34
See all 34 photos
$200,000
Est. payment /mo
3,750 SqFt
New
305 W MADISON ST Baltimore, MD 21201
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
02/24/2025 05:43 PM
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,750 sqft
Price per Sqft $53
MLS Listing ID MDBA2157328
Originating Board BRIGHT
Year Built 1920
Annual Tax Amount $5,906
Tax Year 2024
Lot Size 900 Sqft
Acres 0.02
Property Sub-Type Five Or More Units
Property Description
List price to be opening bid at online only auction. Online auction to be conducted on Auctioneers website. Bidding begins Saturday, February 22nd and ends Thursday, February 27, 2025 at 11:00AM. The property at 305 W Madison St, Baltimore, MD 21201 is a configured as a six-unit multifamily building with a mix of studio and one-bedroom units. Although the building is configured as 6 units, the multi family license is for 5 units. Some of the units have been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors. The property offers substantial value-add potential for investors, with the opportunity to increase rents by 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. Unit 1F is a studio currently vacant. Unit 1R is a studio rented for $750/month. Unit 2R is a studio currently vacant. Unit 3R is a studio rented for $619/month. Unit 2F is a 1BR/1BA rented for $875/month. Unit 3F is a 1BR/1BA rented for $700/month. Laundry brings in approximately $75-$100/month. Current gross monthly income of $3,044. Current gross annual scheduled income of $36,528.
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.
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 Other
Cooling Other
Heat Source Other
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311100521 036
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction
Listed by Matthew S Cooper • Alex Cooper Auctioneers, Inc.