305 W Madison Street Baltimore, MD $ 370,000
305 W Madison Street
$ 370,000
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305 W Madison Street

Baltimore, MD, 21201
$ 370,000
Baths0.0 Sq 3,750

Monthly Estimate*

$ 2,585

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Studio

Commercial Property for sale in Baltimore, MD

for $370,000. This 3,750 square foot building was built in 1900 on a lot size of 0.02.

The investment opportunity at 305 W. Madison Street, a multifamily property in Baltimore's historic Mount Vernon neighborhood, offers several compelling highlights: Value-Add Potential: There's significant potential for increasing rental income through modest modernization efforts, primarily focusing on common area improvements and kitchen and bath updates. Current rents are below market rates, offering the opportunity to raise them by approximately 40%. Additionally, there's potential to convert one unit into a legal studio apartment and recover utility costs by billing tenants. Proximity to Schools and Employers: The property is near educational institutions like the University of Baltimore Law School, MICA, and Johns Hopkins Peabody Institute, making it attractive to students. It's also across the street from the University of Maryland Medical Center, Midtown Campus, and major employers in Downtown Baltimore and the Inner Harbor, providing job opportunities for residents. With excellent walk and transit scores, residents have easy access to public transportation options. Desirable Location: Situated in a highly sought-after neighborhood catering to young professionals, millennials, and students. It's at the center of the ongoing Howard Street Revitalization and close to the Bromo Arts District, with amenities like the Howard Street Dog Park nearby. Highly Desirable Residential Area: Mount Vernon offers an eclectic mix of boutique shops, gourmet restaurants, trendy bars, and cultural events throughout the year. It's close to prestigious cultural landmarks, including the Meyerhoff Symphony Hall and the Lyric Opera House, as well as dining and retail options along the Charles Street Retail Corridor. Overall, 305 W. Madison Street presents a promising investment opportunity due to its prime location, potential for rental income growth, and proximity to amenities, schools, and employers.

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Commercial Active

Price

$ 370,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 5,216

Style

Apartment Building

Lot Size

0.02

Year Built

1900

Town/City

Baltimore

County/Region

Baltimore City

MLS | Web ID

MDBA2121226

Features
Interior
Heating Fuel Natural Gas
Hot Water Other
Heating Y/N Y
Street Suffix STREET
Central Air Y/N N
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General
Sewer Other
Heating Radiator
Cooling Window Unit(s)
Possession 31-60 Days CD
Roof Flat
Zoning C-1
Construction Materials Stick Built
Year Built 1900
Property SubType Five Or More Units
Tax Year 2024
Percent Ownership Fee Simple
Cool Fuel Electric
Municipality Baltimore City
Business Type Apartment Building
Accessibility Other
County BALTIMORE CITY
New Construction N
Property Type Commercial Sale
Water Access Y/N N
Status ACTIVE
Directions Use Google Maps Corner of N Charles and W 22nd Street in Charles North
City BALTIMORE
Buyer Agent Compensation 2.5
Total Units 5
Lot Size Square Feet 900.00
Waterfront Y/N N
Street Name MADISON
Tax Annual Amount 5216.0
Price Per Sq Ft 98.67
Vacation Rental Y/N N
Days on Market 28
Standard Status Active
Year Built Source Estimated
Legal Subdivision Ward 11
Tax Lot 036
Buyer Agent Compensation Type % Of Gross
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Exterior
Water Source Other
Type of Parking On Street
Water View Y/N N
Building Area Total 3750.00
Lot Size Acres 0.02
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 76500.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 305
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* Excluded Features
List By
Greysteel Company Llc

Broker

midatlanticmf@greysteel.com

Email

Affordability Calculator

$3,019
Per Month
86%
14%
0%
Monthly Principal & Interest
$2,585
Monthly Property Taxes
$435
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/13/2024$370,000 Listed Price

Map


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305 W Madison Street, Baltimore, MD, 21201 is a Commercial Property for sale at $370,000 with 3,750 sqft and a lot size of 0.02. 305 W Madison Street is a studio with 0.0 baths and was built in 1900. The property's zip code is 21201 which is in Baltimore, MD