- For Sale $400,000
- Property Type Other
- Units 6
- Additional Rent Contact for pricing
- Date Updated Oct 21, 2024
- Website 305wmadisonstbaltimoremd21201.sharplaunch.com
Property Overview
The 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 Potential
The 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 Benefits
Located 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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Attachments
Highlights
- - 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
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Contacts
Location
Getting Around
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Walk Score ®
98/100
Walker's Paradise
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Transit Score ®
100/100
Rider's Paradise
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Bike Score ®
85/100
Very Bikeable
- City Baltimore, MD
- Neighborhood Mount Vernon
- Zip Code 21201
- Market Baltimore
Points of Interest
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Centre Street
0.10 miles
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Mount Royal / University of Baltimore
0.63 miles
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Baltimore Arena
0.66 miles
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Charles Center
0.69 miles
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Upton
0.91 miles
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Shot Tower/Market Place
0.96 miles
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Shot Tower
0.97 miles
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Camden Station
1.00 miles
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Camden Street
1.04 miles
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Hamburg Street
1.33 miles
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Gulf
0.33 miles
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Exxon
0.38 miles
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BP
0.57 miles
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ChargePoint
0.59 miles
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Marathon
0.85 miles
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Sunoco
0.96 miles
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Oceanic
1.01 miles
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American Fuel
1.04 miles
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Crown
1.13 miles
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Sunoco
1.15 miles
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Maryland General Hospital Parking Garage
0.04 miles
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Monument Place Resident Parking
0.05 miles
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15 W. Franklin Street Garage
0.33 miles
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Symphony Center Parking
0.34 miles
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Park PMI
0.36 miles
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Maryland Avenue Garage
0.36 miles
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PNC Bank
0.37 miles
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Market Center Garage
0.42 miles
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601 N Calvert Street Garage
0.43 miles
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1205 Maryland Avenue Public Parking Lot
0.44 miles
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Biltmore Suites Hotel - Main Building
0.08 miles
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Biltmore Suites Hotel - Park Avenue Building
0.10 miles
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Revival Baltimore
0.19 miles
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Hotel Brexton
0.22 miles
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Hotel Indigo
0.29 miles
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La Quinta
0.36 miles
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Hostelling International
0.37 miles
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La Quinta Inn & Suites by Wyndham Baltimore Downtown
0.37 miles
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Belvedere
0.38 miles
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Home2 Suites
0.44 miles
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West Madison Bar & Kitchen
0.01 miles
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The Land of Kush
0.15 miles
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Hip Hop Fish & Chicken
0.16 miles
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Michaelangelo's
0.17 miles
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Fresh Mondays
0.18 miles
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Between Two Buns
0.18 miles
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Cheezy Mike's
0.18 miles
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The Local Oyster
0.18 miles
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Edible Flavors
0.18 miles
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Mount Vernon Marketplace
0.18 miles
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Downtown Baltimore Child Care / Park Avenue
0.11 miles
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Grace and Saint Peters School
0.13 miles
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Baltimore School For The Arts
0.16 miles
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Saint Marys Seminary
0.23 miles
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New Hope Academy
0.26 miles
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S C Taylor Elementary School
0.30 miles
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The Peabody Institute of Johns Hopkins
0.32 miles
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New Foundations Mansef School
0.38 miles
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Saint Alphonsus School
0.42 miles
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Renaissance Academy Booker T. Washington Campus
0.50 miles
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All My Children Child Care Center
0.46 miles
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Charles Plaza Child Care & Development
0.48 miles
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Downtown Baltimore Child Care, Inc.
0.49 miles
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Bolton Hill Nursery
0.56 miles
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Saint Vincent de Paul Head Start
1.35 miles
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Headstart, Harford Elementary School Modular
1.79 miles
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Homewood Early Learning Center
1.96 miles
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Dynamic Deliverance Childcare Center
2.33 miles
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Kiddie Academy
2.35 miles
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Bright Stars Learning Center
2.78 miles
Frequently Asked Questions
How much does 305 W Madison St, Baltimore, MD 21201 cost?
The space currently listed for sale at 305 W Madison St, Baltimore, MD 21201 asks for $400,000.
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