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Listed by Lynette Jones • EXP Realty, LLC
$ 865,000
Est. payment /mo
Pending
3901 GROVELAND AVE Baltimore, MD 21215
0.5 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID MDBA2207684
Year Built 1969
Annual Tax Amount $14,974
Tax Year 2025
Lot Size 0.499 Acres
Acres 0.5
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Welcome to 3901 Groveland Ave — one of Baltimore's most compelling multifamily investment opportunities of the year. This solid brick 10-unit apartment building in the sought-after West Arlington neighborhood is already cash-flowing at 90% occupancy, bringing in $8,355/month with a 4.95% cap rate on day one. But the real story is the upside.
With in-place rents averaging just $928/unit against a market rate of $1,478/month, you're sitting on $66,000+ in untapped annual income — just waiting to be unlocked. Most leases are at-will, meaning you can start moving rents to market immediately. Renovate and stabilize all 10 units, and your pro forma NOI jumps to $97,000–$137,000+. Then convert the 11th unit on the lower level, and you've created even more value from day one.
Every unit is a generous 2BR/1BA with a living room, dining room, kitchen, and hardwood-style floors. On-site laundry, off-street parking, and professional management are already in place. This is the turnkey value-add deal you've been waiting for.
Serious inquiries only. Call today to schedule your private tour.
With in-place rents averaging just $928/unit against a market rate of $1,478/month, you're sitting on $66,000+ in untapped annual income — just waiting to be unlocked. Most leases are at-will, meaning you can start moving rents to market immediately. Renovate and stabilize all 10 units, and your pro forma NOI jumps to $97,000–$137,000+. Then convert the 11th unit on the lower level, and you've created even more value from day one.
Every unit is a generous 2BR/1BA with a living room, dining room, kitchen, and hardwood-style floors. On-site laundry, off-street parking, and professional management are already in place. This is the turnkey value-add deal you've been waiting for.
Serious inquiries only. Call today to schedule your private tour.
Location
State MD
County Baltimore City
Zoning R-5
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C, Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 5.0
Water Access N
Accessibility None
Total Parking Spaces 5
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0315012700 007A
Ownership Fee Simple
Special Listing Condition Standard
