412 Washington St Baltimore, MD 21231

Exceptional investment opportunity in Baltimore, MD! This three-unit, Class B multifamily property, located at 412 N Washington St, 21231, boasts a prime location adjacent to the Johns Hopkins medical campus. Completely renovated in 2023, the 1,152 square foot building offers 1,728 square feet of net rentable space, currently achieving 100% occupancy with a projected occupancy date of September 21, 2024. The property features three bedrooms across three units and one off-street parking space. Generating a substantial net operating income (NOI) of $36,689 annually, this property offers a compelling 10.48% cap rate. The asking price is $350,000, translating to $116,667 per unit. The property is zoned C2, and potential first-time homebuyer grants of up to $70,000 may be available. The seller has invested over $100,000 in permitted improvements. High rental demand from Johns Hopkins students, researchers, and nurses ensures consistent cash flow and potential for future rent increases. This fee-simple ownership presents a strong opportunity for both owner-occupants and investors seeking a high-return property in a desirable location. Buyer to conduct their own due diligence regarding zoning regulations.