Description

112 East 20th Street has been owned by the same party for about 50 years, with minimal capital improvements and rents maintained below current market levels. This long-term ownership profile creates an opportunity to acquire at a lower price per unit, with multiple paths to increase income through rent adjustments and targeted upgrades.

3-unit multifamily investment opportunity in Baltimore’s Barclay neighborhood, just five blocks north of Penn Station. Offered at $240,000 ($80,000 per unit), this income-producing property features two two-bedroom apartments and one one-bedroom apartment in a centrally located rental corridor with convenient access to Johns Hopkins University, Station North, I-83, and downtown Baltimore.

Units feature plaster walls and ceilings, a mix of wood and vinyl flooring, and functional layouts. Kitchens include wood cabinetry, with two apartments offering laminate countertops and one with a porcelain sink top. Bathrooms include cast-iron tubs with ceramic tile or vinyl surrounds.

The property is heated by a Trane gas-fired furnace with a central 40-gallon gas water heater. The building is separately metered with four electric meters and three gas meters. Currently, the landlord pays public service bills and one electric meter serving an apartment; however, a future owner could modify lease terms to transition electric service to tenants.

Located in the revitalizing Barclay neighborhood between Station North and Charles Village, the property benefits from walkable access to Penn Station with MARC and Amtrak service connecting Baltimore to Washington, D.C. and the broader Northeast corridor. Market rent projections supported by comparable units indicate strong income potential, with renovated apartments in the area achieving rents of $1,500+ per month.