Gut-Renovated Multifamily
214 East Biddle Street Baltimore, MD 21202
214 East Biddle Street, Baltimore, MD, 21202
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For Sale
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Renovated small multifamily with studio and one-bedroom units near major Baltimore employment and transit.
Property Size3,259 SF
Price / SF$184.11
Days on Market56
Property Features for 214 East Biddle Street
General Information
- Standard status
- Active
- Size
- 3,259 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agency
Harbor Stone Advisors
Listed by
Kevin Landolphi · License #5019982
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 2:28PM
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 Harbor Stone Advisors
Investment Insights
Based on property information with market context.
214 East Biddle Street is a gut-renovated multifamily asset in Historic Mount Vernon featuring six apartments with a unit mix of one studio and five one-bedroom, one-bath residences. Ownership completed a comprehensive renovation in 2013, including updates to the apartments and the building’s plumbing and mechanical systems. Unit interiors include white appliances, formica countertops, and a mix of tile, carpet, and hardwood flooring, along with wood cabinets. Most units are project-based NEDs, with the contract expiring in October 2029, and one unit is not described as NED. At turn, the property also allows for light unit renovations, with a suggested scope that includes updated appliances and modern hardware and fixtures.
The property is described as a 7-minute walk from the University of Baltimore and about a half mile from the UMMC Midtown Campus. It is also presented as a 10-minute walk to Penn Station, which is undergoing renovations described as a $150 million project over the next several years.
For buyers and operators, the mix of studio and one-bedroom units can support tenant demand tied to nearby educational and medical employers, while the project-based NED structure offers a defined term through October 2029. Upon expiration, the property highlights options to renew the NED contract or convert the units to market, with light renovations available to refresh units during turnover.
The property is described as a 7-minute walk from the University of Baltimore and about a half mile from the UMMC Midtown Campus. It is also presented as a 10-minute walk to Penn Station, which is undergoing renovations described as a $150 million project over the next several years.
For buyers and operators, the mix of studio and one-bedroom units can support tenant demand tied to nearby educational and medical employers, while the project-based NED structure offers a defined term through October 2029. Upon expiration, the property highlights options to renew the NED contract or convert the units to market, with light renovations available to refresh units during turnover.
Key Highlights
- Gut‑renovated 6‑unit multifamily at 214 E Biddle (Historic Mount Vernon), built in 1900
- Unit mix: 1 studio and 5 one‑bedroom, 1‑bath apartments
- Comprehensive gut renovation completed in 2013, including updates to plumbing and mechanical systems
Local Financial Insights For Apartment 5plus
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 | $82.1k | $25.20 |
| − Vacancy | −$4.9k | −$1.51 |
| EGI | $77.2k | $23.69 |
| − OpEx | −$34.7k | −$10.66 |
| NOI | $42.5k | $13.03 |
3,259 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$606.6K
$530.8K – $707.7K
NOI $42,460 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$780.8K
$683.2K – $910.9K
NOI $54,654 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated small multifamily with studio and one-bedroom units near major Baltimore employment and transit.
Where is this apartment building located?
The property is located at 214 East Biddle Street Baltimore, MD.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Gut‑renovated 6‑unit multifamily at 214 E Biddle (Historic Mount Vernon), built in 1900; Unit mix: 1 studio and 5 one‑bedroom, 1‑bath apartments; Comprehensive gut renovation completed in 2013, including updates to plumbing and mechanical systems
