Multi-Family Portfolio with 18
For Sale
Under Contract
$950,000
2306 WHITTIER Avenue, Baltimore, MD 21217
MULTI_FAMILY - Other - BALTIMORE, MD
Property Size2,580 SF
Price / SF$368.22
Days on Market131
Property Features for 2306 WHITTIER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Special listing conditions
In Foreclosure
Standard status
Active Under Contract
Size
2,580 SF
Taxes and HOA fees
Tax Annual Amount
1312
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Pavilion Real Estates L.L.C.
(202) 740-6708
Listed By:
Jason Ekus · License #653812
(202) 740-6708
Added: Apr 3
Changed: Jun 16
Last Checked: Aug 11 at 9:06PM
MLS# MDBA2209708
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale portfolio includes six multifamily buildings, with each building configured as a three-unit rental property for a total of 18 apartments. The package includes 2306, 2311, 2313, 2312, and 2315 Whittier Avenue, along with 2333 Reisterstown Road. At 2313 Whittier, only two units are currently occupied, and the remaining units are delivered vacant and ready for renovation.
The offering is located in Baltimore, Maryland 21217 within Baltimore City County. The buildings are presented together as a single bulk-sale opportunity, providing one ownership group across multiple nearby assets.
This property fits buyers and operators looking to manage and renovate a small portfolio of three-unit buildings under one ownership structure. With units at 2313 Whittier already vacant, it supports a straightforward repositioning plan for that building while maintaining rental operations in the two currently occupied units.
The offering is located in Baltimore, Maryland 21217 within Baltimore City County. The buildings are presented together as a single bulk-sale opportunity, providing one ownership group across multiple nearby assets.
This property fits buyers and operators looking to manage and renovate a small portfolio of three-unit buildings under one ownership structure. With units at 2313 Whittier already vacant, it supports a straightforward repositioning plan for that building while maintaining rental operations in the two currently occupied units.
Key Highlights
- Six‑building multifamily portfolio totaling 18 rental units: 2306, 2311, 2313, 2312, and 2315 Whittier Ave plus 2333 Reisterstown Rd.
- Each building contains three rental units, for a consistent 3‑unit building layout across the portfolio.
- At 2313 Whittier Ave, only two units are currently occupied; the remaining units are delivered vacant and ready for renovation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,888
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$757,760
$757.8K
Cap Rate 7%
$541,257
$541.3K
Cap Rate 9%
$420,978
$421.0K
Market Conditions
NOI Build-Up for 2,580 SF
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.
Gross rent
$57.3K $22.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$54.1K $20.98/SF
− OpEx
−$16.2K −$6.29/SF
NOI
$37.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$757,760
Cap Rate 7%
$541,257
Cap Rate 9%
$420,978
Alternative Uses
Best Use
Multifamily LT 5
$541.3K
$473.6K – $631.5K
NOI $37,888 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$480.2K
$420.2K – $560.2K
NOI $33,613 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$618.1K
$540.8K – $721.1K
NOI $43,267 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Six buildings totaling 18 rental units, including vacant units at one property ready for renovation.
Where is this triplex located?
The property is located at 2306 WHITTIER Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑building multifamily portfolio totaling 18 rental units: 2306, 2311, 2313, 2312, and 2315 Whittier Ave plus 2333 Reisterstown Rd.; Each building contains three rental units, for a consistent 3‑unit building layout across the portfolio.; At 2313 Whittier Ave, only two units are currently occupied; the remaining units are delivered vacant and ready for renovation.
