Property Details
Welcome to 1801 Madison Avenue, a renovated six-unit multifamily property in Baltimore offering immediate rental income, additional lease-up potential, and a prime location adjacent to Bolton Hill. Positioned within one of the city’s established residential neighborhoods, this income-producing apartment building presents a compelling opportunity for investors seeking a turnkey Baltimore rental property with current cash flow and long-term upside. The building includes six residential apartments, consisting of five one-bedroom units and one spacious three-bedroom residence. Each apartment is separately metered for gas and electricity, helping reduce owner-paid utility expenses and support efficient operations. Multiple units are currently occupied, while two vacant one-bedroom apartments provide an immediate opportunity to increase gross rental income through lease-up or strategic repositioning. The current rent roll reports $5,775 in monthly rent at 67% occupancy, creating meaningful potential as the remaining residences are leased. By leasing up the 2 vacant 1-bedroom units at the current average market rate of $1,440 per unit, you can unlock a stabilized gross potential rent of $8,655 monthly ($103,850 annually), representing a roughly 50% increase in top-line revenue.
Extensively improved over time, 1801 Madison Avenue has benefited from substantial capital upgrades to the building systems, utilities, plumbing, electrical service, and common infrastructure. The apartments offer generous layouts, abundant natural light from multiple exposures, gleaming pine floors, and thoughtful updates designed to support continued tenant demand. The property is ideally located near Maryland Institute College of Art (MICA) and within convenient reach of the University of Maryland Medical Center, Johns Hopkins, downtown Baltimore, and major employment centers. This central location appeals to a broad renter pool, including students, healthcare professionals, university employees, and workforce tenants. Residents also benefit from nearby public transportation, MARC and Light Rail service, I-95, I-695, grocery stores, restaurants, neighborhood retail, and everyday conveniences. Whether adding to an existing Baltimore multifamily portfolio, completing a 1031 exchange, or acquiring a stabilized apartment building with additional revenue potential, 1801 Madison Avenue offers a strong combination of location, current income, operational efficiency, and future growth in the Baltimore rental market.
