Skip To Content

305 W Madison Street

BALTIMORE, MD 21201
  • $370,000
  • STATUS: Active
  • ON SITE: 40 Days
  • ID#: MDBA2121226
UPDATED: 162 min ago
$370,000
  • 0
    BEDS
  • 0.02
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

The investment opportunity at 305 W. Madison Street, a multifamily property in Baltimore's historic Mount Vernon neighborhood, offers several compelling highlights:Value-Add Potential: There's significant potential for increasing rental income through modest modernization efforts, primarily focusing on common area improvements and kitchen and bath updates. Current rents are below market rates, offering the opportunity to raise them by approximately 40%. Additionally, there's potential to convert one unit into a legal studio apartment and recover utility costs by billing tenants.Proximity to Schools and Employers: The property is near educational institutions like the University of Baltimore Law School, MICA, and Johns Hopkins Peabody Institute, making it attractive to students. It's also across the street from the University of Maryland Medical Center, Midtown Campus, and major employers in Downtown Baltimore and the Inner Harbor, providing job opportunities for residents. With excellent walk and transit scores, residents have easy access to public transportation options.Desirable Location: Situated in a highly sought-after neighborhood catering to young professionals, millennials, and students. It's at the center of the ongoing Howard Street Revitalization and close to the Bromo Arts District, with amenities like the Howard Street Dog Park nearby. Highly Desirable Residential Area: Mount Vernon offers an eclectic mix of boutique shops, gourmet restaurants, trendy bars, and cultural events throughout the year. It's close to prestigious cultural landmarks, including the Meyerhoff Symphony Hall and the Lyric Opera House, as well as dining and retail options along the Charles Street Retail Corridor.Overall, 305 W. Madison Street presents a promising investment opportunity due to its prime location, potential for rental income growth, and proximity to amenities, schools, and employers.

Monthly Payment Calculator



©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gail Nyman Group | Re/Max United Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-28T15:53:54.863.
www.gailnymanhomes.com/homes/149223055
Print Image

305 W Madison Street BALTIMORE, MD 21201

  • Price: $370,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 162 min ago
  • ID#: MDBA2121226
0
Beds
0
Baths
0
½ Baths
0.02
Acres
1900
Built
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
The investment opportunity at 305 W. Madison Street, a multifamily property in Baltimore's historic Mount Vernon neighborhood, offers several compelling highlights:Value-Add Potential: There's significant potential for increasing rental income through modest modernization efforts, primarily focusing on common area improvements and kitchen and bath updates. Current rents are below market rates, offering the opportunity to raise them by approximately 40%. Additionally, there's potential to convert one unit into a legal studio apartment and recover utility costs by billing tenants.Proximity to Schools and Employers: The property is near educational institutions like the University of Baltimore Law School, MICA, and Johns Hopkins Peabody Institute, making it attractive to students. It's also across the street from the University of Maryland Medical Center, Midtown Campus, and major employers in Downtown Baltimore and the Inner Harbor, providing job opportunities for residents. With excellent walk and transit scores, residents have easy access to public transportation options.Desirable Location: Situated in a highly sought-after neighborhood catering to young professionals, millennials, and students. It's at the center of the ongoing Howard Street Revitalization and close to the Bromo Arts District, with amenities like the Howard Street Dog Park nearby. Highly Desirable Residential Area: Mount Vernon offers an eclectic mix of boutique shops, gourmet restaurants, trendy bars, and cultural events throughout the year. It's close to prestigious cultural landmarks, including the Meyerhoff Symphony Hall and the Lyric Opera House, as well as dining and retail options along the Charles Street Retail Corridor.Overall, 305 W. Madison Street presents a promising investment opportunity due to its prime location, potential for rental income growth, and proximity to amenities, schools, and employers.
Exterior Features

Construction Materials Stick Built Garage YN No Parking Types On Street Roof Flat Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3750.00 Cooling Window Unit(s) Heating Radiator Heating YN Yes Net Square Feet 3750.00

Property Features

Accessibility Features Other Central Air YN No Cooling Fuel Electric Heating Fuel Natural Gas Hot Water Other Municipality Baltimore City Navigable Water YN N New Construction YN No Number Of Units Total 5 Original MLSNumber 802987675162 Ownership Interest Fee Simple Property Sub Type Five Or More Units Sale Type Standard Sewer Other Tax Annual Amount 5216.00 Tax Lot 036 Vacation Rental YN No Water Source Other Zoning C-1

Listing courtesy of Greysteel Company LLC: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gail Nyman Group | Re/Max United Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-28T15:53:54.863.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802987675162-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802987675162-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802987675162-2.jpg
Logo
Gail Nyman Group | Re/Max United Real Estate
14340 Old Marlboro Pike
Upper Marlboro MD, 20772