11-Unit Apartment Building
For Sale
$900,000
814 Park Ave, Baltimore, MD 21201
Multifamily asset with 4 studio and 7 one-bedroom units, plus a 4-car parking pad behind the building.
Property Size6,000 SF
Days on Market119
Property Features for 814 Park Ave
General Information
Standard status
Active
Size
6,000 SF
Class
C
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
11
Building Details
Building Size
6,000 SF
Year Built
1900
Units
11
Tenancy
Multi
Listing Agency:
Harbor Stone Advisors
Listed By:
Justin Verner · License #630799
Source:
Commercialcafe
Added: Jun 25
Changed: Oct 19
Last Checked: Oct 20 at 5:34PM
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 Harbor Stone Advisors
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Investment Insights
Based on property information with market context.
814 Park is an 11-unit apartment building with a mix of four studio units and seven 1-bedroom, 1-bath units. Typical unit finishes include white appliances, granite countertops, wood cabinets, and hardwood, ceramic tile, or vinyl flooring. The property also includes a parking pad behind the building with space for 4 cars.
The asset is positioned in Historic Mount Vernon and is just blocks from the University of Maryland Medical Center (UMMC) Midtown Campus, with the Peabody Institute of The Johns Hopkins University about a 7-minute walk away. Access to public transportation includes a nearby LightRail Station less than a half-mile from the property, and a Subway Station less than one mile away.
The offering presents value-add opportunities including the ability to lightly renovate all units, with a suggested scope of stainless steel appliances, modern hardware and fixtures, and plank flooring. There is also an opportunity to cut the central boiler and install HVAC systems, making gas a direct tenant expense. Additional opportunities cited include implementing a water reimbursement program upon renewal or new lease and monetizing the existing off-street parking, along with potential to create 4 additional parking spaces behind the building where a garage was torn down.
The asset is positioned in Historic Mount Vernon and is just blocks from the University of Maryland Medical Center (UMMC) Midtown Campus, with the Peabody Institute of The Johns Hopkins University about a 7-minute walk away. Access to public transportation includes a nearby LightRail Station less than a half-mile from the property, and a Subway Station less than one mile away.
The offering presents value-add opportunities including the ability to lightly renovate all units, with a suggested scope of stainless steel appliances, modern hardware and fixtures, and plank flooring. There is also an opportunity to cut the central boiler and install HVAC systems, making gas a direct tenant expense. Additional opportunities cited include implementing a water reimbursement program upon renewal or new lease and monetizing the existing off-street parking, along with potential to create 4 additional parking spaces behind the building where a garage was torn down.
Key Highlights
- 11‑unit multifamily with (4) studios and (7) 1 bed, 1 bath units
- Parking pad behind the building for 4 cars; potential to add 4 more spaces where a garage was torn down
- Value‑add unit features include white appliances, granite countertops, wood cabinets, and hardwood/ceramic tile/vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,170
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,400
$1.6M
Cap Rate 7%
$1,116,714
$1.1M
Cap Rate 9%
$868,556
$868.6K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$151.2K $25.20/SF
− Vacancy
−$9.1K −$1.51/SF
EGI
$142.1K $23.69/SF
− OpEx
−$64.0K −$10.66/SF
NOI
$78.2K $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%
$1,563,400
Cap Rate 7%
$1,116,714
Cap Rate 9%
$868,556
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.1K – $1.30M
NOI $78,170 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,620 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 21201, MD
18,382
Population
11,468
Households
1.6
Avg Household Size
34
Median Age
47%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
14,140
Density / Sq Mi
$44,722
Median Household Income
$44,239
Median Earnings
$1,282
Median Rent
$221,900
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?
Apartment building - Multifamily asset with 4 studio and 7 one-bedroom units, plus a 4-car parking pad behind the building.
Where is this apartment building located?
The property is located at 814 Park Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 11‑unit multifamily with (4) studios and (7) 1 bed, 1 bath units; Parking pad behind the building for 4 cars; potential to add 4 more spaces where a garage was torn down; Value‑add unit features include white appliances, granite countertops, wood cabinets, and hardwood/ceramic tile/vinyl flooring
