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305 W Madison St, Baltimore, MD 21201

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Address: 305 W Madison St, Baltimore, MD 21201, USA

Washington DC + Apartment Buildings

Created date: October 14, 2024

Date last updated: October 14, 2024

- Multi-unit property positioned to benefit from the strong demand for urban living in a popular, walkable community with a walk score of 98
- Ideal for investors seeking a property with solid rental potential in a vibrant, high-demand area.
- Opportunity to implement value-add renovations, including unit upgrades and amenity enhancements, to increase rental income by ~59%
- Walking distance to Baltimore Penn Station, connecting to MARC, Amtrak, and light rail services, providing easy access to Washington, D.C., Philadelphia, and beyond.
- Located close to I-83 and Route 40, offering seamless connections to major highways, downtown Baltimore, and surrounding suburban areas.
- Property has washer and dry facility available for tenant's convenience
- Some of the units were recently renovated.
- Property has 5 legal units with 1 extra unit

Property Description

Property OverviewThe property at 305 W Madison St, Baltimore, MD 21201 is a five-unit multifamily building with a mix of studio and one-bedroom units. Some of the units have already been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors.Value-Add PotentialThe property offers substantial value-add potential for investors, with the opportunity to increase rents by ~59%, or approximately $200 per unit. This creates a clear path to significantly enhance cash flow and maximize returns. With a handful of units already renovated investors can implement additional improvements to the remaining units to further boost rental income and overall property value. Additionally, the onsite laundry offers further income-generating potential.Prime Location and Area BenefitsLocated in the heart of Baltimore, the property is close to major institutions such as Johns Hopkins University and the University of Maryland Medical Center, offering proximity to key employment centers. Nearby universities like the University of Baltimore and Maryland Institute College of Art (MICA) also enhance the area's appeal. The property benefits from easy access to major highways such as I-83 and I-95, and is close to the State Center subway station, ensuring excellent transportation options. Additionally, being near an Opportunity Zone provides potential tax incentives for investors.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$400,000
No. of Units:	6
Opportunity Zone:	No
Price per unit:	$66,667
Property Website	Click Here