Waterfront Residential Income
For Sale
$120,000
23 PIERSIDE DRIVE Unit 124, Baltimore, MD 21230
The unit has an updated kitchen, garage parking, and access to extensive shared resident amenities.
Property Size832 SF
Days on Market8
Property Features for 23 PIERSIDE DRIVE Unit 124
General Information
Standard status
Active
Size
832 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Key Highway
Highway Access
Yes
Additional Details
HOA Fee
$678.54
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,755
Amenities
24-hour front desk concierge service
on-site security
two fitness centers
outdoor swimming pool
resident lounge
business center
conference room
landscaped grounds
water fountains
garden seating areas
brick-paved walking and jogging paths
outdoor grilling area
fire pit
bike storage
guest parking
garage parking
Building Details
Building Size
832 SF
Year Built
2005
Listing Agency:
Redfin Corp
Listed By:
mohamed Eltouny · License #5018827
(417) 270-1974
Source:
Thehulsmangroup
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 28 at 4:21PM
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 Redfin Corp
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Investment Insights
Based on property information with market context.
This residential property is a condominium unit in Baltimore’s HarborView community, built in 2005. The kitchen has been updated with stainless steel appliances, generous counter space, and substantial cabinetry. Recessed lighting and garage parking are also part of the unit’s features.
Community amenities include a 24-hour front desk, on-site security, two fitness centers, an outdoor pool, a resident lounge, a business center, and a conference room. Grounds include landscaped seating areas, fountains, paved walking and jogging paths, an outdoor grilling area, and a fire pit. Bike storage and guest parking are available as well.
The property is steps from the waterfront promenade and marina, with dining and entertainment nearby. Harborview Marina, Federal Hill, and the Inner Harbor are also close by, and I-95 provides access to regional commuter routes.
Community amenities include a 24-hour front desk, on-site security, two fitness centers, an outdoor pool, a resident lounge, a business center, and a conference room. Grounds include landscaped seating areas, fountains, paved walking and jogging paths, an outdoor grilling area, and a fire pit. Bike storage and guest parking are available as well.
The property is steps from the waterfront promenade and marina, with dining and entertainment nearby. Harborview Marina, Federal Hill, and the Inner Harbor are also close by, and I-95 provides access to regional commuter routes.
Key Highlights
- Condominium unit in HarborView, built in 2005
- Updated kitchen with stainless steel appliances and extensive cabinetry
- Garage parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,840
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$216,800
$216.8K
Cap Rate 7%
$154,857
$154.9K
Cap Rate 9%
$120,444
$120.4K
Market Conditions
NOI Build-Up for 832 SF
Gross rent
$21.0K $25.20/SF
− Vacancy
−$1.3K −$1.51/SF
EGI
$19.7K $23.69/SF
− OpEx
−$8.9K −$10.66/SF
NOI
$10.8K $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%
$216,800
Cap Rate 7%
$154,857
Cap Rate 9%
$120,444
Alternative Uses
Best Use
Apartment 5plus
$154.9K
$135.5K – $180.7K
NOI $10,840 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.3K
$174.4K – $232.6K
NOI $13,953 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit has an updated kitchen, garage parking, and access to extensive shared resident amenities.
Where is this residential income property located?
The property is located at 23 PIERSIDE DRIVE Unit 124 Baltimore, MD.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Condominium unit in HarborView, built in 2005; Updated kitchen with stainless steel appliances and extensive cabinetry; Garage parking
