MD > Baltimore > Mount Vernon
Baltimore, MD 21201,305 W MADISON ST
Baltimore, MD 21201,305 W MADISON ST
Baltimore, MD 21201,305 W MADISON ST
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William Kauffman

William Kauffman

Cummings and Company Realtors

+1(443) 722-4577
$400,000
Est. payment /mo
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UPDATED:

10/30/2024 05:16 PM

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision Mount Vernon

MLS Listing ID MDBA2141324

Style Unit/Flat

Originating Board BRIGHT

Year Built 1952

Annual Tax Amount $5,906

Tax Year 2025

Property Description

Property Overview
The property at 305 W Madison St, Baltimore, MD 21201 is a five-unit multifamily building with a mix of studio and one-bedroom units. Some of the units have already been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors.

Value-Add Potential
The property offers substantial value-add potential for investors, with the opportunity to increase rents by 59%, or approximately $200 per unit. This creates a clear path to significantly enhance cash flow and maximize returns. With a handful of units already renovated investors can implement additional improvements to the remaining units to further boost rental income and overall property value. Additionally, the onsite laundry offers further income-generating potential.

Location and Area Benefits

Located in the heart of Baltimore, the property is close to major institutions such as Johns Hopkins University and the University of Maryland Medical Center, offering proximity to key employment centers. Nearby universities like the University of Baltimore and Maryland Institute College of Art (MICA) also enhance the area's appeal. The property benefits from easy access to major highways such as I-83 and I-95, and is close to the State Center subway station, ensuring excellent transportation options. Additionally, being near an Opportunity Zone provides potential tax incentives for investors.

Location

State MD

County Baltimore City

Zoning C-1

Interior

Hot Water Other

Heating Radiator

Cooling Window Unit(s)

Fireplace N

Heat Source Other

Exterior

Waterfront N

Water Access N

Roof Type Flat

Accessibility None

Parking Type On Street

Garage N

Building

Sewer Other

Water Other

Architectural Style Unit/Flat

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0311100521 036

Ownership Other

Acceptable Financing Cash, Conventional, Exchange, Farm Credit Service, FHA, FHVA, FNMA, State GI Loan, USDA, VA, Variable, VHDA

Listing Terms Cash, Conventional, Exchange, Farm Credit Service, FHA, FHVA, FNMA, State GI Loan, USDA, VA, Variable, VHDA

Financing Cash,Conventional,Exchange,Farm Credit Service,FHA,FHVA,FNMA,State GI Loan,USDA,VA,Variable,VHDA

Special Listing Condition Standard

Read Less Info
Bright MLS (BMLS)
Listed by Menachem M. Dalfin • Midfield Realty

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