2810 Saint Paul St 4 Unit Apartment Building Offered at $470,000 at a 9.49% Cap Rate Baltimore, MD 21218

2810 Saint Paul Street presents a Charles Village value-add apartment building with below-market rents, deferred maintenance, and a long-term ownership history. Investors have the flexibility to execute a renovation strategy that matches their budget and goals, whether through cosmetic apartment updates, mid-grade renovations, complete gut rehabs as units become available, or capital improvements to the building's systems and common areas.
Located in the heart of Charles Village, the property is 2 blocks from Johns Hopkins University's Homewood Campus and 1 block from Wyman Park Dell. A Johns Hopkins Shuttle stop is nearby, providing direct service between the Homewood and Medical campuses and broadens consistent rental demand. The Charles Village Community Benefits District, neighborhood restaurants, grocery stores, and everyday conveniences are all within walking distance.
The building is heated by an oil-fired boiler with steam radiator distribution. Four gas meters and four electric meters provide individually metered utility service, while tenants currently pay for their own cooking gas and electric. Offered at $470,000 ($117,500 per unit), the property projects a 9.49% cap rate and approximately a 12.7% cash-on-cash return at market rents.
Whether acquired as a standalone investment or alongside nearby multifamily holdings, 2810 Saint Paul Street offers investors an opportunity to create long-term value in one of Baltimore's most established and consistently leased rental neighborhoods.