Historic Three-Unit Apartment
For Sale
$750,000
1700 Park Avenue, Baltimore, MD 21217
Three spacious residences combine historic architectural details with updated kitchens and baths, private outdoor space, and owner-occupant flexibility.
Property Size4,500 SF
Price / SF$166.67
Days on Market23
Property Features for 1700 Park Avenue
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
R
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2.5BA, 1 x 2BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,000
Amenities
private brick courtyard
in-unit laundry
No
Dishwasher, Dryer, Refrigerator, Stove, Washer, Water Heater - Tankless
Washer In Unit, Dryer In Unit, Has Laundry, Basement, Upper Floor
Double Hung, Wood Frame
2nd Kitchen, Crown Moldings, Skylight(s), Wainscotting, Wood Floors
No Pool
Patio(s)
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Compass
Listed By:
Jessica Dailey · License #600667
(443) 838-8204
Source:
Compass
Added: Sep 28
Changed: Oct 16
Last Checked: Oct 19 at 8:12AM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 1890, this Bolton Hill property contains three two-bedroom apartments, each with its own bath configuration. Original features include high ceilings, period mantels, crown molding, original railings, and a central staircase. Kitchen and bathroom updates provide modern functionality, and a newer tankless water heater serves the building. A brick courtyard offers shared outdoor space. The first- and second-floor apartments are vacant; the property is currently held as three condominium units under common ownership, with the owners working toward conversion to a three-unit multifamily property with Baltimore City.
Apartment sizes range from approximately 1,021 to 1,156 square feet. Laundry is in the basement for the garden-level residence and in-unit for the other two apartments. Cooling is provided by window units. Two off-street garage parking spaces serve the second- and third-floor units. The building occupies a corner setting opposite two parks and Park Avenue fountains, with views toward a historic church. Penn Station, MICA, Mount Vernon, Station North, Downtown Baltimore, Johns Hopkins, restaurants, cultural institutions, and major commuter routes are among the nearby destinations identified for the property.
Apartment sizes range from approximately 1,021 to 1,156 square feet. Laundry is in the basement for the garden-level residence and in-unit for the other two apartments. Cooling is provided by window units. Two off-street garage parking spaces serve the second- and third-floor units. The building occupies a corner setting opposite two parks and Park Avenue fountains, with views toward a historic church. Penn Station, MICA, Mount Vernon, Station North, Downtown Baltimore, Johns Hopkins, restaurants, cultural institutions, and major commuter routes are among the nearby destinations identified for the property.
Key Highlights
- Three two‑bedroom apartments in a historic building constructed in 1890
- Apartment areas are approximately 1,021, 1,117, and 1,156 square feet
- Two off‑street garage parking spaces serve Units 2 and 3
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,084
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,321,680
$1.3M
Cap Rate 7%
$944,057
$944.1K
Cap Rate 9%
$734,267
$734.3K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$99.9K $22.20/SF
− Vacancy
−$5.5K −$1.22/SF
EGI
$94.4K $20.98/SF
− OpEx
−$28.3K −$6.29/SF
NOI
$66.1K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,321,680
Cap Rate 7%
$944,057
Cap Rate 9%
$734,267
Alternative Uses
Best Use
Multifamily LT 5
$944.1K
$826.1K – $1.10M
NOI $66,084 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$837.5K
$732.9K – $977.1K
NOI $58,628 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$1.08M
$943.3K – $1.26M
NOI $75,465 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three spacious residences combine historic architectural details with updated kitchens and baths, private outdoor space, and owner-occupant flexibility.
Where is this triplex located?
The property is located at 1700 Park Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three two‑bedroom apartments in a historic building constructed in 1890; Apartment areas are approximately 1,021, 1,117, and 1,156 square feet; Two off‑street garage parking spaces serve Units 2 and 3
