1 Wolfe St Baltimore, MD 21231

This exceptional investment opportunity presents a fully occupied (100% as of June 2024), 37-unit apartment building in Baltimore, Maryland's vibrant Fell's Point neighborhood. The property, boasting 32,250 square feet of net rentable space across three three-story buildings, sits on a 1.15-acre lot. Built in 1920 and extensively renovated in 2020, each unit features modern amenities including hardwood floors, quartz countertops, stainless steel appliances, and in-unit washer/dryers. The property's prime location, within a mile of Johns Hopkins Hospital and close to major transportation hubs, ensures high demand. Further enhancing its appeal is a 15,300 square foot brewery on the site, driving significant foot traffic and contributing to the property's exceptional 100% occupancy rate. Current rental rates are below market average, offering significant upside potential for increased revenue. A tax abatement, extending through 2030, provides substantial tax savings. The asking price is $8,500,000, representing a $229,730 per unit cost and a 6.59% cap rate with a current NOI of $560,177. This unique, newly renovated property offers a compelling combination of strong cash flow, significant upside potential, and a desirable location in a thriving urban market. The average unit size is approximately 872 square feet.