Baltimore Multifamily Investment
For Sale
$865,000
3901 GROVELAND Ave, Baltimore, MD 21215
Solid 10-unit apartment building with significant income upside.
Property SizeContact for details
Lot Size0.50 Acres
Days on Market152
Property Features for 3901 GROVELAND Ave
General Information
Standard status
Active
Lot size
0.50 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,974
Building Details
Year Built
1969
Units
10
Listing Agency:
(202) 489-8666
Listed By:
Akindele L Ajakaiye · License #605649
(202) 489-8666
Source:
Elliman
Added: Mar 24
Changed: Aug 9
Last Checked: Aug 21 at 11:29AM
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 Akindele L Ajakaiye
Investment Insights
Based on property information with market context.
Located in the West Arlington neighborhood of Baltimore, 3901 Groveland Ave is a 10-unit apartment building constructed of brick. The property is currently operating at 90% occupancy, generating $8,355 per month. Existing leases are largely at-will, allowing for immediate adjustments to market rental rates. Each unit features two bedrooms, one bathroom, a living room, a dining room, a kitchen, and hardwood-style floors. On-site laundry facilities, off-street parking, and professional management are in place. There is an additional unit on the lower level that can be converted to increase value. The property is currently cash-flowing with a 4.95% cap rate.
Key Highlights
- Significant income upside with in‑place rents averaging $928/unit compared to a market rate of $1,478/month, representing over $66,000 in potential annual income.
- Cash‑flowing 10‑unit apartment building with 90% occupancy, generating $8,355/month from day one.
- Opportunity to increase NOI to $97,000–$137,000+ by renovating and stabilizing all 10 units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 21215, MD
54,198
Population
24,876
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
84%
High-School Grad
6.8 sq mi
ZIP Area
7,970
Density / Sq Mi
$47,606
Median Household Income
$37,670
Median Earnings
$1,177
Median Rent
$189,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Solid 10-unit apartment building with significant income upside.
Where is this apartment building located?
The property is located at 3901 GROVELAND Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Significant income upside with in‑place rents averaging $928/unit compared to a market rate of $1,478/month, representing over $66,000 in potential annual income.; Cash‑flowing 10‑unit apartment building with 90% occupancy, generating $8,355/month from day one.; Opportunity to increase NOI to $97,000–$137,000+ by renovating and stabilizing all 10 units.
