2304 Tioga Pkwy Baltimore, MD 21215
Multifamily | 5 Units | $94,000/unit
Marketing description
The property averages $1,115 per unit, well below the $1,340 market, creating clear rent upside. NOI is projected to grow from $46,418 in Year 1 to $50,756 by Year 7, with cap rates improving from 7.74% to 8.46%, supporting a strong value-add opportunity.
This four-story, five-unit apartment building spans ~3,000 SF on a 7,842 SF R-6 lot (built 1920). Units feature large bedrooms, hardwood floors, granite countertops, shaker cabinets, private baths, and HVAC. Walk Score 79 and Transit Score 72 support consistent demand.
Located in Northwest Baltimore’s Liberty Square/Mondawmin area, the property is near major employers including Sinai Hospital (~2.5 miles), University of Maryland Medical Center (~4.5 miles), and Johns Hopkins (~5.5 miles), along with Coppin State (~0.8 miles) and other universities. It sits steps from Mondawmin Mall, Druid Hill Park, and the Metro, with strong access to bus routes and I-83.
Investment highlights
Current average rent of $1,115/unit vs. projected market rent of $1,340/unit, offering immediate growth potential.
Net Operating Income rises from $46.4K (Year 1) to $50.8K (Year 7), with cap rate increasing from 7.74% to 8.46%.
Four-story building with five 1-bedroom units, large bedrooms, hardwood floorings, granite countertops, white shaker style cabinet, private baths, and AC/heating.
Northwest Baltimore (Liberty Square/Mondawmin) near major hospitals, universities, retail corridors, and Druid Hill Park.
High Walk Score® (79) and Transit Score® (72), with nearby Metro, bus routes, and I-83 access.
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