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Mt Vernon Portfolio 3 Properties Offered at $2,999,995 in Baltimore, MD
Investment Highlights
- Diverse income stream with 16 total units, including 15 residential apartments and one leased commercial space.
- Projected 10.74% cap rate upon execution of the business plan, offering compelling investment returns.
- Prime location near major employers such as Johns Hopkins University, MedStar Union Memorial Hospital, and UMMC Midtown Campus.
- Immediate cash flow with 70% occupancy and significant upside through lease-up to full stabilization.
- Modern unit features include central A/C, hardwood floors, granite countertops, and in-unit laundry in select apartments.
- Excellent transit access with proximity to Amtrak Penn Station and multiple CityLink and LocalLink routes.
Executive Summary
The Mt. Vernon Portfolio is offered at $2,999,995, representing an 8.99% going-in cap rate based on a T-12 NOI of approximately $269,000. Current average rents of $850/unit are well below the submarket average of roughly $1,200/unit, creating clear value-add upside.
A key highlight is the attractive assumable debt, including a $1,875,000 loan at 3.75% with the option to add a $650,000 supplemental loan at 6.50%, for a combined loan balance of $2,525,000. This creates a blended rate of approximately 4.46%, 84% LTV, and a projected 19.78% takeover cash-on-cash return.
Pro forma rents of approximately $1,270/unit support a projected Year-1 NOI of ~$287,000, a 9.58% pro forma cap rate, and ~22.93% cash-on-cash return, with additional upside from laundry income and converting the vacant Maryland Avenue unit.
The portfolio is located in a prime Mt. Vernon corridor near major dining, cultural, educational, medical, and transit anchors, including Lexington Market, the Walters Art Museum, Peabody Institute, UMMC Midtown, University of Maryland Baltimore, Johns Hopkins, Light RailLink, Metro SubwayLink, CityLink routes, and the Charm City Circulator.
A key highlight is the attractive assumable debt, including a $1,875,000 loan at 3.75% with the option to add a $650,000 supplemental loan at 6.50%, for a combined loan balance of $2,525,000. This creates a blended rate of approximately 4.46%, 84% LTV, and a projected 19.78% takeover cash-on-cash return.
Pro forma rents of approximately $1,270/unit support a projected Year-1 NOI of ~$287,000, a 9.58% pro forma cap rate, and ~22.93% cash-on-cash return, with additional upside from laundry income and converting the vacant Maryland Avenue unit.
The portfolio is located in a prime Mt. Vernon corridor near major dining, cultural, educational, medical, and transit anchors, including Lexington Market, the Walters Art Museum, Peabody Institute, UMMC Midtown, University of Maryland Baltimore, Johns Hopkins, Light RailLink, Metro SubwayLink, CityLink routes, and the Charm City Circulator.
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- Offering Memorandum
Taxes & Operating Expenses (Pro Forma - 2026) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Net Operating Income |
-
|
Taxes & Operating Expenses (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | - |
Property Facts
| Price | $2,999,995 | Number of Properties | 3 |
| Price / SF | $211.54 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 14,182 SF |
| Status | Active | Total Land Area | 0.12 AC |
| Price | $2,999,995 |
| Price / SF | $211.54 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 14,182 SF |
| Total Land Area | 0.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2200 Maryland Ave, Baltimore, MD 21218 | Multifamily | 11,000 SF | 1950 | - |
| 1303 N Calvert St, Baltimore, MD 21202 | Multifamily | 1,742 SF | 1960 | - |
| 1323 N Calvert St, Baltimore, MD 21202 | Office | 1,440 SF | 1900 | - |
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Mt Vernon Portfolio