515 Warner StBaltimore, MD 21230

Property Details for 515 Warner St

Year built

1880

Lot size

0.27 AC

Property size (Sq ft)

21,080 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 25-unit apartment building in Baltimore, MD. The property, encompassing three buildings across a 0.268-acre lot, boasts a total of 21,080 square feet and features a mix of one, two, and three-bedroom units. Built in 1880 and significantly renovated in 2010 and 2024, the property currently enjoys a 92% occupancy rate and a compelling 7.50% cap rate. The buildings are three stories each, and the property includes seven parking spaces. Recent renovations have included updated appliances, countertops, cabinets, paint, and flooring in eight units, presenting a value-add opportunity for a new owner to continue upgrading the remaining units. The property is zoned R-8 and offers significant potential for increased rental income through further renovations or a potential shift to renting by the bed given the prevalence of larger units. The property's location provides convenient access to the University of Maryland, Baltimore and the University of Maryland Medical Center, enhancing its appeal to a strong rental market. The property's address is spread across multiple addresses in the 21230 zip code, including 515 Warner St, 321 S Fremont Ave, 333 S Fremont Ave, and 675 Melvin Dr. The APN numbers are 22-04-0685B-011, 22-04-0685B-017, and 22-05-0686-025. This fee-simple ownership opportunity offers a strong return on investment with potential for significant appreciation.

Location Insight

City

Baltimore

County

Baltimore

State

Maryland

Latitude

39.2838

Longitude

-76.6242

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