1303 N Charles St , Baltimore, MD 21201
Baltimore, MD 21201
Description
1303 N Charles Street is a six-unit mixed-use property located in the vibrant Midtown neighborhood of Baltimore. This fully renovated property consists of five residential units and one ground-floor retail space, complemented by two private parking spaces at the rear. Each residential unit has been updated with modern finishes, including granite countertops, laminate flooring, white shaker cabinets, and in-unit washers and dryers. The property features individual split heating and cooling systems in the residential units, while the basement and retail space benefit from central HVAC. All systems, including a two-year-old roof, are relatively new, ensuring efficient operations and tenant satisfaction. The property’s location is ideal for attracting both residential and commercial tenants. It is situated directly across from the University of Baltimore (3,288 students) and within 0.5 miles of MICA (1,952 students). Tenants also enjoy unparalleled convenience with nearby amenities such as Starbucks, Chipotle, and local favorites like Turp’s Sports Bar & Restaurant. Just 0.2 miles from Baltimore Penn Station and directly off the I-83 highway, the property provides easy access to Washington, D.C., and New York, making it highly appealing to professionals and students alike. The proximity to cultural landmarks, including the Joseph Meyerhoff Symphony Hall, adds to the area’s vibrancy. From a financial perspective, the property offers significant upside. Currently 83% leased, there is an opportunity to increase rents by 23.5% to meet market rates, leveraging its high-quality renovations and prime location. Additionally, buyers can assume existing debt with a competitive 5.8% interest rate, an attractive option in today’s high-rate environment. Located within the CHAP Historic Tax Credit zone, the property also offers potential tax savings for future renovations, further enhancing its value as a long-term investment. 1303 N Charles Street is an exceptional opportunity for investors seeking stable income and growth potential in a sought-after urban location.
Details
| MLS# | MDBA2152036 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 13 |
| Listing Provided By | Midfield Realty | Menachem M. Dalfin |
Features
| SQ Feet | 4,544 |
|---|---|
| Zoning | C-2 |
Market Activity 21201
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Learn More About This Property
| State | MD |
|---|---|
| County | Baltimore City |
| City | Baltimore |
| Zip Code | 21201 |
| School District | Baltimore City Public Schools |
| Listing VS Median (in 21201) | |
Price: $899,900 low | high Med: $249,900 SqFt: 4,544 low | high Med: 1,536 $ / SqFt: $198 low | high Med: $179 On Site: 13 low | high Med: 109.000000 | |