1208 Calvert StBaltimore, MD 21202

Property Details for 1208 Calvert St

Year built

1900

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 8-unit apartment building, located at 1208 N Calvert St in Baltimore, MD 21202, presents a compelling investment opportunity. Built in 1900, this four-story, Class C property offers a mix of studio, one-bedroom, and two-bedroom units, providing a diverse rental portfolio. The building boasts a strong rental history and benefits from its prime location in the prestigious Mount Vernon neighborhood, adjacent to the Ivy Hotel and within easy reach of Penn Station. The property features a rear parking lot accommodating 2-3 vehicles, adding significant value. Currently priced at $890,000, this translates to $111,250 per unit. The property's zoning (OR) allows for dual usage as either office or residential space, expanding potential income streams. The building's Net Operating Income (NOI) is $76,687, resulting in an attractive 8.62% cap rate. Detailed income and expense statements are available upon request. This well-maintained property offers excellent cash flow potential and is an ideal addition to any investor's portfolio. Proof of funds will be required. The unit breakdown includes three studios, four one-bedroom units, and one two-bedroom unit.

Location Insight

City

Baltimore

County

Baltimore

State

Maryland

Latitude

39.3039

Longitude

-76.6135

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