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2516 N Charles Street

BALTIMORE, MD 21218
  • $1,260,000
  • STATUS: Active
  • ON SITE: 64 Days
  • ID#: MDBA2149608
$1,260,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

> Mixed-use property in high-demand Charles Village, offering a balanced blend of commercial and residential spaces.> Turn-key apartments with individual HVAC systems, modern kitchens, and comfortable finishes attract long-term tenants and reduce vacancy.> Attract quality commercial tenants at the crossroads of Baltimores Main Street, Charles Street, and the bustling 25th Street, recently recognized as Baltimores Black Wall Street.> Leasing additional spaces in the sizable rear parking lot offers a valuable opportunity to boost cash flow and maximize income potential. The apartments feature modern kitchens with a mix of granite and laminate countertops, and wood and laminate cabinets. All kitchens have electric ranges and ceramic tile floors. Bathrooms contain a mix of vinyl shower stalls and steel tubs; all bathrooms have ceramic tile floors. Living areas and bedrooms have comfortable carpeting. Individual HVAC systems for each apartment, vinyl replacement windows, and modern lighting and drywall appeal to todays tenants.The commercial suites have been built out by the tenants to suit their needs. The first floor suites contain a mix of carpet, laminate, and vinyl tile flooring. The basements have ceramic tile floors. Each suite has a half bathroom.Who Pays Which Utilities:2516-2520 North Charles recently underwent a complete electric overhaul, with all units now individually metered and paid directly by tenants. Apartments are self-contained, each featuring its own heat pump, central air, and water heater. Four commercial suites are heated via electric baseboards, while two suites have inactive heating systems with existing distribution (ducts/baseboards) ready for new heat pumps. Gas-fired water heaters serve four of the suites, and each building has one gas meter for commercial gas consumption. Water costs are billed back to all tenants, boosting monthly cash flowA large, 3,418 sq. ft. asphalt lot provides parking in the rear of the building. A savvy landlord would lease out these spaces to increase rental income.The landlord provides a dumpster for trash removal and pays a service to clean common hallways.Whats Great About Charles Village:25th Street is a bustling commercial thoroughfare in North Central Baltimore, home to many small businesses and national retailers alike. Apartment tenants enjoy the close proximity to many retail shops and grocery stores. Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art are all close by.Charles Villages location in central Baltimore makes for an easy commute downtown or to the county via I-83. 2516 " 2520 North Charles Street garners a WalkScore of 96, a TransitScore of 80, and a BikeScore of 85.Investment Summary:$1,260,000$96,923 Per Unit$155 Per Sq. Ft.7.9 Times Market Rents (GRM)8.47% Cap Rate9.1% Projected Cash-on-Cash Return

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©2025 Bright MLS, All Rights Reserved. IDX information 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. 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. Data last updated: 2025-02-07T23:51:49.757.
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2516 N Charles Street BALTIMORE, MD 21218

  • Price: $1,260,000
  • Status: Active
  • On Site: 64 Days
  • ID#: MDBA2149608
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1900
Built
Neighborhood:
Charles Village
County:
Baltimore City
School District:
Baltimore City Public Schools
Property Description
> Mixed-use property in high-demand Charles Village, offering a balanced blend of commercial and residential spaces.> Turn-key apartments with individual HVAC systems, modern kitchens, and comfortable finishes attract long-term tenants and reduce vacancy.> Attract quality commercial tenants at the crossroads of Baltimores Main Street, Charles Street, and the bustling 25th Street, recently recognized as Baltimores Black Wall Street.> Leasing additional spaces in the sizable rear parking lot offers a valuable opportunity to boost cash flow and maximize income potential. The apartments feature modern kitchens with a mix of granite and laminate countertops, and wood and laminate cabinets. All kitchens have electric ranges and ceramic tile floors. Bathrooms contain a mix of vinyl shower stalls and steel tubs; all bathrooms have ceramic tile floors. Living areas and bedrooms have comfortable carpeting. Individual HVAC systems for each apartment, vinyl replacement windows, and modern lighting and drywall appeal to todays tenants.The commercial suites have been built out by the tenants to suit their needs. The first floor suites contain a mix of carpet, laminate, and vinyl tile flooring. The basements have ceramic tile floors. Each suite has a half bathroom.Who Pays Which Utilities:2516-2520 North Charles recently underwent a complete electric overhaul, with all units now individually metered and paid directly by tenants. Apartments are self-contained, each featuring its own heat pump, central air, and water heater. Four commercial suites are heated via electric baseboards, while two suites have inactive heating systems with existing distribution (ducts/baseboards) ready for new heat pumps. Gas-fired water heaters serve four of the suites, and each building has one gas meter for commercial gas consumption. Water costs are billed back to all tenants, boosting monthly cash flowA large, 3,418 sq. ft. asphalt lot provides parking in the rear of the building. A savvy landlord would lease out these spaces to increase rental income.The landlord provides a dumpster for trash removal and pays a service to clean common hallways.Whats Great About Charles Village:25th Street is a bustling commercial thoroughfare in North Central Baltimore, home to many small businesses and national retailers alike. Apartment tenants enjoy the close proximity to many retail shops and grocery stores. Johns Hopkins University, University of Baltimore, and Maryland Institute College of Art are all close by.Charles Villages location in central Baltimore makes for an easy commute downtown or to the county via I-83. 2516 " 2520 North Charles Street garners a WalkScore of 96, a TransitScore of 80, and a BikeScore of 85.Investment Summary:$1,260,000$96,923 Per Unit$155 Per Sq. Ft.7.9 Times Market Rents (GRM)8.47% Cap Rate9.1% Projected Cash-on-Cash Return
Exterior Features

Construction Materials Brick Garage YN No Parking Types Parking Lot Property Condition Very GoodGood Roof Rubber Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 8130.00 Cooling Central A/C Exclusions tenants' possessions Heating Heat Pump(s)Baseboard - Electric Heating YN Yes Inclusions 7 electric ranges7 refrigerators included. Net Square Feet 8130.00

Property Features

Acceptable Financing ExchangePrivateOther Accessibility Features None Central Air YN Yes Cooling Fuel Electric Cross Street 25th Street Electric 200+ Amp Service Heating Fuel Electric Historic YN No Hot Water Multi-tankElectricNatural Gas Navigable Water YN N New Construction YN No Number Of Units Total 13 Original MLSNumber 803515551808 Ownership Interest Fee Simple Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 12789.00 Total Actual Rent 128818.00 Vacation Rental YN No Water Source Public Zoning OR-2 Zoning Description Licensed for 7 Dwelling Units.

Listing courtesy of Ben Frederick Realty, Inc.: .


©2025 Bright MLS, All Rights Reserved. IDX information 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. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. 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. Data last updated: 2025-02-07T23:51:49.757.
 
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