Furnished 3-Unit
For Sale
$1,200,000
165 King George St, Annapolis, MD 21401
Three finished levels include furnished apartments, shared laundry, basement storage, and a fenced rear patio.
Property Size2,649 SF
Price / SF$453
Days on Market88
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Property Features for 165 King George St
General Information
Standard status
Active
Size
2,649 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Amenities
shared laundry
patio
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
CENTURY 21 New Millennium
Listed By:
Michele M Michael · License #520013
(410) 384-9000
Source:
Gklegacygroup
Added: Jul 20
Changed: Oct 5
Last Checked: Oct 7 at 4:56PM
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.
This three-unit multifamily property includes apartments arranged across three finished above-grade levels, with a basement providing storage, HVAC equipment, and shared laundry. Each apartment conveys fully furnished, including kitchen appliances, dishware, glassware, beds, linens, and furniture.
The main-level apartment includes an eat-in kitchen, full bath, living room, bedroom, foyer, and access to a fenced rear patio. The second-floor apartment offers two bedrooms, a living room, kitchen, bath, and patio access. The upper apartment includes a bedroom, full bath, galley kitchen, and a large living area. High ceilings and period character are paired with modern components. The property is located steps from the Naval Academy in Historic Annapolis.
The main-level apartment includes an eat-in kitchen, full bath, living room, bedroom, foyer, and access to a fenced rear patio. The second-floor apartment offers two bedrooms, a living room, kitchen, bath, and patio access. The upper apartment includes a bedroom, full bath, galley kitchen, and a large living area. High ceilings and period character are paired with modern components. The property is located steps from the Naval Academy in Historic Annapolis.
Key Highlights
- Three fully furnished apartment units convey with appliances, furniture, beds, linens, and household items
- Three finished above‑grade levels with basement storage, HVAC, and shared laundry
- Main‑level unit includes one bedroom, eat‑in kitchen, full bath, living room, and fenced rear patio access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,490
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$769,800
$769.8K
Cap Rate 7%
$549,857
$549.9K
Cap Rate 9%
$427,667
$427.7K
Market Conditions
NOI Build-Up for 2,649 SF
Gross rent
$58.8K $22.20/SF
− Vacancy
−$3.8K −$1.44/SF
EGI
$55.0K $20.76/SF
− OpEx
−$16.5K −$6.23/SF
NOI
$38.5K $14.53/SF
Area
Anne Arundel County, MD
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$769,800
Cap Rate 7%
$549,857
Cap Rate 9%
$427,667
Alternative Uses
Best Use
Multifamily LT 5
$549.9K
$481.1K – $641.5K
NOI $38,490 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$510.7K
$446.9K – $595.9K
NOI $35,751 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$774.9K
$678.0K – $904.1K
NOI $54,243 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three finished levels include furnished apartments, shared laundry, basement storage, and a fenced rear patio.
Where is this triplex located?
The property is located at 165 King George St Annapolis, MD.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three fully furnished apartment units convey with appliances, furniture, beds, linens, and household items; Three finished above‑grade levels with basement storage, HVAC, and shared laundry; Main‑level unit includes one bedroom, eat‑in kitchen, full bath, living room, and fenced rear patio access
