1200 N Caroline Street

BALTIMORE, MD 21213

  • 0 Bed(s)
  • 0 Bath(s)
  • 6,355 Sqft
  • 6355
    Sqft(Lot)
$850,000

Description

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 john’s 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. don’t let this opportunity pass you by – call today for more information!

  • Property Type

    Multi-Family

  • Subdivision

    Oliver

  • County

    BALTIMORE CITY

  • Style

    Federal

  • AD ID

    45336540

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Property Details

  • Water/Sewer

    • Water Source : Public

    Interior Features

    • Basement Description: Partial,Unfinished

    Heating & Cooling

    • Cooling: None
    • Heating: Radiator
    • Cooling Fuel: Electric
    • Heating Fuel: Natural Gas

  • Building Information

    • Year Built: 1900
    • Structure: Other
    • New Construction: No
    • Total Units: 1
    • Built: 1900
    • Construction Material: Brick
    • Architecture: Federal
    • Pool/Private: No Pool

    Pool Information

    • Pool: No Pool

    Utility Features

    • Sewer: Public Sewer

    Water

    • Water Heat: 60+ Gallon Tank

  • Lot Information

    • Lot Size: 6,355
    • Lot Size (Acres): 0.15
    • Architectural Style: Federal
    • Main Square Feet: 6,355

    Property Information

    • SQ ft: 10,250
    • SQ ft (Living Area): 10,000
    • Total Lot SQ ft: 6,355
    • Subdivision: OLIVER
    • Financing: Conventional
    • Total Acreage: 0.15
    • New Construction: No
    • Type: Federal

  • Listing Information

    • Possession: Settlement
    • Days Of Market: 306

  • Tax Information

    • Annual Tax: $10,000
    • Tax Year: 2024
    • Total Taxes Payment Frequency: Annually

    Possession

    • Settlement

    Assessment Information

    • Taxes Assessment Amount: $423,733

  • Parking Information

    • Parking Type: On Street

    Multi-Unit Information

    • Acceptable Financing: Conventional

    Homeowners Association Information

    • Direction: GPS

  • School Information

    • School District: BALTIMORE CITY PUBLIC SCHOOLS

    Utility Information

    • Water Source: Public
    • Sewer: Public Sewer
    • Cooling Fuel: Electric
    • Heating Fuel: Natural Gas
    • Hot Water: 60+ Gallon Tank

    Location Information

    • Direction: GPS
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BuyOwner last updated this listing 01/15/2025 @ 07:40

  • MLS: MDBA2113570
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Other, with 0 bedrooms which is for sale, it has 6,355 sqft, 6,355 sized lot, and 0 parking. A comparable Other, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of BALTIMORE , in zip code 21213, this BALTIMORE CITY County Other , it is in the OLIVER Subdivision, and are nearby neighborhoods.