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2301 Maryland Ave 45 Unit Apartment Building $1,675,000 ($37,222/Unit) 9.79% Cap Rate Baltimore, MD 21218
Investment Highlights
- Compelling Entry Basis with Short- and Long-Term Upside – $37,222 per unit with upside opportunity
- Flexible Residential Configuration – unit mix and layout accommodate both conventional apartment operations and alternative residential models
- Scale Rarely Available in Baltimore Rowhouse Product – 45 units across five contiguous buildings
Executive Summary
2301-2307 Maryland is a five-building residential offering on a single block and lot in Baltimore, Maryland, consisting of 24 apartments and 21 rooming units. The buildings span a continuous frontage along Maryland Avenue and have been operated as a unified asset, combining traditional apartment layouts with institutional-style configurations that support shared housing environments.
Located in the Old Goucher neighborhood, the property sits within a central Baltimore corridor between Johns Hopkins University, Charles Village, and the Station North Arts District—three of the city’s most active and recognizable neighborhoods. The area benefits from strong proximity to major employers, higher education, healthcare, and transit, and continues to see reinvestment through residential and commercial development.
The mix of rooming units and apartments, along with the layout of 2301–2303, provides a unique opportunity to operate the property under multiple strategies, including conventional multifamily, shared housing, or programmatic residential use. The scale of the assemblage—five contiguous buildings—allows for operational efficiencies not typically found in smaller assets.
With a clear path to improve performance through targeted upgrades and management, the property offers investors the opportunity to increase income, optimize operations, and reposition the asset over time, all within a well-located and evolving urban submarket.
Located in the Old Goucher neighborhood, the property sits within a central Baltimore corridor between Johns Hopkins University, Charles Village, and the Station North Arts District—three of the city’s most active and recognizable neighborhoods. The area benefits from strong proximity to major employers, higher education, healthcare, and transit, and continues to see reinvestment through residential and commercial development.
The mix of rooming units and apartments, along with the layout of 2301–2303, provides a unique opportunity to operate the property under multiple strategies, including conventional multifamily, shared housing, or programmatic residential use. The scale of the assemblage—five contiguous buildings—allows for operational efficiencies not typically found in smaller assets.
With a clear path to improve performance through targeted upgrades and management, the property offers investors the opportunity to increase income, optimize operations, and reposition the asset over time, all within a well-located and evolving urban submarket.
Property Facts
| Price | $1,675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $37,222 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 9.79% | Building Size | 21,738 SF |
| Gross Rent Multiplier | 9.5 | Average Occupancy | 75% |
| No. Units | 45 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.28/1,000 SF |
| Zoning | C-1 | ||
| Price | $1,675,000 |
| Price Per Unit | $37,222 |
| Sale Type | Investment |
| Cap Rate | 9.79% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 21,738 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.28/1,000 SF |
| Zoning | C-1 |
Amenities
Unit Amenities
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
| Studios | 21 | - | - |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 3623-001 | Improvements Assessment | $1,034,900 |
| Land Assessment | $287,300 | Total Assessment | $1,322,200 |
Property Taxes
Parcel Number
3623-001
Land Assessment
$287,300
Improvements Assessment
$1,034,900
Total Assessment
$1,322,200
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2301 Maryland Ave
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