Renovated Triplex with Detached
New
For Sale
$399,900
3307 BATEMAN AVENUE, Baltimore, MD 21216
Three apartments have distinct bedroom and bath configurations, with one leased month to month and two available for occupancy.
Property Size2,700 SF
Price / SF$148.11
Days on Market5
Property Features for 3307 BATEMAN AVENUE
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
3
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1918
Buildings
2
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Elizabeth Keyser · License #5014961
(443) 454-5322
Source:
Cummingsrealtors
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:36AM
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 LPT Realty, LLC
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Investment Insights
Based on property information with market context.
This renovated triplex contains 2,700 square feet across three apartments. The first-floor residence has two bedrooms and two full bathrooms; the second-floor unit has three bedrooms and one full bathroom; and the third-floor apartment has one bedroom and one full bathroom. A detached three-car garage is also part of the property. Built in 1918, the building combines varied apartment layouts with separate garage space.
The second-floor apartment is occupied under a month-to-month arrangement. The first- and third-floor units are vacant. These differing occupancy statuses provide a clear picture of the current configuration across the three units.
The second-floor apartment is occupied under a month-to-month arrangement. The first- and third-floor units are vacant. These differing occupancy statuses provide a clear picture of the current configuration across the three units.
Key Highlights
- Renovated triplex with 2,700 square feet
- Detached three‑car garage
- First‑floor unit: 2 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,177
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$703,540
$703.5K
Cap Rate 7%
$502,529
$502.5K
Cap Rate 9%
$390,856
$390.9K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$68.0K $25.20/SF
− Vacancy
−$4.1K −$1.51/SF
EGI
$64.0K $23.69/SF
− OpEx
−$28.8K −$10.66/SF
NOI
$35.2K $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%
$703,540
Cap Rate 7%
$502,529
Cap Rate 9%
$390,856
Alternative Uses
Best Use
Multifamily LT 5
$566.4K
$495.6K – $660.8K
NOI $39,650 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$502.5K
$439.7K – $586.3K
NOI $35,177 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$646.8K
$566.0K – $754.7K
NOI $45,279 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
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Business Placement
Demographics for 21216, MD
27,729
Population
15,613
Households
1.8
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
8,403
Density / Sq Mi
$46,440
Median Household Income
$36,634
Median Earnings
$1,160
Median Rent
$148,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments have distinct bedroom and bath configurations, with one leased month to month and two available for occupancy.
Where is this triplex located?
The property is located at 3307 BATEMAN AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Renovated triplex with 2,700 square feet; Detached three‑car garage; First‑floor unit: 2 bedrooms and 2 full bathrooms
