723 Saint Paul St, Baltimore, MD 21202-2311

This historic five-story building, located at 723 Saint Paul Street in Baltimore, Maryland's vibrant Mt. Vernon neighborhood, presents a compelling value-add investment opportunity. Currently operating as a 21-room hotel with a manager's apartment, laundry facilities, storage, and common areas, the 12,000 square foot property offers significant upside potential. The asking price is $1,700,000, translating to $141.67 per square foot and $77,272.73 per unit. Built in 1900, the property is zoned OR-3 and boasts a prime location near several colleges, making it ideal for either continued operation as a boutique hotel or conversion into a multi-family residential building. The existing structure offers 22 units. Adding square footage is possible, with build-out potential on four levels to the property line. While the property requires upgrading, its location in the heart of Mt. Vernon, near Peabody and Mt. Vernon Square, and a short walk to downtown Baltimore, ensures strong rental demand and potential for significant appreciation. This pre-market opportunity allows for creative repositioning and value enhancement. The property's current configuration includes 21 hotel rooms and a manager's apartment.