Gut-Renovated Multifamily Income
For Sale
$1,649,000
106 W Saratoga Street, Baltimore, MD 21201
Nine apartment units plus a basement office unit, supported by a 10-year property tax credit.
Property Size7,406 SF
Price / SF$222.66
Days on Market132
Property Features for 106 W Saratoga Street
General Information
Standard status
Active
Size
7,406 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Units
Multifamily Units
9
Office Units
1
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
VYBE Realty
(508) 612-0094
Listed By:
Timothy Klempa · License #641485
(508) 612-0094
Source:
Xome
Added: Mar 23
Changed: Jul 10
Last Checked: Jul 16 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of VYBE Realty
Investment Insights
Based on property information with market context.
106 W. Saratoga is a gut-renovated apartment building offering 9 apartment units along with one basement office unit that can serve as a maintenance office or additional income. The property also includes a parking lot at the rear with 7 spaces, providing on-site parking for tenants.
The building has operated with consistently low vacancy, and it carries a 10-year property tax credit that began in 2021. The current credit is described as helping support cash flow, and the property is presented as ready for a new owner to benefit from the remaining term.
For investors or owner-operators seeking a small-balance multifamily with a renovated interior and a built-in management component for maintenance operations, the basement office unit offers flexibility. The 7-space rear lot supports everyday tenant parking needs, while the ongoing low-vacancy history is positioned as a practical indicator of steady performance. Viewing requires buyer pre-approval.
The building has operated with consistently low vacancy, and it carries a 10-year property tax credit that began in 2021. The current credit is described as helping support cash flow, and the property is presented as ready for a new owner to benefit from the remaining term.
For investors or owner-operators seeking a small-balance multifamily with a renovated interior and a built-in management component for maintenance operations, the basement office unit offers flexibility. The 7-space rear lot supports everyday tenant parking needs, while the ongoing low-vacancy history is positioned as a practical indicator of steady performance. Viewing requires buyer pre-approval.
Key Highlights
- 9 apartment units plus a basement office unit (could serve as a maintenance office or additional income)
- Gut renovated building with 7 on‑site parking spots in the rear parking lot
- 10‑year property tax credit started in 2021 to help support cash flow
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.6k | $25.20 |
| − Vacancy | −$11.2k | −$1.51 |
| EGI | $175.4k | $23.69 |
| − OpEx | −$78.9k | −$10.66 |
| NOI | $96.5k | $13.03 |
7,406 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,488 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,199 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
11,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine apartment units plus a basement office unit, supported by a 10-year property tax credit.
Where is this apartment building located?
The property is located at 106 W Saratoga Street Baltimore, MD.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: 9 apartment units plus a basement office unit (could serve as a maintenance office or additional income); Gut renovated building with 7 on‑site parking spots in the rear parking lot; 10‑year property tax credit started in 2021 to help support cash flow
