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1200 N Caroline Street

Baltimore, MD 21213

– beds
– baths
10,000 sqft
6,355 sqft lot
$95 per sqft
1900 build

Incredible 12-Unit Multi-Family Property! Amazing Value at less than $80,000 per Unit! Combining 1200 & 1202 N Caroline St, this remarkable property combines to create an impressive nearly 10,000 sq. ft. corner building boasting fantastic apartment layouts, robust cash flow, and substantial equity potential. Built in a bygone era, this sturdy property features a majestic entrance, exquisite custom millwork, and soaring ceilings. This expansive building offers serene living spaces for tenants and presents a desirable mix of apartment layouts, including eight two-bedroom units, two one-bedroom units, and two studios. Each unit is separately metered, with tenants responsible for their own gas and electric expenses. A diverse tenant base, comprising both market-rate tenants and Section 8 occupants, maintains stable rents averaging approximately $1,000 per month, resulting in a gross annual rental income of $125,000. The owner has made substantial investments, totaling over $100,000, to stabilize the property, yielding an impressive 8% Cap Rate for prospective buyers. This presents a tremendous opportunity to further enhance cash flow and equity. By increasing rents to a reasonable $120,000 per unit and $1,200 per month, potential equity of up to $500,000 could be generated, along with a likely 10+% cap rate. Situated on a spacious lot measuring 49ft by 159ft, spanning the entire block from Caroline to Spring St, the property enjoys adjacency to Madison Square Park, Recreation Center, and Playground, offering unobstructed city views. Just half a mile from John’s Hopkins Medical Campus, the property is ideally located amidst the vibrant East Baltimore Development, featuring 1.7 million square feet of life sciences research and office space, educational institutions, green areas, grocery stores, and other essential neighborhood amenities. View the uploaded floor plans to envision the building's layout. While interior photos are limited due to occupied units, this is an exceptional investment opportunity to purchase, enhance, and hold for generations. Don’t let this opportunity pass you by – call today for more information!

Listing courtesy of BRIGHT / ExecuHome Realty

Last checked: Checking… • Last updated Mar 1, 2024 •

MLS# MDBA2113570 —

The Building

Year Built:

1900
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Brick
Structure Type:

Other
Architectural Style:

Federal
Building Units Total:

1
Accessibility Features:

None
Basement:

Yes
Basement Type:

Partial, Unfinished
Total SqFt Source:

Estimated
Total Below Grade SqFt:

250
Total Below Grade SqFt Source:

Estimated
Tax Total Finished SqFt:

6355

Interior

Fireplace:

No
Living Area SqFt Source:

Estimated

Room Dimensions

Total SqFt:

10250
Living Area SqFt:

10,000 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Conventional
Possession:

Settlement

Location

Directions:

GPS
Cross Street:

Biddle
Latitude:

39.30427000
Longitude:

-76.59839000

The Property

Property Type:

Multi-Family
Property Subtype:

Other
Property Condition:

Good
Lot Size Units:

Square Feet
Lot Size Acres:

0.15
Lot Size Source:

Estimated
Lot SqFt:

6,355 Sqft
Zoning:

R-8
In City Limits:

Yes
Other Structures:

Above Grade, Below Grade
Water View:

No
Waterfront:

No
Water Oriented:

No
Water Access:

No
Navigable Water:

No
Tidal Water:

No
Land Use Code:

M
Ground Rent Exists:

No
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

0310011162 044
Tax Year:

2023
Tax Lot:

044
Tax Annual Amount:

$8,186
Tax Assessed Value:

$346,867
Year Assessed:

2023
County Tax:

388.00
City/Town Tax:

7798.00
Total Taxes Payment Frequency:

Annually

The Listing

Buyer's Brokerage Compensation:

2.25%
Buyer Agency Comp Type:

% Of Gross
Buyer Agency Comp Selection:

Percent

Heating & Cooling

Cooling Type:

None
Central Air:

No
Cooling Fuel:

Electric
Heating:

Yes
Heating Type:

Radiator
Heating Fuel:

Natural Gas

Utilities

Sewer/Septic:

Public Sewer
Hot Water:

60+ Gallon Tank
Water Source:

Public

Schools

School District Name:

Baltimore City Public Schools
School District Source:

Listing Agent

The Community

Subdivision Name:

Oliver
Pool:

No Pool
Transportation:

Metro/Subway Station less than 1 mile, Bus Stop less than 1 mile
Cap Rate:

8.03

Parking

Garage:

No
Type of Parking:

On Street

Extra Units

Other Units:

Unit 1,Unit 2,Unit 4,Unit 5,Unit 8,Unit 3,Unit 6,Unit 7,Unit 9,Unit 10,Unit 10,Unit 10
Vacation Rental:

No
Single Room Units:

2
One Bedroom Units:

2
Two Bedroom Units:

8

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
2/29/24 Feb 29, 2024	Listed / Active	BRIGHT	$950,000

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This multifamily located in Eastern Baltimore, Baltimore, MD 21213 is currently for sale for $950,000. 1200 N Caroline Street is a 10,000 square foot multifamily with – beds and – baths. 1200 N Caroline Street is in the Eastern Baltimore neighborhood of Baltimore and has a WalkScore® of 77, making it very walkable. This multifamily is in the attendance area of Dr. Bernard Harris Sr. Elementary School, Paul Laurence Dunbar High School, Fort Worthington Elementary School, Stadium School, Booker T. Washington Middle School, Digital Harbor High School, Augusta Fells Savage Institute Of Visual Arts, Vivien T. Thomas Medical Arts Academy, Frederick Douglass High School, and Patterson High School.

Listing Courtesy of: BRIGHT and ExecuHome Realty.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.