Midfield Realty Unveils listing of 5801 Narcissus Ave, Baltimore, MD
Midfield Realty has announced the sale of 5801 Narcissus Ave, a well-maintained six-unit multifamily property nestled in a quiet residential neighborhood of Baltimore. The property offers modern conveniences including in-unit washers and dryers, separate BGE metering for each unit, and private balconies, all of which contribute to its tenant appeal and operational efficiency.
The building’s central HVAC system—less than 10 years old for all units—ensures year-round comfort, while recent exterior improvements such as new paint and tree removal have significantly enhanced its curb appeal. Unique in an urban setting, the property also boasts both front and back yard spaces, providing a rare outdoor retreat for its residents.
Financially, 5801 Narcissus Ave represents a compelling investment opportunity. In addition to generating steady rental income, the property offers potential for further revenue growth through a storage unit at the rear. Market comparables show that renovated rents in the area average around $1,439 per month—a 55% increase over current rates—with pro forma analyses suggesting the possibility of achieving nearly an 8% cap rate by the end of Year 2. Professional management, at an 8% fee, ensures smooth operations and cost efficiency.
Location is another key asset for this property. Its proximity to major commuter routes like Reisterstown Road and I-83 provides easy access to surrounding job centers and city hubs. Residents benefit from nearby public transit options, including the Reisterstown Plaza Metro Station, and can enjoy a variety of shopping and dining options at the Reisterstown Road Plaza and Northwest Plaza. Educational institutions such as Baltimore City Community College and Coppin State University, along with healthcare facilities like Sinai Hospital, are also within a short distance.
Midfield Realty’s sale of 5801 Narcissus Ave underscores its commitment to offering high-quality, income-producing assets in Baltimore’s dynamic rental market, presenting investors with a stable asset that combines strong rental performance, efficient operations, and an attractive location.
