% rent growth in 2024, with a projected 5% growth for 2025. Area vacancy rates of 5-6% remain below the metro average of 7.2%. Properties along Eutaw Place average $391,075 compared to the broader zip code median of $175,900. Please independently verify all numbers.
The neighborhood benefits from its proximity to multiple educational institutions, including the Maryland Institute College of Art (0.8 miles), the University of Baltimore (1.4 miles), and Coppin State University (1.7 miles), which provides consistent rental demand. Transit connectivity is rated with a Walk Score of 75, a Transit Score of 81, and a nine-minute walk to the Penn-North Metro Station.
This investment property offers diversified rental income across three units, with established rental rates and strong tenant relationships—all financial records, lease agreements, and property management details available during the due diligence period.
Location
State MD
County Baltimore City
Zoning R-7
Rooms
Basement Connecting Stairway,Outside Entrance,Full
Interior
Interior Features Other
Hot Water Natural Gas
Heating Radiator
Cooling Multi Units,Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
View City
Accessibility None
Garage N
Building
Foundation Other
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0313083424 013
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard