1200 N Caroline St Baltimore, MD 21213

This 12-unit multifamily property, combining 1200 & 1202 N Caroline St, offers nearly 10,000 sq. ft. of space. The building features apartment layouts, cash flow, and equity potential. Constructed in a bygone era, the property includes a majestic entrance, custom millwork, and ceilings. The unit mix consists of eight two-bedroom units, two one-bedroom units, and two studios. Each unit is separately metered, with tenants responsible for their own gas and electric expenses. The tenant base includes both market-rate and Section 8 occupants, with stable rents averaging approximately $1,000 per month, resulting in a gross annual rental income of $125,000. The property is situated on a lot measuring 49ft by 159ft, spanning the block from Caroline to Spring St, and is adjacent to Madison Square Park, Recreation Center, and Playground, offering city views. Located half a mile from John's Hopkins Medical Campus, the property is situated amidst the East Baltimore Development, featuring 1.7 million square feet of life sciences research and office space, educational institutions, green areas, grocery stores, and other neighborhood amenities. The owner has invested over $100,000 to stabilize the property, yielding an 8% Cap Rate. The property has potential equity of up to $500,000, along with a likely 10+% cap rate.