Luxury Mixed-Use Apartment
For Sale
$750,000
2-4 E Preston Street, Baltimore, MD 21202
13-unit apartment building with a vacant ground-floor retail space, modern in-unit finishes, and separately metered utilities.
Property Size10,040 SF
Price / SF$74.70
Days on Market64
Property Features for 2-4 E Preston Street
General Information
Standard status
Active
Size
10,040 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
12
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Alex Cooper Auctioneers, Inc.
(410) 977-4711
Listed By:
Matthew Cooper · License #594308
(410) 977-4711
Source:
Xome
Added: May 28
Changed: Jul 10
Last Checked: Jul 30 at 2:54AM
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 Alex Cooper Auctioneers, Inc.
Investment Insights
Based on property information with market context.
Preston Street Lofts is a luxury 13-unit mixed-use building featuring 12 apartment units and one ground-floor retail unit. Apartments include stainless steel kitchen appliances, granite countertops, soft-close cabinetry, and new hardwood flooring, with double vanity bathrooms and expansive 9-foot ceilings across a variety of floor plans. Select layouts include dual entryways in the two-bedroom units. Each unit has its own washer/dryer. Heating and cooling are provided by mini split systems, and every unit is separately metered for gas and electric. Visitor access is controlled through key fob entry and a keypad/intercom at the front entrance, and the property is designated as Lead Free.
The building has a current gross monthly scheduled rent of $11,780 and current annual gross scheduled rent of $141,360. Unit-level rent roll information includes multiple studio units currently rented and one studio unit currently vacant, along with an apartment unit mix that includes two-bedroom units. The ground-floor commercial unit is currently vacant and was previously leased for $3,811 per month. The property also notes approximately three years of CHAP credit remaining on real estate taxes, and the owners self-manage trash removal.
From an operator perspective, this asset offers a blend of apartment income and a street-level retail component, with individual metering and in-unit laundry to support day-to-day resident convenience. The current rent roll includes utility reimbursement and, where applicable, pet rent. Projected figures provided with the offering indicate potential monthly and annual gross scheduled rent higher than the current totals, subject to new ownership decisions.
The building has a current gross monthly scheduled rent of $11,780 and current annual gross scheduled rent of $141,360. Unit-level rent roll information includes multiple studio units currently rented and one studio unit currently vacant, along with an apartment unit mix that includes two-bedroom units. The ground-floor commercial unit is currently vacant and was previously leased for $3,811 per month. The property also notes approximately three years of CHAP credit remaining on real estate taxes, and the owners self-manage trash removal.
From an operator perspective, this asset offers a blend of apartment income and a street-level retail component, with individual metering and in-unit laundry to support day-to-day resident convenience. The current rent roll includes utility reimbursement and, where applicable, pet rent. Projected figures provided with the offering indicate potential monthly and annual gross scheduled rent higher than the current totals, subject to new ownership decisions.
Key Highlights
- 13‑unit building with 12 apartment units and 1 ground‑floor retail unit; retail unit currently vacant (was leased for $3,811/mo).
- Current gross scheduled rent: $11,780/month and $141,360/year; potential new ownership income listed at $18,615/month and $223,380/year.
- Newer in‑unit features include stainless steel appliances, granite counters, soft‑close cabinetry, new hardwood flooring, and double‑vanity bathrooms.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - 13-unit apartment building with a vacant ground-floor retail space, modern in-unit finishes, and separately metered utilities.
Where is this apartment building located?
The property is located at 2-4 E Preston Street 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: 13‑unit building with 12 apartment units and 1 ground‑floor retail unit; retail unit currently vacant (was leased for $3,811/mo).; Current gross scheduled rent: $11,780/month and $141,360/year; potential new ownership income listed at $18,615/month and $223,380/year.; Newer in‑unit features include stainless steel appliances, granite counters, soft‑close cabinetry, new hardwood flooring, and double‑vanity bathrooms.
