412 Washington StBaltimore, MD 21231

Property Details for 412 Washington St

Property size (Sq ft)

1,152 SF

Property type

Dormitories

Property subtype

Student housing

Description

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.

Location Insight

City

Baltimore

County

Baltimore

State

Maryland

Latitude

39.2959

Longitude

-76.5896

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