North Charles Mixed Use Portfolio 2 Retail Properties Offered at $1,350,000 in Baltimore, MD

This is a rare opportunity to acquire a 20-unit mixed-use asset along North Charles Street at a low cost per unit that supports multiple value-creation strategies. The property has been under the same ownership for approximately 50 years, with limited capital improvements to building systems, resulting in deferred maintenance and below-market rents across the residential units. For investors seeking scale along Baltimore’s primary north-south corridor, the asset offers a clear path to increased income through lease-up, renovation, or phased redevelopment, with the ability to reposition units to current market levels or undertake more significant improvements over time.
Interiors:
This Old Goucher mixed-use portfolio includes 20 units across four buildings, comprised of:
5 commercial spaces
2 two-bedroom apartments
11 one-bedroom apartments
2 one-bedroom apartments with dens
1 carriage house apartment with attached garage
With 82' of frontage along North Charles Street, the property supports multiple commercial storefronts with residential units above across 19,518 square feet.
Commercial spaces are built out by tenants to suit their individual business needs. A clothing retailer spanning multiple storefronts has operated at the property since 2001. The salon tenant has improved its space with vinyl plank flooring and drywall walls and ceilings. A social club occupies one of the basement spaces, and a restaurant is expected to open soon at 2324 North Charles Street.
Residential units include wood cabinetry and laminate countertops, with 20? or 30? gas or electric ranges depending on unit. Bathrooms vary with a combination of clawfoot, cast iron, steel, and fiberglass tubs, paired with fiberglass, ceramic tile, or vinyl surrounds.
Utilities:
2318-2324 North Charles Street is heated by gas-fired boilers with radiator distribution. Hot water is supplied by multiple gas-fired water heaters connected in series in each building. The salon space at 2324 is served by a dedicated electric heat pump with central air. Units are separately metered for electric and gas service. The landlord pays for gas heat and central hot water, while tenants are responsible for electric and gas used for cooking.
What’s Special About Old Goucher:
This Old Goucher mixed-use portfolio fronts North Charles Street, a primary Baltimore corridor running from Towson through Charles Village, Mount Vernon, Federal Hill, and into South Baltimore. Its location provides walkable access to nearby neighborhoods including Remington, Station North, and Charles Village. Old Goucher has experienced steady investment, supporting ongoing residential and commercial activity.
2318–2324 North Charles offers 82 feet of frontage along North Charles Street across four connected buildings totaling 19,000 square feet. This layout allows for multiple commercial storefronts with residential units above along a continuous stretch of North Charles Street and provides a footprint that supports flexibility over time. Approximately 80% of the commercial tenants have operated at the property for over 20 years, reflecting long-term occupancy along an established retail corridor.