CHARIS REALTY GROUP

Other

2111 PARK AVENUE

BALTIMORE , MD 21217

MLS#: MDBA2198282

$1,590,000

Status: Active
Listing number: MDBA2198282
Listing provided by: Midfield Realty
Listing agent phone: None
Last update: 3 hours ago
On site: 5 days ago
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Property

Beds

27

Full Baths

None

1/2 Baths

None

Year Built

1900

Sq.Footage

N/A

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. In addition, the deal is positioned to accommodate seller financing, creating a flexible capital structure that can reduce upfront equity requirements, improve cash-on-cash returns, and allow a buyer to execute the stabilization plan with more favorable terms than traditional bank financing.

Features & Amenities

Interior

  • Total Bedrooms

    27

  • Bathrooms

    N/A

  • Basement YN

    NO

  • Cooling YN

    NO

  • Cooling

    None

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Natural Gas, Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    On Street

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

Area & Lot

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

  • Architectural Style

    Other

Price

  • Sales Price

    $1,590,000

  • Tax Amount

    14183.6

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Sewer

    Public Sewer

  • Tax Lot

    027

  • Water Source

    Public

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Location

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BALTIMORE CITY

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Listing Courtesy of Yaakov Kanevsky , Midfield Realty

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Agent Lorene Cannella

AGENT

Lorene Cannella

Call Lorene today to schedule a private showing.

(410) 925-5340

lorene@charisrealty.com


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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. In addition, the deal is positioned to accommodate seller financing, creating a flexible capital structure that can reduce upfront equity requirements, improve cash-on-cash returns, and allow a buyer to execute the stabilization plan with more favorable terms than traditional bank financing.

2111 PARK AVENUE

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