2001 Eastern Ave - Apartments FOR SALE


Baltimore, MD 21231- Fells Point
$500,000 USD
410-977-4711
2001 Eastern Ave, Baltimore, MD for Sale
$500,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

2001 Eastern Ave
Baltimore, MD 21231
Fells Point


HIGHLIGHTS

  • Opportunity to Acquire a Renovated Asset in Southeast Baltimore
  • Additional Value-Add Potential Exists to Further Increase Revenue
  • Conveniently Located Between Fells Point and Canton

OVERVIEW

*LIST PRICE IS OPENING BID - ONLINE AUCTION* Harbor Stone Advisors is pleased to present the opportunity to acquire 2001 Eastern Ave., a renovated asset located in Southeast Baltimore City. The property is conveniently located between the Fells Point and Canton neighborhoods, and is just steps away from numerous shops, bars, and restaurants. 2001 Eastern Ave. features (4) 2 Br-1 Ba units and (1) commercial space. The commercial space is leased to Mid-Atlantic Spinal Rehab and Chiropractic through July 2027. Prior ownership completed a renovation of the building in 2020 which included apartment renovations. Typical unit features consist of black/stainless steel appliances, granite countertops, wood cabinets, hardwood flooring, and in-unit washer/dryers. The opportunity exists for a new owner to organically increase rents as they are currently under market. Comparable properties in the area are achieving rents $300 higher on average. GUIDED TOUR, THURSDAY, OCTOBER 30TH STARTING AT 11AM Alex Cooper and Harbor Stone Advisors are pleased to present the opportunity to acquire 2001-2003 Eastern Ave., a renovated asset located in Southeast Baltimore City. The property is conveniently located in the Fells Point neighborhood, just steps away from numerous shops, bars and restaurants. Property features (4) 2 Bedroom 1 Bath units and (1) commercial space. The commercial space is leased through July 2027. Prior ownership completed a renovation of the building in 2020. Typical unit features consist of: • Black/stainless steel appliances w/microwave • Granite counter-tops • Hardwood flooring • Dishwasher & in-unit washer/dryers The opportunity exists for a new owner to organically increase rents as they are currently under market. Units are separately metered for gas and electric. Landlord pays hot water but is reimbursed by tenant for water/sewer expense. 2001 Eastern is surrounded by the city’s most affluent and well-educated residents. Over half of all households rent within a mile of the property, yielding roughly $120,000 in household income. These elevated incomes are more than double the average across the city. Unit 1 - Mid-Atlantic Spinal Rehab & Chiropractic 1,500/Sq. Ft. $2,948.79/month Unit A - Residential 690/Sq. Ft. $1,911.68 plus $35/month utilities Unit B - Residential 690/Sq. Ft. $1,646.97 plus $35/month utilities Unit C - Residential 690/Sq. Ft. $1,650.00 plus $35/month utilities Unit D - Residential 690/Sq. Ft. $1,746.88 plus $35/month utilities Current Scheduled Montly Rent $9,904.32 + $140 in Utilities Current Scheduled Annual Rent $118,851.84 + $1,680 in Utilities Diligence Package: A copy of the rent roll, lead certificate, MFD Licenses and purchase and sale agreement with assorted addenda are located in the documents section. In order to gain access, you must create a free account as well as accept a non-disclosure agreement. Auction Notes: Online Auction Only! Bidding begins Thursday, October 30th and ends Tuesday, November 4, 2025 at 12:00 PM. Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details. If a lot receives a bid within the last 3 minutes. it will remain open for an additional 3 minutes. If any further bidding occurs, the extension timer will reset to 3 minutes. If no further bidding activity occurs, the lot closes when the timer runs out.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

4

PRICE/UNIT

$125,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2001-2003 Eastern Ave. Baltimore, MD 21231

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

C-1

APN/PARCEL ID

1783-001

ASK ABOUT THIS PROPERTY

Matt CooperAlex Cooper Auctioneers, Inc.More Info
410-977-4711

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

Matt CooperAlex Cooper Auctioneers, Inc.More Info
410-977-4711

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