305 W Madison St, Baltimore, MD 21201

For Sale

305 W Madison St, Baltimore, MD 21201, Baltimore, MD 21201

This Baltimore property for sale is located at 305 W Madison St, Baltimore, MD 21201. The current listed sale price for 305 W Madison St, Baltimore, MD 21201 is $400,000.

Contacts

broker
Yaakov Kanevsky

Midfield Realty

broker
Mendel Dalfin

Midfield Realty

Property Details

  • Property Type Other
  • Units 6
  • Additional Rent Contact for pricing
  • Date Updated Dec 20, 2024

Property Overview

The property at 305 W Madison St, Baltimore, MD 21201 is a five-unit multifamily building with a mix of studio and one-bedroom units. Some of the units have already been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors.

Value-Add Potential

The property offers substantial value-add potential for investors, with the opportunity to increase rents by ~59%, or approximately $200 per unit. This creates a clear path to significantly enhance cash flow and maximize returns. With a handful of units already renovated investors can implement additional improvements to the remaining units to further boost rental income and overall property value. Additionally, the onsite laundry offers further income-generating potential.

Prime Location and Area Benefits

Located in the heart of Baltimore, the property is close to major institutions such as Johns Hopkins University and the University of Maryland Medical Center, offering proximity to key employment centers. Nearby universities like the University of Baltimore and Maryland Institute College of Art (MICA) also enhance the area's appeal. The property benefits from easy access to major highways such as I-83 and I-95, and is close to the State Center subway station, ensuring excellent transportation options. Additionally, being near an Opportunity Zone provides potential tax incentives for investors.

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Highlights

  • - Multi-unit property positioned to benefit from the strong demand for urban living in a popular, walkable community with a walk score of 98
  • - Ideal for investors seeking a property with solid rental potential in a vibrant, high-demand area.
  • - Opportunity to implement value-add renovations, including unit upgrades and amenity enhancements, to increase rental income by ~59%
  • - Walking distance to Baltimore Penn Station, connecting to MARC, Amtrak, and light rail services, providing easy access to Washington, D.C., Philadelphia, and beyond.
  • - Located close to I-83 and Route 40, offering seamless connections to major highways, downtown Baltimore, and surrounding suburban areas.
  • - Property has washer and dry facility available for tenant's convenience
  • - Some of the units were recently renovated.
  • - Property has 5 legal units with 1 extra unit

Getting around

  • 98/100

    Walk Score ®

  • 100/100

    Transit Score ®

  • 85/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Baltimore, MD
  • Neighborhood Mount Vernon
  • Zip Code 21201
  • Market Baltimore

Points of Interest

  • Mount Vernon

    0.09 miles

  • State Center

    0.29 miles

  • Lexington Market

    0.36 miles

  • Cultural Center

    0.39 miles

  • Mount Royal / MICA

    0.64 miles

  • Charles Center

    0.64 miles

  • Baltimore Arena

    0.65 miles

  • Baltimore Penn Station

    0.70 miles

  • Upton

    0.92 miles

  • Shot Tower

    0.96 miles

  • Gulf

    0.32 miles

  • Exxon

    0.37 miles

  • Carroll Motor Fuels

    0.58 miles

  • ChargePoint

    0.58 miles

  • Front Street Fuel Station (Government only)

    0.70 miles

  • Marathon

    0.86 miles

  • Sunoco

    0.95 miles

  • Oceanic

    1.02 miles

  • Crown

    1.13 miles

  • Maryland Science Center

    1.27 miles

  • Monument Place Resident Parking

    0.04 miles

  • Maryland General Hospital Parking Garage

    0.05 miles

  • 15 W. Franklin Street Garage

    0.32 miles

  • B

    0.33 miles

  • Cathedral Street Lot

    0.33 miles

  • Symphony Center Parking

    0.34 miles

  • Park PMI

    0.37 miles

  • Maryland Avenue Garage

    0.37 miles

  • PNC Bank

    0.38 miles

  • Market Center Garage

    0.41 miles

  • Biltmore Suites Hotel - Main Building

    0.08 miles

  • Biltmore Suites Hotel - Park Avenue Building

    0.09 miles

  • Revival Baltimore

    0.18 miles

  • Hotel Brexton

    0.23 miles

  • Hotel Indigo

    0.28 miles

  • Ulysses

    0.29 miles

  • Midtown Inn

    0.35 miles

  • La Quinta

    0.35 miles

  • Hostelling International

    0.36 miles

  • La Quinta Inn & Suites Baltimore Downtown

    0.36 miles

  • Eddie's of Mount Vernon

    0.27 miles

  • Po Tung Oriental Grocery

    0.33 miles

  • 7 Food Market

    0.36 miles

  • Save-A-Lot

    0.46 miles

  • Streets Market & Cafe

    0.48 miles

  • Charles Plaza

    0.48 miles

  • Harlem Grocery

    0.70 miles

  • O K Groceries

    0.80 miles

  • OK Market & Deli

    0.86 miles

  • The Gallery at Harborplace

    0.89 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact 305 W Madison St, Baltimore, MD 21201