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2635 N Calvert St 4 Unit Apartment Building $850,000 ($212,500/Unit) 9.62% Cap Rate Baltimore, MD 21218
Executive Summary
Turnkey four-unit multifamily investment in the heart of Charles Village generating approximately $7,700/month in rental income. Fully renovated from top to bottom, this low-maintenance property blends historic Baltimore character with modern design and smart-home convenience.
Major capital improvements include all-new plumbing, electrical systems, HVAC, energy-efficient windows, and a brand-new roof — providing long-term peace of mind for investors.
The property features an ideal unit mix consisting of:
Two 2-bedroom, 1-bath apartments
One spacious two-level 3-bedroom, 2-bath unit
One well-appointed studio apartment
Each unit has been thoughtfully updated with open layouts, modern finishes, recessed lighting, updated flooring, stainless steel appliances, custom cabinetry, in-unit washer/dryers, central air conditioning, and private outdoor deck space.
Designed for today’s connected lifestyle, the building is equipped with smart-home technology including video intercom systems, Ecobee smart thermostats, CAT6 ethernet wiring, centralized media panels, and energy-efficient tankless water heaters to help reduce operating costs.
Located just blocks from Johns Hopkins University, Starbucks, Eddie’s Market, the Baltimore Museum of Art, Waverly Farmers Market, parks, shops, restaurants, and public transportation, residents enjoy exceptional walkability and convenience in one of Baltimore’s strongest rental markets.
This is a rare opportunity to acquire a fully renovated, income-producing multifamily property in highly desirable Charles Village with strong in-place income and long-term investment appeal.
Key Highlights
Fully renovated 4-unit multifamily property in Charles Village
Current rental income approximately $7,700/month
Major upgrades completed: plumbing, electrical, HVAC, windows, and roof
Smart-home features throughout including Ecobee thermostats and video intercom
In-unit laundry, central air, and private decks in every unit
Excellent unit mix: two 2BR units, one 3BR duplex, and one studio
Blocks from Johns Hopkins University and neighborhood amenities
Low-maintenance turnkey investment opportunity
Major capital improvements include all-new plumbing, electrical systems, HVAC, energy-efficient windows, and a brand-new roof — providing long-term peace of mind for investors.
The property features an ideal unit mix consisting of:
Two 2-bedroom, 1-bath apartments
One spacious two-level 3-bedroom, 2-bath unit
One well-appointed studio apartment
Each unit has been thoughtfully updated with open layouts, modern finishes, recessed lighting, updated flooring, stainless steel appliances, custom cabinetry, in-unit washer/dryers, central air conditioning, and private outdoor deck space.
Designed for today’s connected lifestyle, the building is equipped with smart-home technology including video intercom systems, Ecobee smart thermostats, CAT6 ethernet wiring, centralized media panels, and energy-efficient tankless water heaters to help reduce operating costs.
Located just blocks from Johns Hopkins University, Starbucks, Eddie’s Market, the Baltimore Museum of Art, Waverly Farmers Market, parks, shops, restaurants, and public transportation, residents enjoy exceptional walkability and convenience in one of Baltimore’s strongest rental markets.
This is a rare opportunity to acquire a fully renovated, income-producing multifamily property in highly desirable Charles Village with strong in-place income and long-term investment appeal.
Key Highlights
Fully renovated 4-unit multifamily property in Charles Village
Current rental income approximately $7,700/month
Major upgrades completed: plumbing, electrical, HVAC, windows, and roof
Smart-home features throughout including Ecobee thermostats and video intercom
In-unit laundry, central air, and private decks in every unit
Excellent unit mix: two 2BR units, one 3BR duplex, and one studio
Blocks from Johns Hopkins University and neighborhood amenities
Low-maintenance turnkey investment opportunity
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $212,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 9.62% | Building Size | 3,292 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2019 |
| Property Subtype | Apartment | ||
| Zoning | R-6 | ||
| Price | $850,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Cap Rate | 9.62% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,292 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2019 |
| Zoning | R-6 |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 3838-032 | Total Assessment | $322,500 (2025) |
| Land Assessment | $90,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $232,500 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
3838-032
Land Assessment
$90,000 (2025)
Improvements Assessment
$232,500 (2025)
Total Assessment
$322,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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2635 N Calvert St
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