4,544 SqFt
4,544 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,544 sqft
Price per Sqft $198
MLS Listing ID MDBA2152036
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $11,183
Tax Year 2024
Property Description
This fully renovated property consists of five residential units and one ground-floor retail space, complemented by two private parking spaces at the rear. Each residential unit has been updated with modern finishes, including granite countertops, laminate flooring, white shaker cabinets, and in-unit washers and dryers. The property features individual split heating and cooling systems in the residential units, while the basement and retail space benefit from central HVAC. All systems, including a two-year-old roof, are relatively new, ensuring efficient operations and tenant satisfaction.
The property's location is ideal for attracting both residential and commercial tenants. It is situated directly across from the University of Baltimore (3,288 students) and within 0.5 miles of MICA (1,952 students). Tenants also enjoy unparalleled convenience with nearby amenities such as Starbucks, Chipotle, and local favorites like Turp's Sports Bar & Restaurant. Just 0.2 miles from Baltimore Penn Station and directly off the I-83 highway, the property provides easy access to Washington, D.C., and New York, making it highly appealing to professionals and students alike. The proximity to cultural landmarks, including the Joseph Meyerhoff Symphony Hall, adds to the area's vibrancy.
From a financial perspective, the property offers significant upside. Currently 83% leased, there is an opportunity to increase rents by 23.5% to meet market rates, leveraging its high-quality renovations and prime location. Additionally, buyers can assume existing debt with a competitive 5.8% interest rate, an attractive option in today's high-rate environment. Located within the CHAP Historic Tax Credit zone, the property also offers potential tax savings for future renovations, further enhancing its value as a long-term investment. 1303 N Charles Street is an exceptional opportunity for investors seeking stable income and growth potential in a sought-after urban location.
Location
State MD
County Baltimore City
Zoning C-2
Interior
Hot Water Other
Heating Hot Water
Cooling Other
Heat Source Other
Exterior
Garage Spaces 2.0
Water Access N
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Other
Water Other
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0311010466 002
Ownership Other
Special Listing Condition Standard
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1050 Industrial Dr #110, Middletown, Delaware, 19709, USA