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About the Listing BFRI1 - 3099618
2924 Saint Paul Street presents a Charles Village value-add apartment building with below-market rents, deferred maintenance, and long-term ownership history. Investors have the flexibility to execute a renovation strategy that matches their budget and goals, whether through cosmetic apartment updates, mid-grade renovations, complete gut rehabs as units become available, or capital improvements to the building’s systems and common areas. The property consists of 4 apartments: 3 two-bedroom apartments and 1 one-bedroom apartment. The apartments are notably large, with two bi-level layouts, Apartment 2 occupying the full second floor, and Apartment 3 occupying the full third floor. Kitchens have been modernized over time with newer laminate countertops, wood cabinetry, and 20" or 30" gas ranges. Bathrooms have modern vanities and steel or cast-iron tubs, with surrounds consisting of vinyl, fiberglass, or ceramic tile. 2924 Saint Paul is located just two blocks from Johns Hopkins University’s Homewood campus and one block east of Wyman Park Dell, placing the property directly in one of Baltimore’s strongest student and professional rental corridors. The Johns Hopkins Shuttle stops just two blocks south, connecting riders to Peabody, Johns Hopkins Hospital, Broadway research facilities, and Bayview Medical Center. Current rents remain below prevailing market levels in the Hopkins corridor, creating a clear path to income growth as leases turn. At the asking price of $570,000, the property is offered at $142,500 per unit and $182 per sq. ft., with projected market-rent metrics of 7.7x GRM, 8.70% cap rate, and 10.0% projected cash-on-cash return. A rare opportunity to acquire a 4-unit Charles Village apartment building with large layouts, rent growth upside, and long-term demand driven by Johns Hopkins University.
Listing Highlights
Status
Active
Days on Site
4
Property Type
Multi-Family
MLS ®
MDBA2219836
Year Built
1900
Total Square Footage
5,500
Lot/Acreage
0.07
Interior Details
- Bedrooms: 7
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 5500
- Below Ground Sq Ft: 0
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Parking Spaces: 2
- Lot Dimensions: 17'6" x 184'4"
- Zoning: Licensed for 4 Dwelling Units
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Driveway,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $5,900
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
2924 Saint Paul St Baltimore, MD 21218
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