1211 Charles StBaltimore, MD 21230

This exceptional 5-unit apartment building, located at 1211 S Charles St in Baltimore, MD 21230, presents a compelling value-add investment opportunity. Built in 1920, the property boasts classic, durable brick construction with a recently updated roof and mechanical systems (2019). Each of the five units features two bedrooms and two bathrooms, complete with in-unit laundry. Residents enjoy convenient on-site parking and immediate access to the vibrant Charles Street, boasting a walk score of 99, with its numerous shops, restaurants, and bars. The property benefits from its prime location in Federal Hill, a highly sought-after neighborhood in Baltimore known for its strong rental market and consistent growth. A significant value-add opportunity exists, with potential rent increases ranging from $50 to $150 per unit through minor renovations, exceeding comparable properties in the area. The building's strong fundamentals, coupled with the desirability of its location, make this a rare opportunity for investors seeking stable returns and significant upside potential. The property offers a 4.11% cap rate and a net operating income (NOI) of $47,248, with an asking price of $1,150,000 and a price per square foot of $411. The July 2024 median rent in Federal Hill was $2,375, demonstrating market stability and minimal inflationary pressure. This property is ideally situated for easy access to both public transportation and major roadways, offering residents convenient commutes and access to the amenities of the Inner Harbor and nearby parks. The building's strong performance and potential for growth make it an attractive investment in a thriving Baltimore neighborhood.