$925,000
Calculate Payment
Calculate Payment
1200 N Caroline Street Baltimore, MD 21213 Municipality: Baltimore City
Multi-Family
Residence
Beds
Baths
...
Bed/Bath
6,533
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Incredible 12-Unit Multi-Family Property! Amazing Value at less than $80,000 per Unit! Combining 1200 & 1202 N Caroline St, this remarkable property combines to create an impressive nearly 10,000 sq. ft. corner building boasting fantastic apartment layouts, robust cash flow, and substantial equity p...otential. Built in a bygone era, this sturdy property features a majestic entrance, exquisite custom millwork, and soaring ceilings. This expansive building offers serene living spaces for tenants and presents a desirable mix of apartment layouts, including eight two-bedroom units, two one-bedroom units, and two studios. Each unit is separately metered, with tenants responsible for their own gas and electric expenses. A diverse tenant base, comprising both market-rate tenants and Section 8 occupants, maintains stable rents averaging approximately $1,000 per month, resulting in a gross annual rental income of $125,000. The owner has made substantial investments, totaling over $100,000, to stabilize the property, yielding an impressive 8% Cap Rate for prospective buyers. This presents a tremendous opportunity to further enhance cash flow and equity. By increasing rents to a reasonable $120,000 per unit and $1,200 per month, potential equity of up to $500,000 could be generated, along with a likely 10+% cap rate. Situated on a spacious lot measuring 49ft by 159ft, spanning the entire block from Caroline to Spring St, the property enjoys adjacency to Madison Square Park, Recreation Center, and Playground, offering unobstructed city views. Just half a mile from Johnâs Hopkins Medical Campus, the property is ideally located amidst the vibrant East Baltimore Development, featuring 1.7 million square feet of life sciences research and office space, educational institutions, green areas, grocery stores, and other essential neighborhood amenities. View the uploaded floor plans to envision the building's layout. While interior photos are limited due to occupied units, this is an exceptional investment opportunity to purchase, enhance, and hold for generations. Donât let this opportunity pass you by â call today for more information!
Continue reading
MLS#
MDBA2113572
Property Type
Multi-Family
Year Built
1900
Square Feet
6,533
sq. ft
Price per Sq. Ft.
$145.55
Lot Size
0.15
Sewer
Public Sewer
Receive an email as soon as the price changes
Receive an email
as soon as the price changes
Get Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Enter your work address to view actual drive times with traffic for this property.
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Kickstart your home search journey with our online Pre-Approval.
Nearby Homes For Sale
Just Listed
And
Homes Available
In
See How Much You Could Save
Thinking about buying or selling? Talk to one of our Mortgage Professionals today to see how much you could save on your next home. Call us at 833-981-2030.