902 Arion Park Rd Baltimore, MD 21229
Fully occupied multifamily property with strong income potential in Baltimore.
Building Details
- Year built
- 1963
Source:
Elliman
Listing Agent: Menachem M. Dalfin
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Baltimore Multifamily Investment Opportunity
The property at 902 Arion Park Rd, Baltimore, MD 21229 is a fully occupied, well-maintained multifamily property. It features one 1-bedroom, three 2-bedroom, and three 3-bedroom units. All units are lead-free and include hardwood and tile flooring. A shared laundry area provides added convenience for tenants. The property generates approximately $7,416 in monthly rent, totaling $89,000 annually, with full occupancy. Pro forma gross income is projected at $117,264 in Year 1, with additional income potential from laundry and parking. Net operating income (NOI) is expected to reach $64,495 in Year 1 and $74,723 by Year 5, with the capitalization rate increasing from 10.75% to 12.45%, indicating strong cash flow and long-term value. The property is located in ZIP code 21229, which has a population of 44,687 residents and a median income of $55,457, reflecting strong rental demand. Nearby educational institutions include UMBC (10 miles), Coppin State (4 miles), UMB (6 miles), and Johns Hopkins (5 miles). UMMS, with over 28,000 employees, is also located nearby. This location ensures consistent demand and stable returns.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.6869334
- Latitude
- 39.2680929
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FAQs
What type of property is this?
Apartment building - Fully occupied multifamily property with strong income potential in Baltimore.
Where is this apartment building located?
The property is located at 902 Arion Park Rd Baltimore, MD.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: - Strong Cash Flow and Long-Term Value: Cap rate improving from 10.75% to 12.45%.; - High Current Income: Generates approximately $7,416 in monthly rent ($89,000 annually) with full occupancy.; - Projected NOI Growth: NOI expected to increase from $64,495 in Year 1 to $74,723 by Year 5.