2121 Saint Paul Street offers a unique opportunity to acquire a turnkey historic 3-unit building with large 2 bed 1 bath apartments, and 2 parking spots in the rear. The building was renovated in 2016 with new kitchens, bathrooms, flooring, paint, the addition of washer dryers, Central AC, and more. The high demand for affordable housing in the area along with its fantastic proximity to local transit and local universities such as Johns Hopkins and Maryland College for the Arts (MICA) just down the street make this a popular rental for young professionals and students. It currently generates $4,200+ a month and the property has been stable and quiet with many tenants staying multiple years. The property is positioned for long term appreciation given the location, unit sizes, and the trajectory of the neighborhood. Very recent updates include new water heaters, new HVAC in unit 1, newer windows in unit 1 and 2, rear painting of the exterior, etc. There exists an opportunity to add value to the building by adding a bathroom to each unit, or digging the basement out and put in a 4th unit if allowable by Baltimore City code. With its convenient location to school and work, you will not struggle to find tenants in the future. The property sits less than 1 mile to MICA art school, Johns Hopkins, Penn Station, I-83, a grocery store, the University of Maryland Baltimore City and downtown Baltimore. Don't miss it!
