1303 N Charles Street is a six-unit mixed-use property located in the vibrant Midtown neighborhood of Baltimore.
This fully renovated multifamily building for sale is a mixed-use property consisting of five residential units and one ground-floor retail space, making it an attractive multifamily investment opportunity in Baltimore. It includes two private parking spaces at the rear, adding convenience for tenants and business owners. Each residential unit has been upgraded with modern finishes, including granite countertops, laminate flooring, white shaker cabinets, and in-unit washers and dryers, enhancing its appeal to rental property investors.
The property features individual split heating and cooling systems for the residential apartments, while the basement and retail space benefit from central HVAC, ensuring energy efficiency. This multifamily building for sale boasts modern infrastructure, with all major systems—including a two-year-old roof—being relatively new. This minimizes maintenance costs and maximizes return on investment for buyers looking for a stable, income-generating real estate asset.
From a financial perspective, this investment property in Baltimore offers significant upside. Currently 83% leased, there is an opportunity to increase rental income by 23.5% to align with market rates, capitalizing on its high-quality renovations and prime location. Additionally, buyers can assume existing debt at a competitive 5.8% interest rate, an attractive option in today’s high-interest real estate market. Whether you’re an experienced investor or seeking to expand your multifamily real estate portfolio, this property presents a compelling opportunity.
Strategically located within the CHAP Historic Tax Credit zone, this multifamily building for sale offers not only an exceptional investment opportunity but also potential tax savings for future renovations, further enhancing its long-term value. Its prime location in a high-demand area ensures strong rental potential, making it a smart choice for investors seeking stable income and property appreciation.
With its mixed-use potential, this property is ideal for commercial real estate investors, multifamily brokerage firms, and those looking to expand their Baltimore real estate portfolio. Whether you’re a seasoned investor or a first-time buyer looking for a high-performing asset, this property offers the perfect balance of historic charm, modern upgrades, and income-generating potential.
- INVESTMENT HIGHLIGHTS -
Prime Location: Located in Midtown Baltimore, directly across from the University of Baltimore and 0.5 miles from MICA, ensuring strong rental demand.
Modernized Units: Fully renovated residential units with granite countertops, laminate flooring, white shaker cabinets, and in-unit washers and dryers.
Energy-Efficient Systems: Individual split heating and cooling systems for residential units; central HVAC for the basement and retail space; all systems are relatively new.
Retail & Cultural Appeal: Ground-floor retail space with a longstanding tenant, plus proximity to vibrant retail options, dining, and cultural landmarks like the Joseph Meyerhoff Symphony Hall.
Transportation Access: Just 0.2 miles from Baltimore Penn Station and near the I-83 highway, offering easy access to Washington, D.C., and New York.
Financial Upside: Current rents have a 23.5% growth potential to meet market rates, coupled with the ability to assume existing debt at a competitive 5.8% interest rate.
Tax Credit Advantage: Located in the CHAP Historic Tax Credit zone, providing opportunities for significant tax savings on future renovations.
