1918 McCulloh St - Apartments FOR SALE


Baltimore, MD 21217- Madison Park
$330,000 USD
410-235-9500
1918 McCulloh St, Baltimore, MD for Sale
$330,000 USD
Apartments - FOR SALE
1/23
null | 9.13% Cap Rate

1918 McCulloh St
Baltimore, MD 21217
Madison Park


HIGHLIGHTS

  • 9.13% Projected Cap Rate: Creates a clear path to increased income through future rent growth.
  • In-Unit Laundry in Every Apartment: Stacked washers and dryers add convenience for residents and help the property compete for quality tenants.
  • Separately Controlled HVAC & Utilities: Each apartment has its own heat pump, central air conditioning, electric water heater, and electric meter.

OVERVIEW

1918 McCulloh Street presents an opportunity to acquire a stabilized three-unit apartment building in Baltimore's Druid Heights neighborhood. The property consists entirely of two-bedroom apartments and combines individually metered utilities, in-unit laundry, and separately controlled HVAC systems. Current rents remain below market, providing investors with a clear opportunity to increase income over time through natural tenant turnover rather than extensive capital improvements. The building is configured for straightforward management. Each apartment has its own electric heat pump with central air conditioning, electric water heater, and electric meter. Tenants pay their own electric service, while the landlord is responsible for common area electric, water, and sewer. Apartment interiors feature durable finishes including wood cabinetry, laminate countertops, modern bathrooms, and stacked washers and dryers in every apartment. These finishes have held up well over time, allowing a new owner to focus on operations rather than immediate apartment renovations. Located in Druid Heights, 1918 McCulloh Street benefits from decades of neighborhood reinvestment led by the Druid Heights Community Development Corporation. Approximately 72% of occupied housing units in the neighborhood are renter-occupied, supporting long-term demand for rental housing. For investors seeking a smaller multifamily asset with operational simplicity, rental upside, and durable building systems, 1918 McCulloh Street offers an attractive combination of current cash flow and future income growth as rents move toward market levels.

FOR SALE DETAILS

PRICE

$330,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

3

PRICE/UNIT

$110,000

CAP RATE

9.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,161 SF

ZONING

R-8

APN/PARCEL ID

0322-010

ASK ABOUT THIS PROPERTY

Tom FairBen Frederick Realty, Inc.More Info
410-235-9500

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Tom FairBen Frederick Realty, Inc.More Info
410-235-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.