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Listed by Yaakov Kanevsky • Midfield Realty
$ 1,590,000
Est. payment | /mo
$ 1,590,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID MDBA2198282
Style Other
Year Built 1900
Annual Tax Amount $14,183
Tax Year 2026
Property Sub-Type Other
Source BRIGHT
Property Description
2107–2111 Park Avenue is a 16-unit multifamily investment opportunity located in Baltimore's Mount Royal/Reservoir Hill submarket, offering excellent access to major transportation corridors, Mount Royal/University of Baltimore Station, and Baltimore Penn Station. The property benefits from close proximity to Johns Hopkins University, MICA, the University of Baltimore, and the ongoing Reservoir Square revitalization—supporting long-term rental demand and neighborhood momentum.
The asset is currently underperforming, with average in-place rents of approximately $1,060 per unit, roughly 50% below the estimated market average of $1,800, creating a clear value-add runway through lease-up and rent growth. Gross rental income is projected to increase from approximately $181,000 at current rents to $352,000 in Year 1, driving NOI growth from $78,426 currently to approximately $219,380 in Year 1 as vacancy is absorbed and under-market units are brought to market rates.
The property offers spacious unit layouts with hardwood floors and private balconies, ample parking, shared laundry facilities, and separately metered gas and electric—helping reduce owner expense exposure.
The asset is currently underperforming, with average in-place rents of approximately $1,060 per unit, roughly 50% below the estimated market average of $1,800, creating a clear value-add runway through lease-up and rent growth. Gross rental income is projected to increase from approximately $181,000 at current rents to $352,000 in Year 1, driving NOI growth from $78,426 currently to approximately $219,380 in Year 1 as vacancy is absorbed and under-market units are brought to market rates.
The property offers spacious unit layouts with hardwood floors and private balconies, ample parking, shared laundry facilities, and separately metered gas and electric—helping reduce owner expense exposure.
Location
State MD
County Baltimore City
Zoning R-7
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0313113455 027
Ownership Other
Special Listing Condition Standard
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