2516 Charles StBaltimore, MD 21218

Property Details for 2516 Charles St

Year built

1900

Construction

BRICK

Lot size

0.17 AC

Property size (Sq ft)

8,130 SF

Zone code

OR-2

Property type

Office properties

Property subtype

Office buildings

APN

12-03-3636 -009

APU

12033636009

Description

This fee-simple mixed-use property in Baltimore, MD, offers a compelling investment opportunity. The 8,130 square foot building comprises 13 units across three buildings, including apartments and commercial spaces, boasting a 90% occupancy rate and a current NOI of $106,718, resulting in an 8.47% cap rate. The apartments feature modern kitchens with granite and laminate countertops, wood and laminate cabinets, and ceramic tile bathrooms. Individual HVAC systems, vinyl replacement windows, and modern finishes enhance tenant appeal. Commercial suites are adaptable to various tenant needs, with existing build-outs. A significant 3,418 square foot asphalt lot provides ample parking, offering substantial potential for increased rental income. Located at 2516 N Charles St, in the desirable Charles Village neighborhood, this property benefits from a Walk Score of 96, Transit Score of 80, and Bike Score of 85. The property sits on a 7,200 square foot lot and is zoned OR-2. Recent electrical upgrades include individual apartment metering. The property's proximity to Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art, along with its location on a bustling commercial street, ensures strong tenant demand and consistent cash flow. The asking price is $1,260,000, representing a price per unit of $96,923.08. This turnkey investment offers a blend of residential and commercial income streams in a prime Baltimore location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,753,016

  6.5%

  $1,618,168

  7%

  $1,502,585

• Comparable approach

  Method

  Valuation

  Relative Method

  $511,458

  Geo Method

  $511,458

• Alternative Use

  Use

  Valuation

  Residential

  $2,006,529

  Hospitality

  $1,837,970

  Educational

  $1,529,169

  Medical

  $1,581,760

  Retail

  $2,378,708

Location Insight

City

Baltimore

County

Baltimore City

State

Maryland

Latitude

39.3187

Longitude

-76.6174

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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