301 29Th StBaltimore, MD 21218

Property Details for 301 29Th St

Year built

1940

Construction

BRICK

Lot size

0.91 AC

Property size (Sq ft)

24,750 SF

Zone code

IMU-1

Property type

Retail properties

Property subtype

Retail space

APN

12-02-3651 -032

APU

12023651032

Description

This exceptional 5-unit apartment building in Baltimore's desirable Charles Village neighborhood presents a compelling investment opportunity. The property, built in 1920 and extensively renovated in 2015, boasts 2,406 square feet across three stories on a 2,125 square foot lot. The unit mix includes four one-bedroom, one-bathroom apartments and one three-bedroom, two-bathroom apartment, all featuring modern amenities such as stainless steel appliances, wood cabinets, granite countertops, hardwood flooring, and in-unit washer/dryers. Its prime location offers a 12-minute walk to Johns Hopkins University and MedStar Union Memorial Hospital, two major employers, and a 6-minute walk to a Johns Hopkins University shuttle stop providing convenient access to the main campus, Penn Station, Johns Hopkins Hospital, and the Peabody Institute. Current rents are below market value, presenting a significant opportunity for immediate rental income growth. Further potential exists to implement a water reimbursement program. The property is zoned R-7 and is offered fee simple. This renovated asset in a highly sought-after location offers a strong return on investment with potential for significant rental increases. The APN is 12-17-3847-092. The asking price is $850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $7,844,908

  6.5%

  $7,241,453

  7%

  $6,724,206

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,923,697

  Geo Method

  $3,923,697

• Alternative Use

  Use

  Valuation

  Residential

  $6,108,436

  Hospitality

  $5,595,295

  Educational

  $4,655,220

  Medical

  $4,815,320

  Retail

  $7,241,453

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Latitude

39.3216

Longitude

-76.6222

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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