5-Unit Apartment
3600 GREENMOUNT AVENUE, Baltimore, MD 21218
For Sale
$460,000
A mix of occupied and vacant apartments offers both existing tenancy and space for renovation.
Property Size2,608 SF
Price / SF$176.38
Days on Market51
Property Features for 3600 GREENMOUNT AVENUE
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Utilities to Site
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Ben Frederick Realty, Inc.
(410) 235-9500
Listed By:
Will A Cannon III · License MD #657102
(410) 916-3331
Source:
Cummingsrealtors
Added: Sep 24
Changed: Nov 12
Last Checked: Nov 12 at 7:20AM
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 Ben Frederick Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 1919, this 2,608-square-foot apartment property contains five one-bedroom units: two larger apartments and three smaller ones. Three units are occupied, while two are vacant; the basement apartment requires a full gut renovation. The building also needs updates to kitchens, bathrooms, flooring, and paint. Roof work completed in 2026 included a natural slate roof and an EPDM membrane.
The property has three off-street parking spaces, six electric meters, six gas meters, and individual gas-fired water heaters. Tenants pay for electricity and gas used for cooking and hot water. In Baltimore’s Guilford neighborhood, the building is approximately 1.5 miles from Johns Hopkins University’s Homewood Campus, Loyola University Maryland, Notre Dame of Maryland University, MedStar Union Memorial Hospital, the Baltimore Museum of Art, and Hampden’s 36th Street commercial district.
The property has three off-street parking spaces, six electric meters, six gas meters, and individual gas-fired water heaters. Tenants pay for electricity and gas used for cooking and hot water. In Baltimore’s Guilford neighborhood, the building is approximately 1.5 miles from Johns Hopkins University’s Homewood Campus, Loyola University Maryland, Notre Dame of Maryland University, MedStar Union Memorial Hospital, the Baltimore Museum of Art, and Hampden’s 36th Street commercial district.
Key Highlights
- Five one‑bedroom apartments: two larger units and three smaller units
- Three occupied apartments and two vacant units, including a basement unit requiring a full gut renovation
- 2,608 square feet; built in 1919
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,257
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,140
$605.1K
Cap Rate 7%
$432,243
$432.2K
Cap Rate 9%
$336,189
$336.2K
Market Conditions
NOI Build-Up for 2,608 SF
Gross rent
$58.8K $22.56/SF
− Vacancy
−$3.8K −$1.47/SF
EGI
$55.0K $21.09/SF
− OpEx
−$24.8K −$9.49/SF
NOI
$30.3K $11.60/SF
Area
ZIP 21218
Vacancy
6.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,140
Cap Rate 7%
$432,243
Cap Rate 9%
$336,189
Alternative Uses
Best Use
Apartment 5plus
$432.2K
$378.2K – $504.3K
NOI $30,257 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.1K
$620.4K – $827.3K
NOI $49,635 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
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Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Baltimore, MD
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A mix of occupied and vacant apartments offers both existing tenancy and space for renovation.
Where is this apartment building located?
The property is located at 3600 GREENMOUNT AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Five one‑bedroom apartments: two larger units and three smaller units; Three occupied apartments and two vacant units, including a basement unit requiring a full gut renovation; 2,608 square feet; built in 1919
