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$2,000,000
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Property Description
Incredible investment opportunity in the heart of Fells Point! This 9-unit multi-family property at 1516 Lancaster Street offers everything a savvy investor could want-high ROI potential, prime location, and rare amenities. Each unit features 1.5 or 2 bedrooms, and the building includes 9 dedicated parking spots, 9 storage units, and a detached garage-a true luxury in this area. With close proximity to the waterfront, restaurants, and nightlife, this turnkey property is perfectly positioned for strong rental income and long-term appreciation. Don't miss your chance to own a premier asset in one of Baltimore's most desirable neighborhoods.
Full Property Details
Full Property Details for 1516 Lancaster St
General
- Price: $2,000,000
- Taxes: $25,217 (2024)
- Status: Active
- Type: Apartment
- Source: BrightMLSMidAtlantic
- MLS ID: MDBA2164722
- Updated: 8/6/2026
- Added to Site: 491 day(s) ago
Business
- Business Type: Apartment Building
Parking
- Parking Type: None
Location
- Municipality: Baltimore City
- County: BALTIMORE CITY
- Driving Directions: See GPS to 1516 Lancaster Street, Baltimore, MD21231
- City Limits: Yes
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Forced Air
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick, Wood Siding
- Roof: Asphalt
- Building Size: 7520
- Year Built: 1920
- Year Built Source: Assessor
Unit Information
- # Tenants: Multiple
Lot Features
- Lot Size (Acres): 0.12
- Lot Size (Sq. Ft.): 5,049
- Lot Size Source: Assessor
- Zoning: R-8
Financial Considerations
- Price Per Sq. Ft.: $265.96
- Assessment Year: 2025
- City/TownTax: $24,021
- City/TownTax Freq: Annually
- County Tax: $1,197
- County Tax Freq: Annually
- Tax w/Assessment: $1,156,467
- Tax Amount: $25,217
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Investment: Yes
- Section: 7
- Lot Number: 23
Listed by Next Step Realty, James T Weiskerger
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Schools
Schools serving 1516 Lancaster St
School District:Baltimore City Public Schools
| Name | Grades | Distance |
|---|---|---|
City Springs Elementary School 100 South Caroline Street, Baltimore, MD 21231 | PK-8 | 0.5 mi |
The Crossroads School 802 South Caroline Street, Baltimore, MD 21231 | 6-8 | 0.1 mi |
National Academy Foundation 540 North Caroline Street, Baltimore, MD 21205 | 6-12 | 1 mi |
Baltimore Leadership School For Young Women 128 West Franklin Street, Baltimore, MD 21201 | 6-12 | 1.5 mi |
Digital Harbor High School 1100 Covington Street, Baltimore, MD 21230 | 9-12 | 0.8 mi |
Paul Laurence Dunbar High School 1400 Orleans Street, Baltimore, MD 21231 | 9-12 | 0.9 mi |
Baltimore School For The Arts 712 Cathedral Street, Baltimore, MD 21201 | 9-12 | 1.6 mi |
Baltimore Design School 1500 Barclay Street, Baltimore, MD 21202 | 6-10 | 1.9 mi |
Booker T. Washington Middle School 1301 McCulloh Street, Baltimore, MD 21217 | 6-8 | 2.3 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1516 Lancaster St
Date
Details
Price
Change
Source
7/12/2026
Price Reduced
$2,000,000
-16.67%
MLS
4/21/2025
Listed
$2,400,000
110.53%
MLS
10/20/1998
Sold
$1,140,000
—
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 1516 Lancaster St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$27,163
17%
$1,156,467
8%
2023
$23,142
—
$1,068,533
9%
2023
$23,142
1%
$980,600
1%
2022
$22,865
1%
$968,867
1%
2021
$22,588
1%
$957,133
1%
2021
$22,311
2%
$945,400
2%
2020
$21,853
1%
$930,400
2%
2019
$21,603
2%
$915,400
2%
2018
$21,249
5%
$900,400
5%
2017
$20,192
6%
$855,600
6%
2016
$19,044
5%
$810,800
6%
2015
$18,078
8%
$766,000
9%
2013
$16,663
—
$700,133
—
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 1516 Lancaster St
1516 Lancaster Street, Baltimore, MD 21231 (MLS# MDBA2164722) is a Apartment property. 1516 Lancaster Street is currently listed for $2,000,000 and was received on April 21, 2025. Want to learn more about 1516 Lancaster 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.

