1112 N Eden St., Baltimore, MD 21213
Renovated 6-Unit Multifamily Property near Johns Hopkins Hospital
Marketing description
Financial Highlights
1112 N Eden St currently generates $45,927 in gross rental income (T-12), reflecting its existing performance with one vacant unit. Under stabilized conditions, pro forma gross income is projected to reach $85,986 in Year 1, supported by full occupancy and market rents. Based on our underwriting, the property is expected to achieve a 11.43% pro forma cap rate, offering strong in-place cash flow with clear upside potential through continued stabilization and rent growth.
Property Highlights
Fully renovated in 2021-2022, 1112 N Eden St features six turnkey units—three one-bedrooms and three studios—combining historic charm with modern finishes. Each unit includes updated kitchens with appliances, newer HVAC systems (under 5 years), and individual gas and electric meters. Tenants pay their own utilities, ensuring efficient operations and reduced owner expenses.
Location Highlights
Located in Baltimore’s revitalizing Oliver/Gay Street corridor, 1112 N Eden St offers excellent access to downtown employment, education, and transit. Major nearby employers include Johns Hopkins University and the University of Maryland Medical System. Residents benefit from proximity to top schools, multiple bus and metro routes, and attractions like Patterson Park, the Inner Harbor, and the National Aquarium
Investment highlights
Strong Current Cash Flow: Generates $45,927–$48,204 annually, supported by a solid T-12 performance and efficient operations.
Upside Potential: With stabilization, projected income reaches $81,882 in Year 1 and $92,159 by Year 5, delivering a 11.43%–12.86% cap rate.
Attractive Returns: Clear path from steady income to long-term growth through rent increases and full lease-up.
Fully Renovated: Updated in 2021–2022, blending historic charm with modern finishes, cabinets, and appliances.
Rental-Ready Units: Six units with separate gas and electric meters for tenant-paid utilities.
Modern Infrastructure: Features central HVAC and appliances under five years old.
Prime Urban Location: Situated north of downtown Baltimore in a high-demand area near Johns Hopkins Hospital, UMMC, and major employers.
Excellent Connectivity: Access to bus routes 120, 54, 56, CityLink LIME & RED, a 10-minute walk to Shot Tower Metro, and 3 minutes to Cultural Center Light Rail.
Education Access: Close to Baltimore Polytechnic Institute, Paul Laurence Dunbar High, and other city schools.
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