Historic Annapolis Triplex
165 King George Street Annapolis, MD 21401
165 King George Street, Annapolis, MD, 21401
$1,375,000
For Sale
$1,375,000
Three-unit property near the Naval Academy with furnished units.
Property Size2,649 SF
Price / SF$519.06
Days on Market248
Property Features for 165 King George Street
General Information
- Standard status
- Active
- Size
- 2,649 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1904
Listing Agency
CENTURY 21 New Millennium
(410) 320-7600
Listed by
Michele M Michael · License #520013
(410) 320-7600
Source
Compass
Added: Nov 11, 2025 Checked: Jul 16 at 7:40 am
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
Located in the heart of historic Annapolis, this property presents multiple options. It could be converted back to a single-family home, or utilized as a multi-unit rental property with a combination of long-term and short-term rentals. Alternatively, it could serve as a residence for a single person or couple, with the other two units rented out, or accommodate a multi-generational family. The property features three fully finished above-grade levels. The basement level includes storage, HVAC, and a shared laundry area. All units are fully furnished, including kitchen appliances, dishware, glassware, beds, linens, and furniture. The property is located steps away from the Naval Academy. The main level entry provides access to the main level unit (Apartment 1), the basement, and a stairwell to the upper-level units. Apartment 1 includes a foyer, eat-in kitchen, full bath, living room, bedroom, and access to a rear fenced patio. Apartment 2, on the second level, features a living room, kitchen, bath, two bedrooms, and access to the rear patio area. The third upper level offers a full bath, galley kitchen, bedroom, and a large living area. All three units retain their original charm with modern components and feature high ceilings. The property is located within Annapolis city limits and is part of the ANNE ARUNDEL COUNTY PUBLIC SCHOOLS district.
Key Highlights
- Versatile property with multiple rental/living configurations (single‑family, multi‑unit rental, multi‑generational).
- Prime location: steps away from the Naval Academy in Historic Annapolis.
- Fully furnished units, including kitchen appliances, dishware, linens, and furniture.
Local Financial Insights For Multifamily LT 5
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 | $58.8k | $22.20 |
| − Vacancy | −$3.8k | −$1.44 |
| EGI | $55.0k | $20.76 |
| − OpEx | −$16.5k | −$6.23 |
| NOI | $38.5k | $14.53 |
2,649 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$549.9K
$481.1K – $641.5K
NOI $38,490 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$510.7K
$446.9K – $595.9K
NOI $35,751 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$774.9K
$678.0K – $904.1K
NOI $54,243 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property near the Naval Academy with furnished units.
Where is this triplex located?
The property is located at 165 King George Street Annapolis, MD.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Versatile property with multiple rental/living configurations (single‑family, multi‑unit rental, multi‑generational).; Prime location: **steps away from the Naval Academy in Historic Annapolis.**; **Fully furnished units**, including kitchen appliances, dishware, linens, and furniture.
