Turn-Key Multifamily Investment
For Sale
$599,900
1911 W Baltimore Street, Baltimore, MD 21223
Six-unit multifamily asset near downtown Baltimore with income potential.
Property Size3,500 SF
Price / SF$171.40
Days on Market191
Property Features for 1911 W Baltimore Street
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Zoning
R-8
Taxes and HOA fees
Annual Taxes
$4,505
Amenities
Natural Gas
Yes
Public
M
0.69
No
Estimated
On Street
4000.00
15000.00
Building Details
Year Built
1935
Listing Agency:
Coldwell Banker Realty
(856) 222-0077
Listed By:
Tyler Mecca
Source:
Thetristaterealestategroup
Added: Apr 3
Changed: Sep 30
Last Checked: Oct 9 at 6:22PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This is a fully operational six-unit multifamily property, presenting an investment opportunity with income potential. The well-maintained building features six one-bedroom, one-bath units. Each unit has functional layouts with living areas, full kitchens, bedrooms, and full baths. The units are separately metered for gas and electric. Central air and heat are installed throughout the building. A shared, coin-operated laundry facility is located in the basement. Currently, five of the six units are occupied, offering immediate cash flow. At full occupancy, the property is projected to generate approximately $6,500 per month in rental income. The property is located minutes from downtown Baltimore, with proximity to employment hubs, shopping centers, dining, and public transportation. The location supports consistent occupancy and future appreciation potential. The property is suitable for investors seeking a low-maintenance, income-producing asset with stability, scalability, and long-term growth. The bike score is 63, making it bikeable. The walk score is 91, indicating it is a walker's paradise. The transit score is 77, indicating excellent transit options.
Key Highlights
- Strong Income Potential: Projected to generate approximately $6,500 per month at full occupancy.
- Turn‑Key Investment: Well‑maintained with immediate cash flow from 5 of 6 units currently occupied.
- Separately Metered Units: All units are separately metered for gas & electric.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,599
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,980
$912.0K
Cap Rate 7%
$651,414
$651.4K
Cap Rate 9%
$506,656
$506.7K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$88.2K $25.20/SF
− Vacancy
−$5.3K −$1.51/SF
EGI
$82.9K $23.69/SF
− OpEx
−$37.3K −$10.66/SF
NOI
$45.6K $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%
$911,980
Cap Rate 7%
$651,414
Cap Rate 9%
$506,656
Alternative Uses
Best Use
Apartment 5plus
$651.4K
$570.0K – $760.0K
NOI $45,599 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$838.5K
$733.7K – $978.3K
NOI $58,695 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 21223, MD
20,438
Population
13,034
Households
1.6
Avg Household Size
37
Median Age
12%
College-Educated
75%
High-School Grad
2.6 sq mi
ZIP Area
7,861
Density / Sq Mi
$41,828
Median Household Income
$33,367
Median Earnings
$1,110
Median Rent
$93,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily asset near downtown Baltimore with income potential.
Where is this apartment building located?
The property is located at 1911 W Baltimore Street Baltimore, MD.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Strong Income Potential: Projected to generate approximately $6,500 per month at full occupancy.; Turn‑Key Investment: Well‑maintained with immediate cash flow from 5 of 6 units currently occupied.; Separately Metered Units: All units are separately metered for gas & electric.
