NEW! Buy and sell safely with virtual options - Learn More
About the Listing BFRI1 - 3099618
● Owner-Occupant or Lease-Up Opportunity: Three occupied apartments generate $2,820 per month. Occupy the vacant fourth apartment or lease it at market rent to increase property income. ● University of Maryland Location: Just two blocks from the University of Maryland graduate and professional schools, which do not offer on-campus housing. ● Two-Car Garage: Provides valuable off-street parking in a dense, walkable neighborhood. 885 West Lombard Street is a licensed four-unit apartment building in Hollins Market. The 3,705-square-foot property offers immediate income from three occupied apartments, one vacant apartment, below-market occupied rents, and projected market rents totaling $4,916 per month. An owner-occupant could purchase the property with as little as 3.5% down and live in the vacant apartment. Using a 6.50% interest rate, estimated monthly PITI and mortgage insurance is $3,752. With estimated rents of $2,950 from the remaining three apartments, the owner’s net monthly housing cost would be $802.* Ask us for an illustrative example! Apartments feature wood kitchen cabinetry, laminate countertops, stainless-steel sinks, modern bathroom vanities, and durable laminate or ceramic flooring. Three apartments have individual gas-fired furnaces, while the fourth has an electric wall unit providing heat and air conditioning. The property has five electric meters and three gas meters. Located near UMMC, the University of Maryland BioPark, downtown Baltimore, and Martin Luther King Jr. Boulevard. Garage parking for two cars and potential tenant reimbursement of common-area electric and water expenses provide additional opportunities to increase monthly cash flow.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
MDBA2231896
Year Built
1890
Total Square Footage
3,705
Lot/Acreage
0.05
Interior Details
- Bedrooms: 3
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central A/C,Window Unit(s),Wall Unit
- Heating: Forced Air,Wall Unit
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 3705
- Below Ground Sq Ft: 0
- Basement: Full
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: 2 car
- Parking Spaces: 2
- Lot Dimensions: 18' x 132'
- Zoning: Licensed for 4 Dwelling Units.
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Covered Parking,Garage - Side Entry,Detached Garage,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $6,818
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
885 W Lombard St Baltimore, MD 21201
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
