6-Unit Multifamily
For Sale
$900,000
2903 Ridge Ave, Baltimore, MD 21244
Three buildings contain six two-bedroom residences on a single parcel.
Property Size5,641 SF
Lot Size6.80 Acres
Price / SF$159.55
Days on Market11
Property Features for 2903 Ridge Ave
General Information
Standard status
Active
Size
5,641 SF
Lot size
6.80 Acres
Property subtype
Multi-Family
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1953
Buildings
3
Listing Agency:
Northrop Realty
Listed By:
Patrick T Komiske II · License #596755
(410) 596-6523
Source:
Hargreaveshomesales
Added: Sep 26
Changed: Oct 2
Last Checked: Oct 5 at 9:31PM
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 Northrop Realty
Investment Insights
Based on property information with market context.
The multifamily property spans 6.8 acres and includes three structures with two 2-bedroom dwelling units in each, totaling six residences on one parcel. Hot water heaters have been updated throughout. The 2903 Ridge building has a new roof and an oil burner dated May 2026; it uses a shared well and septic tank. At 2845 Ridge, the property has its own well and septic tank, with the septic system replaced in 2023. The 2905 Ridge building received a new roof in 2024 and has second-floor propane heat.
Key Highlights
- Six 2‑bedroom dwelling units across three structures on one parcel
- 6.8 acres
- 2903 Ridge: shared well and septic tank, new roof, oil burner May 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,493
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,860
$1.5M
Cap Rate 7%
$1,049,900
$1.0M
Cap Rate 9%
$816,589
$816.6K
Market Conditions
NOI Build-Up for 5,641 SF
Gross rent
$142.2K $25.20/SF
− Vacancy
−$8.5K −$1.51/SF
EGI
$133.6K $23.69/SF
− OpEx
−$60.1K −$10.66/SF
NOI
$73.5K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,860
Cap Rate 7%
$1,049,900
Cap Rate 9%
$816,589
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$918.7K – $1.22M
NOI $73,493 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,600 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 21244, MD
38,015
Population
15,006
Households
2.5
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,696
Density / Sq Mi
$84,849
Median Household Income
$45,367
Median Earnings
$1,538
Median Rent
$271,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Three buildings contain six two-bedroom residences on a single parcel.
Where is this multifamily property located?
The property is located at 2903 Ridge Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Six 2‑bedroom dwelling units across three structures on one parcel; 6.8 acres; 2903 Ridge: shared well and septic tank, new roof, oil burner May 2026
