702 Homestead St - Apartments FOR SALE


Baltimore, MD 21218- Better Waverly
$435,000 USD
410-235-9500
702 Homestead St, Baltimore, MD for Sale
$435,000 USD
Apartments - FOR SALE
1/37
null | 8.63% Cap Rate

702 Homestead St
Baltimore, MD 21218
Better Waverly


HIGHLIGHTS

  • 3 Units Rented in a Rapidly Improving Neighborhood — Capture cash flow now and lease the final unit in a high-demand pocket of Better Waverly.
  • Below-Market Rents Offer Organic Upside — Gradual rent increases can improve returns without major capital investment.
  • Strong Physical Conditions — 2020 roof, replacement wood windows and updated plumbing minimize repair expenses.
  • Walkable Location Near Daily Essentials — Tenants enjoy access to Giant, Ace Hardware, the YMCA, and a year-round farmers market.

OVERVIEW

Better Waverly Rental Interiors: 702 Homestead Street features four two-bedroom apartments. Kitchens include laminate countertops, wood cabinets, 30” gas ranges, dishwashers, and stainless steel sinks—some with garbage disposals. Bathrooms are equipped with modern vanities, steel tubs, and ceramic tile tub surrounds. Flooring includes carpet in living areas and ceramic tile in kitchens and baths. Each apartment is outfitted with its own washer and dryer hookups and tenants can provide their own in-unit laundry. Utilities: With a 2020 asphalt shingle roof and fully separated utilities, this Better Waverly rental property for sale is built for efficient management. Each apartment is individually metered for gas and electric (4 gas meters, 5 electric meters) and served by its own gas furnace with central air and electric water heater. Supply and drain lines are a mix of C-PVC and PVC. While the landlord currently pays for water and sewer, a new owner could implement a utility reimbursement structure to recapture those costs and enhance returns. What’s Special About Better Waverly: This Better Waverly rental property sits in a neighborhood where 51% of residents are homeowners—a factor that contributes to well-maintained homes, cleaner blocks, and stronger community stability. Located just 0.2 miles—or within a 4-minute walk—of Giant, Ace Hardware, the YMCA, and the Enoch Pratt Library, tenants benefit from highly walkable access to essential amenities. The 32nd Street Farmers Market operates year-round just a few blocks away, and the Johns Hopkins University Homewood Campus is less than a mile away. Active renovation projects throughout the surrounding blocks signal ongoing investment and continued neighborhood growth.

FOR SALE DETAILS

PRICE

$435,000 USD

PRICE/SF

$227 USD /SF

# OF UNITS

4

PRICE/UNIT

$108,750

CAP RATE

8.63%

% LEASED

75%

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

0.09 AC

LAND SF

3,920 SF

ZONING

R7

APN/PARCEL ID

4079-002

ASK ABOUT THIS PROPERTY

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

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

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

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