Four Buildings | 18 Apartments | Johns Hopkins Rental Corridor
This offering presents a rare opportunity to acquire four multifamily buildings spanning two consecutive blocks of Saint Paul Street in Baltimore’s Charles Village neighborhood, just blocks from Johns Hopkins University’s Homewood Campus.
The portfolio includes 18 apartments comprised of one rooming unit, four studios, ten one-bedroom units, and three two-bedroom apartments. The buildings are located within 470 walking steps of one another, creating management density and operational efficiency within one of Baltimore’s most consistent rental corridors.
The properties benefit from exceptional walkability and connectivity. A Johns Hopkins shuttle stop one block west provides direct access to both the Homewood and Hospital campuses, while the Charles Village Shopping District — four blocks away — offers national retailers including Starbucks, Chipotle, Barnes & Noble, and a grocery store.
Comparable apartments in the immediate area are achieving rents between $950 and $1,150 per month. Bringing current rents to market levels projects a 10.33% cap rate and approximately 15.5% cash-on-cash return.
Offered at approximately $94,444 per unit, the portfolio provides an attractive entry basis relative to renovated student housing assets in the corridor, which commonly trade at significantly higher per-unit pricing.
Opportunities to acquire multiple buildings in such close proximity to Johns Hopkins University are limited.