1200 N Caroline Street
Baltimore, MD, 21213 $ 925,000
Bedrooms18 Baths0.0 Monthly Estimate*
$ 6,148
for $925,000 with 18 bedrooms. This home was built in 1900 on a lot size of 0.15.
Incredible 12-Unit Multi-Family Property! Amazing Value at less than $80,000 per Unit! Combining 1200 & 1202 N Caroline St, this remarkable property combines to create an impressive nearly 10,000 sq. ft. corner building boasting fantastic apartment layouts, robust cash flow, and substantial equity potential. Built in a bygone era, this sturdy property features a majestic entrance, exquisite custom millwork, and soaring ceilings. This expansive building offers serene living spaces for tenants and presents a desirable mix of apartment layouts, including eight two-bedroom units, two one-bedroom units, and two studios. Each unit is separately metered, with tenants responsible for their own gas and electric expenses. A diverse tenant base, comprising both market-rate tenants and Section 8 occupants, maintains stable rents averaging approximately $1,000 per month, resulting in a gross annual rental income of $125,000. The owner has made substantial investments, totaling over $100,000, to stabilize the property, yielding an impressive 8% Cap Rate for prospective buyers. This presents a tremendous opportunity to further enhance cash flow and equity. By increasing rents to a reasonable $120,000 per unit and $1,200 per month, potential equity of up to $500,000 could be generated, along with a likely 10+% cap rate. Situated on a spacious lot measuring 49ft by 159ft, spanning the entire block from Caroline to Spring St, the property enjoys adjacency to Madison Square Park, Recreation Center, and Playground, offering unobstructed city views. Just half a mile from Johns Hopkins Medical Campus, the property is ideally located amidst the vibrant East Baltimore Development, featuring 1.7 million square feet of life sciences research and office space, educational institutions, green areas, grocery stores, and other essential neighborhood amenities. View the uploaded floor plans to envision the building's layout. While interior photos are limited due to occupied units, this is an exceptional investment opportunity to purchase, enhance, and hold for generations. Dont let this opportunity pass you by call today for more information!
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FeaturesInteriorHeating Fuel Natural Gas
Basement Partial Unfinished
Hot Water 60+ Gallon Tank
Basement (Y/N) Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix STREET
Central Air Y/N N
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GeneralSewer Public Sewer
Heating Radiator
Cooling None
Possession Settlement
Zoning R-8
Architectural Style Federal
Construction Materials Brick
Year Built 1900
Property SubType Other
Tax Year 2024
Percent Ownership Fee Simple
Cool Fuel Electric
Municipality Baltimore City
Section 01
Gross Income 125474.00
Accessibility None
County BALTIMORE CITY
Net Operating Income 76338.00
Operating Expense 64481.00
New Construction N
Property Type Multi-Family
Subdivision Name OLIVER
Garage Y/N N
Water Access Y/N N
Other Structures Above Grade Below Grade
Status ACTIVE
Directions GPS
City BALTIMORE
Buyer Agent Compensation 2.25
Disclosures Prop Disclaimer Prop Disclosure
Total Units 1
Lot Size Square Feet 6355.00
Waterfront Y/N N
Number of Units Leased 12
Street Name CAROLINE
Tax Annual Amount 8186.0
Property Condition Good
Two Bedroom 8
Structure Type Other
Price Per Sq Ft Total 92.5
Acceptable Financing Conventional
Vacation Rental Y/N N
Days on Market 79
Lease Type Yearly
Standard Status Active
Year Built Source Assessor
Legal Subdivision Ward 10
Tax Lot 044
Total Actual Rent 125000.00
Cap Rate 8.03
Buyer Agent Compensation Type % Of Gross
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ExteriorPool No Pool
Water Source Public
Type of Parking On Street
Water View Y/N N
Lot Size Acres 0.15
Lot Size Units Square Feet
Lot Size Source Estimated
Land Assessed Value 25000.00
Navigable Water Y/N N
Water Oriented Y/N N
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* Excluded FeaturesList Bymyhome@lazarz-lynch.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $6,148
- Monthly Property Taxes
- $682
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Baltimore, MD
Average List Price $392,641
Percent of Sale Price 58%
About Baltimore, MD 611,326 Population
-6% Since 2002
$ 46,538 Median Income
36.71 Median Age
22% Households with Children
Trends Information provided by ATTOM Data Solutions.
3533253 Elementary School
3533153 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/17/2024 | $925,000 | -2.63% | Price Down |
3/1/2024 | $950,000 | | Listed Price |