3701 Dolfield Ave Baltimore, MD 21215-6129
- Apartment buildings
- 51,128 SF
- 2.80 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3701 Dolfield Ave
- Year built
- 1965
- Construction
- BRICK
- Lot size
- 2.80 lot acres
- Property size
- 51,128 SF
- Zone code
- R-6
- Property type
- Apartment buildings
- APN
- 15-01-2952 -001
- APU
- 15012952001
Description
This exceptional investment opportunity presents a portfolio of six, three-story apartment buildings comprising 200 units in Baltimore, MD. The property, encompassing 7.84 acres, features a mix of one, two, and three-bedroom units, with a total square footage ranging from 30,000 to 77,197. Currently boasting a 97% occupancy rate and a 7.73% cap rate, this portfolio offers significant potential for value appreciation. Built in 1963 and 1965, the buildings are situated on multiple parcels (APN: 15-01-2952-001, 27-18-4804B-075, 27-18-4804B-030, 27-18-4804B-036, 27-18-4804B-028, 15-04-3031-020) and zoned R-5 and R-6. The asking price is $13,850,000, representing a price per unit of $69,250. The property includes surface parking lots and offers various value-add opportunities, including unit renovations (with potential for substantial rent increases), improved leasing strategies, and operational efficiency enhancements. Recent upgrades include electrical line upgrades in some units and the installation of web-enabled CCTV in select buildings. This portfolio presents a compelling opportunity for investors seeking strong returns in a desirable Baltimore location. The addresses include 3701 Dolfield Ave, 2800 Rosalind Ave, 2901 Rosalind Ave, 2910 Rosalind Ave, 2935 Rosalind Ave, and 2803 Elgin Ave, all in Baltimore, MD, zip codes 21215 and 21216.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,475,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,800,000
- 6.5%
- $2,850,000
- 7%
- $2,980,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,980,000
- Geo Method
- $3,055,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,905,000
- Retail
- $3,245,000
- Mixed-Use
- $2,520,000
- Hospitality
- $2,455,000
- Educational
- $2,740,000
- Residential Income
- $2,645,000
- Energy
- $3,055,000
- Income-Based Land
- $3,305,000
- Food Service
- $3,095,000
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore City
- State
- Maryland
- Longitude
- -76.6782
- Latitude
- 39.3377
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
