400-402 Pitman Pl - Apartments FOR SALE


Baltimore, MD 21202
$430,000 USD
443-414-3338
400-402 Pitman Pl, Baltimore, MD for Sale
$430,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

400-402 Pitman Pl
Baltimore, MD 21202


OVERVIEW

*INVESTOR ALERT* Zoned for 6 dwelling units, this gutted and framed two-story End-of-Group offers numerous finishing options with significant upside equity for development in the Station North Arts District! The existing structure allows for 4 dwelling units: two 1 Bed / 1 Bath units on the first floor, two 2 Bed / 1 Bath units on the second floor. Two additional 2 Bed / 1 Bath units possible with 3rd floor 27x65 addition. The original zoning plan allowed for a mix of two ground-floor commercial units boasting 92’ of road frontage and four upper-level dwelling units with a total proposed enclosed space of 4600+ SQFT. Potential gross rental income as a 6-unit of $140,000. Ready for MEPs with an estimated 4-5 month timeline to completion as a 4-unit and 7-8 months as a 6-unit. Building permit, stamped drawings, site plans, residential change, and appraisal with a $1,240,000 completed valuation available upon request

FOR SALE DETAILS

PRICE

$430,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

6

PRICE/UNIT

$71,667

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zoned for 6 dwelling units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,656 SF

ZONING

R-8

APN/PARCEL ID

12-10-1111-063,12-10-1111-064

ASK ABOUT THIS PROPERTY

Ron HowardRon Howard Associates RE/MAX AdvantageMore Info
443-414-3338

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

Ron HowardRon Howard Associates RE/MAX AdvantageMore Info
443-414-3338

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