706 Park Ave Baltimore, MD 21201

Property Details for 706 Park Ave

Year built

1900

Property type

Commercial real estate

APN

11-10-0522-035

Description

This fee-simple owned, 11-unit apartment building at 706 Park Avenue in Baltimore, MD, presents a compelling investment opportunity. The property, built in 1900, comprises 7,719 square feet across three stories and sits on a 3,068 square foot lot (APN: 11-10-0522-035). The unit mix includes two studios, seven one-bedroom/one-bathroom units, and two two-bedroom/two-bathroom units, averaging approximately 702 square feet each. Currently vacant, this property offers significant value-add potential. Located in the rapidly growing Mount Vernon neighborhood (93% renter-occupied), it benefits from its proximity to three major universities (University of Baltimore, Maryland Institute College of Art, and Peabody Institute of Johns Hopkins University), creating consistent rental demand. The convenient location also provides easy access to Baltimore Penn Station, I-83, I-95, and numerous amenities including Safeway, CVS, PNC Bank, Starbucks, and various gyms. The property's location within a CHAP District makes it eligible for a 10-year, 100% tax credit on increased assessed value from renovations, further enhancing its investment appeal. The vibrant neighborhood offers residents access to cultural attractions, dining, nightlife, and shopping, all within walking distance. This property is available for purchase individually or as part of a larger portfolio.