Renovated Triplex Income
805 SPA Road Annapolis, MD 21401
For Sale
$1,198,000
MULTI_FAMILY - Colonial - ANNAPOLIS, MD
Property Size2,800 SF
Lot Size0.23 Acres
Price / SF$427.86
Days on Market112
Property Features for 805 SPA Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement, Dining Room
Parking
8
Parking features
Off Street, Parking Lot
Interior features
2nd Kitchen, Bathroom - Stall Shower, Bathroom - Walk-In Shower, Breakfast Area, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Dining Area, Entry Level Bedroom, Kitchen - Eat-In, Primary Bath(s), Sprinkler System, Store/Office, Upgraded Countertops, Window Treatments, Wood Floors
Appliances
Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer - Electric, Exhaust Fan, Icemaker, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Stove, Washer
Standard status
Active
Size
2,800 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
5051
Utilities
Heating system
Baseboard, Forced Air, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Window Unit(s)
Building Details
Year built
1948
Number of units
3
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
Bennett Realty Solutions
(301) 459-5040
Listed By:
Stephanie G Henry · License #502000
(301) 675-4259
Added: Apr 10
Changed: Jul 14
Last Checked: Jul 30 at 4:06AM
MLS# MDAA2141884
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.
805 Spa Road is a renovated triplex offering three separate units under one roof. The property features a fully renovated interior with new wiring and plumbing, new flooring throughout, and an enclosed porch with new windows. Improvements include 3 new kitchens and 4.5 new baths, granite countertops, stainless steel appliances, and a new HVAC system. Additional building systems include a sprinkler system for all units and a new hot water heater for the second unit.
The configuration includes separate entrances for each unit. Unit 1 provides 4 bedrooms and 2.5 bathrooms. Unit 2 (in the back) offers 3 bedrooms and 1 bathroom. The basement includes 2 bedrooms and 1 bathroom. The property also has ample on-site parking for up to 8 cars.
Set on an approximately 0.23-acre lot, this income-producing triplex in Annapolis, Maryland is presented for sale as a multi-unit residential property.
The configuration includes separate entrances for each unit. Unit 1 provides 4 bedrooms and 2.5 bathrooms. Unit 2 (in the back) offers 3 bedrooms and 1 bathroom. The basement includes 2 bedrooms and 1 bathroom. The property also has ample on-site parking for up to 8 cars.
Set on an approximately 0.23-acre lot, this income-producing triplex in Annapolis, Maryland is presented for sale as a multi-unit residential property.
Key Highlights
- 3‑unit triplex with 9 bedrooms and 4.5 bathrooms, including separate entrances for each unit
- Unit mix: Unit 1 (4 beds, 2.5 baths), Unit 2 (3 beds, 1 bath), and basement (2 beds, 1 bath)
- Completely renovated with new wiring and plumbing, 3 new kitchens, and 4.5 new baths
Financial Insights For Multifamily LT 5
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 | $62.2k | $22.20 |
| − Vacancy | −$4.0k | −$1.44 |
| EGI | $58.1k | $20.76 |
| − OpEx | −$17.4k | −$6.23 |
| NOI | $40.7k | $14.53 |
2,800 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$581.2K
$508.6K – $678.1K
NOI $40,684 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$539.8K
$472.4K – $629.8K
NOI $37,789 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$819.1K
$716.7K – $955.6K
NOI $57,335 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Completely renovated triplex with three units, separate entrances, new kitchens, baths, HVAC, and sprinkler system.
Where is this triplex located?
The property is located at 805 SPA Road Annapolis, MD.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: 3‑unit triplex with 9 bedrooms and 4.5 bathrooms, including separate entrances for each unit; Unit mix: Unit 1 (4 beds, 2.5 baths), Unit 2 (3 beds, 1 bath), and basement (2 beds, 1 bath); Completely renovated with new wiring and plumbing, 3 new kitchens, and 4.5 new baths
