Bolton Hill Four-Unit Multifamily
For Sale
$669,000
1514 W MOUNT ROYAL Avenue, Baltimore, MD 21217
MULTI_FAMILY - Other - BALTIMORE, MD
Property Size4,344 SF
Lot Size0.06 Acres
Price / SF$154.01
Days on Market175
Property Features for 1514 W MOUNT ROYAL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Interior features
Wood Floors
Fireplace
1
Subdivision
BOLTON HILL HISTORIC DISTRICT
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
4,344 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
11701
Utilities
Heating system
Heat Pump (Heating), Forced Air, Other (Heating)
Building Details
Year built
1880
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Cottage Street Realty LLC
(703) 242-0005
Listed By:
Alexandra I Burrell-Hodges · License #609427
(703) 819-1023
Added: Feb 6
Changed: Jul 13
Last Checked: Jul 31 at 11:06AM
MLS# MDBA2200012
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied 4-unit property is located in the Bolton Hill neighborhood. The property is situated directly across from MICA and within walking distance of Penn Station, providing access to the Hopkins Shuttle, MARC Train to Washington, DC, and Amtrak service to Philadelphia and NYC. The property is suitable for an owner-occupant or investor, with the potential to live in one unit and rent the others. All units have been renovated with updated kitchens and baths. The unit mix includes a first-floor 2BR/1BA, a second-floor 1BR/1BA, and two top-floor units consisting of a front 1BR/1BA and a rear studio. Additional features include an unfinished basement, a newly fenced rear yard, and parking for two cars. The owner pays for gas heat and hot water. The top-floor units are all-electric, with tenant-paid heat. Window A/C units are installed throughout. The property is located in a walkable community known for its historic architecture and proximity to Midtown amenities. The property is subject to a Midtown Special Benefits District Surcharge Tax of $603.10 annually. The lot size is 0.062 acres and the property size is 4344 square feet.
Key Highlights
- Brick 4‑unit property (built 1880) with wood floors and off‑street parking
- Unit mix: one 2BR/1BA on the first floor, one 1BR/1BA on the second floor, plus two top‑floor units (front 1BR/1BA and rear studio)
- All units renovated with updated kitchens and baths
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 | $109.5k | $25.20 |
| − Vacancy | −$6.6k | −$1.51 |
| EGI | $102.9k | $23.69 |
| − OpEx | −$46.3k | −$10.66 |
| NOI | $56.6k | $13.03 |
4,344 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$911.3K
$797.4K – $1.06M
NOI $63,793 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$808.5K
$707.4K – $943.3K
NOI $56,595 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$1.04M
$910.6K – $1.21M
NOI $72,849 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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?
Quadplex - Fully occupied, renovated 4-unit property in prime Bolton Hill location.
Where is this quadplex located?
The property is located at 1514 W MOUNT ROYAL Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Brick 4‑unit property (built 1880) with wood floors and off‑street parking; Unit mix: one 2BR/1BA on the first floor, one 1BR/1BA on the second floor, plus two top‑floor units (front 1BR/1BA and rear studio); All units renovated with updated kitchens and baths
