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About the Listing BFRI1 - 3099618
New Price: $395,000. 885 West Lombard Street is a licensed four-unit Hollins Market apartment building with three occupied apartments generating $2,820 per month and one vacant apartment. An investor can lease the vacant apartment and increase below-market rents, while an owner-occupant can live in the vacant unit and use the existing rental income to offset the monthly mortgage payment. Offered at $98,750 per unit with a 14.3% projected cash-on-cash return. ● 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. The property also passes the FHA self-sufficiency test, supporting owner-occupant financing with as little as 3.5% down. At the new $395,000 price and an illustrative 6.50% interest rate, estimated monthly PITI and mortgage insurance is $3,545. With estimated rents of $2,950 from the remaining three apartments, an owner occupying Apartment 1 could have a net monthly housing cost of $595. *Ask us for details! 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 for 885 W Lombard St
Status
Active
Days on Site
14
Property Type
Multi-Family
MLS ®
MDBA2236376
Year Built
1890
Total Square Footage
3,705
Lot/Acreage
0.05
Interior Details
- Bedrooms: 3
- Appliances:
- Air Cond: Central A/C,Window Unit(s),Wall Unit
- Heating: Forced Air,Wall Unit
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 3705
- 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
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Listing Location
Questions About..
885 W Lombard St Baltimore, MD 21201
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