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797 Carroll St 6 Unit Apartment Building £467,287 (£77,881/Unit) 7.26% Net Initial Yield Baltimore, MD 21230
INVESTMENT HIGHLIGHTS
- Renovated, Mixed-Use Investment Opportunity in Pigtown
- Excellent Location in Pigtown; 10 Minute Walk Away from University of Maryland, Baltimore and UMMC
- Ability to Organically Increase Rents
EXECUTIVE SUMMARY
Harbor Stone Advisors is pleased to offer the opportunity to acquire 797 Carroll St., a renovated mixed-use property located in Baltimore City's culturally rich Pigtown neighborhood. This vibrant area boasts numerous award-winning restaurants and unique shops. The property's prime location is also within a half-mile of major institutions and attractions, including the University of Maryland, Baltimore, University of Maryland Medical Center (UMMC), Camden Yards, and M&T Bank Stadium.
797 Carroll St. features 6 units with a mix of (2) Efficiencies and (3) 1 Br-1 Ba, as well as (1) commercial space. The commercial space is leased to a hair salon through December 2035. Current ownership completed a comprehensive renovation of the property between 2019 and 2024, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include white/stainless steel appliances, granite/quartz/hard surface countertops, wood cabinets, and LVT/carpet flooring. Beyond the units, the current owner also replaced the sewage line, rebuilt the central staircase, and partially replaced the roof. Opportunities exist for a new owner to increase rents organically through unit turnover or lease renewals. Minor updates, such as adding stainless steel appliances to some units, could further enhance rental income potential.
797 Carroll St. features 6 units with a mix of (2) Efficiencies and (3) 1 Br-1 Ba, as well as (1) commercial space. The commercial space is leased to a hair salon through December 2035. Current ownership completed a comprehensive renovation of the property between 2019 and 2024, leaving minimal deferred maintenance for a new owner. Typical apartment unit features include white/stainless steel appliances, granite/quartz/hard surface countertops, wood cabinets, and LVT/carpet flooring. Beyond the units, the current owner also replaced the sewage line, rebuilt the central staircase, and partially replaced the roof. Opportunities exist for a new owner to increase rents organically through unit turnover or lease renewals. Minor updates, such as adding stainless steel appliances to some units, could further enhance rental income potential.
PROPERTY FACTS
| Price | £467,287 | Costar Property Class | C |
| Price Per Unit | £77,881 | Total Plot Size | 0.03 ac |
| Sale Type | Investment | Property Size | 2,880 sq ft |
| Yield | 7.26% | No. Floors | 3 |
| No. Units | 6 | Year Built/Renovated | 1900/2024 |
| Property Type | Build-to-Rent | Cross Streets | Scott |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Use Class | R-8 | ||
| Price | £467,287 |
| Price Per Unit | £77,881 |
| Sale Type | Investment |
| Yield | 7.26% |
| No. Units | 6 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.03 ac |
| Property Size | 2,880 sq ft |
| No. Floors | 3 |
| Year Built/Renovated | 1900/2024 |
| Cross Streets | Scott |
| Opportunity Zone |
Yes |
| Use Class | R-8 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Wheelchair Accessible (Rooms)
1 1
Walk Score®
Excellent pedestrian access (95)
Transit Score®
Rider's Paradise (92)
Bike Score®
Good for cycling (83)
CONTACTS
-
Justin Verner -
Brooks Healy -
Tom Wohlgemuth -
Kevin Landolphi -
Harbor Stone Advisors
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797 Carroll St
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