1918 McCulloh St 3 Unit Apartment Building $330,000 ($110,000/Unit) 9.13% Cap Rate Baltimore, MD 21217

1918 McCulloh Street presents an opportunity to acquire a stabilized three-unit apartment building in Baltimore's Druid Heights neighborhood. The property consists entirely of two-bedroom apartments and combines individually metered utilities, in-unit laundry, and separately controlled HVAC systems. Current rents remain below market, providing investors with a clear opportunity to increase income over time through natural tenant turnover rather than extensive capital improvements.
The building is configured for straightforward management. Each apartment has its own electric heat pump with central air conditioning, electric water heater, and electric meter. Tenants pay their own electric service, while the landlord is responsible for common area electric, water, and sewer.
Apartment interiors feature durable finishes including wood cabinetry, laminate countertops, modern bathrooms, and stacked washers and dryers in every apartment. These finishes have held up well over time, allowing a new owner to focus on operations rather than immediate apartment renovations.
Located in Druid Heights, 1918 McCulloh Street benefits from decades of neighborhood reinvestment led by the Druid Heights Community Development Corporation. Approximately 72% of occupied housing units in the neighborhood are renter-occupied, supporting long-term demand for rental housing. For investors seeking a smaller multifamily asset with operational simplicity, rental upside, and durable building systems, 1918 McCulloh Street offers an attractive combination of current cash flow and future income growth as rents move toward market levels.