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1200 N Caroline Street, Baltimore, MD 21213
$925,000 -$25,000 (-2.63%) Price Reduced
1200 N Caroline Street, Baltimore, MD 21213View this property at 1200 N Caroline Street, Baltimore, MD 21213
1200 N Caroline StreetBaltimoreMD21213
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Property Description
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!
Full Property Details
Full Property Details for 1200 N Caroline St
General
- Price: $925,000
- Taxes: $8,186 (2024)
- Status: Active
- Type: Apartment
- MLS ID: MDBA2113572
- Updated: 5/17/2024
- Added to Site: 99 day(s) ago
Business
- Business Type: Apartment Building
Interior
- Flooring: Hardwood, Vinyl
Parking
- Parking Type: On Street
Location
- Municipality: Baltimore City
- County: Baltimore City
- Development Name: Oliver
- Subdivision: Oliver
- Cross Streets: Biddle
- Driving Directions: GPS
- City Limits: Yes
Heating & Cooling
- Cooling Type: None
- Cooling Fuel: Electric
- Heating Type: Radiator
- Heating Fuel: Natural Gas
- Water Heater: 60+ Gallon Tank
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick
- Roof: Flat, Rubber
- Stories/Levels: 0
- Year Built: 1900
- Year Built Source: Assessor
- Property Condition: Good
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.15
- Lot Size (Sq. Ft.): 6,355
- Lot Size Source: Estimated
- Zoning: R-8
Financial Considerations
- Price Per Sq. Ft.: $145.55
- Operating Expenses: $49,135
- Assessment Year: 2024
- City/TownTax: $7,798
- City/TownTax Freq: Annually
- County Tax: $388
- County Tax Freq: Annually
- Tax w/Assessment: $423,733
- Tax Amount: $8,186
- Tax Year: 2024
- Owner Pays: Taxes - Real Estate, Common Area Maintenance, Insurance, Water, Advertising/Licenses and Permits, Accounting/Legal, Miscellaneous, Repairs
- Landlord Pays: Taxes - Real Estate, Common Area Maintenance, Insurance, Water, Advertising/Licenses and Permits, Accounting/Legal, Miscellaneous, Repairs
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.25%
- Ownership: Fee Simple
- Investment: Yes
- Lot Number: 44
Listed by ExecuHome Realty, Dimitrios Lynch
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Schools
Schools serving 1200 N Caroline St
School District:Baltimore City Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
1400 N Caroline St, Baltimore, MD 21213 | PK-5 | 0.2 mi | |
1300 Gorsuch Ave, Baltimore, MD 21218 | PK-5 | 1.2 mi | |
1400 Orleans St, Baltimore, MD 21231 | 9-12 | 0.6 mi | |
1301 McCulloh St, Baltimore, MD 21217 | 9-12 | 1.6 mi | |
1100 Covington St, Baltimore, MD 21230 | 9-12 | 2 mi | |
100 N Calhoun St, Baltimore, MD 21223 | 9-12 | 2.4 mi | |
1500 Harlem Ave, Baltimore, MD 21217 | 9-12 | 2.4 mi | |
2301 Gwynns Falls Pkwy, Baltimore, MD 21217 | 9-12 | 3.1 mi | |
100 Kane St, Baltimore, MD 21224 | 9-12 | 3.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1200 N Caroline St
Date
Details
Price
Change
Source
5/17/2024
Price Reduced
$925,000
-2.63%
MLS
2/10/2024
Price Increased
$950,000
5.56%
MLS
2/09/2024
Listed
$900,000
27.66%
MLS
11/01/2020
Sold
$705,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1200 N Caroline St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,186
28%
$346,867
28%
2022
$6,372
13%
$270,000
13%
2021
$5,625
15%
$238,367
15%
2021
$4,879
19%
$206,733
18%
2020
$4,113
15%
$175,100
16%
2019
$3,568
19%
$151,200
19%
2018
$3,004
23%
$127,300
23%
2017
$2,440
4%
$103,400
3%
2016
$2,357
3%
$100,367
3%
2015
$2,297
10%
$97,333
11%
2013
$2,079
—
$87,333
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1200 N Caroline St
1200 N Caroline Street, Baltimore, MD 21213 (MLS# MDBA2113572) is a Apartment property. 1200 N Caroline Street is currently listed for $925,000 and was received on February 09, 2024. Want to learn more about 1200 N Caroline Street? Do you have questions about finding other Apartment real estate for sale in Baltimore? You can browse all Baltimore real estate or contact a Coldwell Banker agent to request more information.