- For Sale $997,000
- Property Type Other
- Date Updated Feb 27, 2025
2106 St Paul St is a seven-unit multifamily property built in 1883, offering a blend of historic charm and income-producing potential. The property features original hardwood flooring, a first-floor balcony, and a basement patio, enhancing its tenant appeal. A coin-operated laundry in the basement provides an additional revenue stream, while a storage area within the building offers potential for further income. The property also includes one on-site parking space, which could be rented for additional earnings. With energy-efficient appliances and LED lighting, the property benefits from lower operational costs.
Location Highlights
This property is situated in Charles Village, a well-connected area with easy access to shopping, entertainment, healthcare, universities, and major commuter routes. Safeway (0.3 miles) and Save A Lot (0.2 miles) provide nearby grocery options. Public transit is easily accessible with bus routes along St. Paul St and North Ave, and the Penn Station MARC & Amtrak train station is just 0.8 miles away, providing direct rail connections. Major cultural attractions like Charles Theatre (0.9 miles), Parkway Theatre (0.8 miles), and Centre Theatre (0.7 miles) are nearby. The property is also 0.6 miles from MedStar Union Memorial Hospital and 1.8 miles from Johns Hopkins Hospital. Additionally, Johns Hopkins University (0.9 miles) and The University of Baltimore (1 mile) are within close proximity, making this an attractive rental location for students and faculty.
Financial Highlights
Market comparables indicate that one-bedroom units can achieve $1,300 per month, creating strong upside potential. With minimal upgrades and strategic rent increases, the property can reach a 7.2% cap rate by the end of Year 1. Currently, all utilities are paid by ownership, but there is an opportunity to separate metering in the future or to implement a RUBS system to reduce expenses. Additional income potential exists through storage rental and parking lease opportunities.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Coin-operated laundry in basement
- First-floor balcony & basement patio
- One on-site parking space Potential for additional revenue.
- Storage space within the property Extra income opportunity.
- Grocery stores nearby Safeway (0.3 miles), Save A Lot (0.2 miles).
- Public transit access Bus routes along St. Paul St and North Ave.
- Penn Station (0.8 miles) Access to MARC & Amtrak train routes.
- Proximity to universities Johns Hopkins University (0.9 miles), University of Baltimore (1 mile).
- Strong financial upside $1,300 market rents & 7.2% cap rate potential
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Contacts
Location
Getting Around
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Walk Score ®
95/100
Walker's Paradise
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Transit Score ®
87/100
Excellent Transit
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Bike Score ®
86/100
Very Bikeable
- City Baltimore, MD
- Neighborhood Charles North
- Zip Code 21218
- Market Baltimore
Points of Interest
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North Avenue
0.40 miles
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Baltimore Penn Station
0.41 miles
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Mount Royal / MICA
0.49 miles
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Cultural Center
0.74 miles
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State Center
0.92 miles
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Mount Vernon
1.18 miles
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Upton
1.28 miles
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Lexington Market
1.46 miles
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Penn–North
1.47 miles
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Johns Hopkins Hospital
1.49 miles
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Sunoco
0.23 miles
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Oceanic
0.24 miles
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Marathon
0.25 miles
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eVgo
0.27 miles
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Exxon
0.40 miles
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Carroll Motor Fuels
0.58 miles
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Tesla Destination Charger
0.94 miles
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Citgo
1.05 miles
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Crown
1.07 miles
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SemaConnect
1.34 miles
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Brown Rice Parking
0.22 miles
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Theatre Parking
0.30 miles
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Area D
0.42 miles
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Homewood Garage
0.45 miles
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Fitzgerald Garage
0.46 miles
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Penn Station Parking Garage
0.47 miles
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Mount Royal Avenue Lot
0.60 miles
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Guest Parking
0.66 miles
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Papermoon Diner
0.67 miles
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1205 Maryland Avenue Public Parking Lot
0.67 miles
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Motel 6
0.23 miles
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Downtown Hotel
0.64 miles
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The Ivy Hotel
0.72 miles
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Belvedere
0.79 miles
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Hotel Brexton
0.88 miles
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Ulysses
0.95 miles
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Midtown Inn
1.04 miles
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Biltmore Suites Hotel - Park Avenue Building
1.07 miles
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Biltmore Suites Hotel - Main Building
1.07 miles
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Revival Baltimore
1.13 miles
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Mi Comalito Restaurant
0.05 miles
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Pizza Boli's
0.10 miles
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V Lounge
0.13 miles
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Kong Pocha
0.13 miles
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Island Vybz
0.13 miles
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Jong Kak
0.14 miles
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Crown Seoul Korean BBQ Restaurant
0.15 miles
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Nam Kang Restaurant
0.16 miles
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Jerry Carryout
0.19 miles
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Rita’s Place
0.19 miles
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Baltimore Lab School
0.10 miles
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Dallas F. Nicholas, Sr. Elementary School
0.12 miles
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Career Academy
0.25 miles
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Baltimore Montessori Public Charter School
0.37 miles
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Margaret Brent Elementary/Middle School
0.43 miles
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Cecil Elementary School
0.49 miles
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Maryland Institute College of Art
0.49 miles
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Baltimore Design School
0.49 miles
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University of Baltimore
0.53 miles
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Midtown Academy
0.53 miles
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Bolton Hill Nursery
0.68 miles
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The Waverly Early Head Start Center of Goodwill
0.96 miles
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All My Children Child Care Center
0.99 miles
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Homewood Early Learning Center
1.01 miles
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Saint Vincent de Paul Head Start
1.05 miles
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Play Workz Learning Center
1.10 miles
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Dayspring Head Start Harford Heights
1.21 miles
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Sherman Early Childhood Center
1.33 miles
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Charles Plaza Child Care & Development
1.45 miles
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Downtown Baltimore Child Care, Inc.
1.57 miles
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