Lane Apartments 2924 W Cold Spring Ln 96 Unit Apartment Building $3,600,000 ($37,500/Unit) Baltimore, MD 21215

GUIDED TOUR THURSDAY, NOVEMBER 13TH STARTING AT 12:00PM
2900-2914 & 2924-2938 W. Cold Spring Ln. Baltimore, MD 21215
96 Unit Apartment Complex in "Towanda-Grantley" Neighborhood of Baltimore City **Potential Gross Annual Rent of $1,140,828**
List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Thursday, November 13th and ends Tuesday, November 18th, 2025 at 2:00 PM. Manner of Sale: This property is being sold in a Gallery Auction with 5 Lots. Each property will be offered individually.
FOR SALE: 96-Unit Multifamily Portfolio in Towanda-Grantley
Property Overview:
Welcome to Lane Apartments, here is your opportunity to acquire a stabilized, cash-flowing 96-unit apartment portfolio in the heart of Northwest Baltimore. Strategically located along W Cold Spring Ln., the properties span two contiguous parcels totaling 16 garden-style apartment buildings. The offering consists of a strong unit mix, consistent occupancy, and significant rental upside in a transit-oriented, residential neighborhood.
Property Details:
• Address 1: 2900–2914 W. Cold Spring Ln.
Buildings: 8
Units: 48
• Address 2: 2924–2398 W. Cold Spring Ln.
Buildings: 8
Units: 48
• Total Buildings: 16
• Total Units: 96
(3) 1 Bed / 1 Bath
(93) 2 Bed / 1 Bath
Financial Highlights:
• Occupancy: 91%
• Potential Gross Income: $1,140,828 annually
• Zoning: R-6
• Unit Mix: Primarily 2-bedrooms—ideal for families and long-term tenants
• Rental Upside: Opportunity to increase rents through light renovations or repositioning
Investment Highlights:
• Stabilized Asset: High current occupancy with consistent cash flow
• Desirable Unit Mix: 97% 2-bedroom units support longer tenancies and strong rental demand
• Transit Accessible: Located near Metro SubwayLink and major commuter routes
• Zoning Flexibility: R-6 zoning permits a variety of multifamily and residential uses
• Economies of Scale: Ability to manage a sizable portfolio within a tight geographic footprint
Location:The Towanda-Grantley neighborhood is a predominantly residential area with strong rental demand and convenient access to employment centers, public transportation, and retail corridors. Nearby institutions include Coppin State University and Sinai Hospital.
**Scheduled Gross Monthly Rent of $85,799**
**Scheduled Gross Annual Rent of $1,029,588**
**Potential Gross Monthly Rent of $95,011**
**Potential Gross Annual Rent of $1,140,132**
Projected Annual Expenses:
Taxes $75,062
Gas & Electric $38,695
Water $114,678
Trash Removal $32,316
The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. Neither the auctioneer or the owner make any representations or warranties with respect to the accuracy of information.
Multi Property Auction: A bidding deposit of $20,000 per lot is required for Lots 1–5.
Diligence Package: A copy of the purchase and sale agreement, leases, lead certificate, rental license with assorted addenda are located in the documents section. In order to gain access, you must create a free account as well as accept a non disclosure agreement.
Auction Notes: Online Auction Only! Bidding begins Thursday, November 13th and ends Tuesday, November 18th, 2025 at 2:00 PM.
Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.