Turnkey Eight-Unit Multifamily
4008 Primrose Avenue Baltimore, MD 21215
For Sale
$474,950
Turnkey eight-unit brick apartment building with updated windows, multiple gas furnaces, and rear off-street parking.
Property Size2,840 SF
Price / SF$167.24
Days on Market165
Property Features for 4008 Primrose Avenue
General Information
- Standard status
- Active
- Size
- 2,840 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1940
Listing Agency:
EXP Realty, LLC
(410) 322-0184
Listed By:
Yevgeny Drubetskoy
(410) 322-0184
Source:
Xome
Added: Feb 9
Changed: Jul 23
Last Checked: Jul 23 at 6:28PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Turnkey, end-of-group eight-unit brick apartment building offering a mix of four studio apartments and four one-bedroom, one-bath units. The property is currently licensed for six dwelling units and is zoned R-4. Gross living space is approximately 2,480± square feet. Roof systems include a rubber roof on the main structure and an asphalt shingle roof covering the hallway addition. Many windows have been updated with vinyl replacements.
The building includes a gravel parking area at the rear with off-street parking for up to eight vehicles. Heating is provided by six Goodman gas furnaces serving the original units, plus a heat pump for two newer apartments. Most units also have window air-conditioning. Hot water is supplied by six Rheem gas water heaters and one electric Rheem unit.
Unit finishes feature in-unit stacked washer/dryers in most apartments, with Units B3 and 1B sharing a common washer/dryer. Each apartment has a full kitchen with a gas range and refrigerator, updated bath vanities, and either shower stalls or cast-iron tubs. Flooring is primarily luxury vinyl plank or tile. Utilities are configured with seven electric meters and six gas meters, and plumbing uses C-PVC supply lines and PVC drain lines. Lead documentation includes five lead-free certifications and three full risk-reduction certificates in compliance with MDE requirements.
The building includes a gravel parking area at the rear with off-street parking for up to eight vehicles. Heating is provided by six Goodman gas furnaces serving the original units, plus a heat pump for two newer apartments. Most units also have window air-conditioning. Hot water is supplied by six Rheem gas water heaters and one electric Rheem unit.
Unit finishes feature in-unit stacked washer/dryers in most apartments, with Units B3 and 1B sharing a common washer/dryer. Each apartment has a full kitchen with a gas range and refrigerator, updated bath vanities, and either shower stalls or cast-iron tubs. Flooring is primarily luxury vinyl plank or tile. Utilities are configured with seven electric meters and six gas meters, and plumbing uses C-PVC supply lines and PVC drain lines. Lead documentation includes five lead-free certifications and three full risk-reduction certificates in compliance with MDE requirements.
Key Highlights
- Eight‑unit brick multifamily in Baltimore City (Glen neighborhood) with gross scheduled annual income of $84,588
- Unit mix includes four studio units and four one‑bedroom, one‑bath units; property licensed for six dwelling units and zoned R‑4
- Approximately 2,480± SF gross living space and end‑of‑group configuration
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $23.28 |
| − Vacancy | −$4.8k | −$1.68 |
| EGI | $61.4k | $21.60 |
| − OpEx | −$27.6k | −$9.72 |
| NOI | $33.7k | $11.88 |
2,840 SF · lease $23.28/SF/yr · vacancy 7.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$482.1K
$421.8K – $562.4K
NOI $33,745 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.1K
$592.5K – $789.9K
NOI $47,396 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Turnkey eight-unit brick apartment building with updated windows, multiple gas furnaces, and rear off-street parking.
Where is this apartment building located?
The property is located at 4008 Primrose Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $474,950.
What are key features of this property?
This property features: Eight‑unit brick multifamily in Baltimore City (Glen neighborhood) with gross scheduled annual income of $84,588; Unit mix includes four studio units and four one‑bedroom, one‑bath units; property licensed for six dwelling units and zoned R‑4; Approximately 2,480± SF gross living space and end‑of‑group configuration
