1200 North Caroline Street
1200 North Caroline Street
Baltimore, MD 21213
$950,000
Price
20
Beds
12
Baths
10,000 Sq. Ft.
$95 / Sq. Ft.
10,000
Sq. Ft.
$95
per Sq. Ft.
Description
Incredible 12-Unit Multi-Family Property! Amazing Value at less than $80,000 per Unit! Combining 1200 & 1202 N Caroline St, this remarkable property combines to create an impressive nearly 10,000 sq. ft. corner building boasting fantastic apartment layouts, robust cash flow, and substantial equity potential. Built in a bygone era, this sturdy property features a majestic entrance, exquisite custom millwork, and soaring ceilings. This expansive building offers serene living spaces for tenants and...Incredible 12-Unit Multi-Family Property! Amazing Value at less than $80,000 per Unit! Combining 1200 & 1202 N Caroline St, this remarkable property combines to create an impressive nearly 10,000 sq. ft. corner building boasting fantastic apartment layouts, robust cash flow, and substantial equity potential. Built in a bygone era, this sturdy property features a majestic entrance, exquisite custom millwork, and soaring ceilings. This expansive building offers serene living spaces for tenants and presents a desirable mix of apartment layouts, including eight two-bedroom units, two one-bedroom units, and two studios. Each unit is separately metered, with tenants responsible for their own gas and electric expenses. A diverse tenant base, comprising both market-rate tenants and Section 8 occupants, maintains stable rents averaging approximately $1,000 per month, resulting in a gross annual rental income of $125,000. The owner has made substantial investments, totaling over $100,000, to stabilize the property, yielding an impressive 8% Cap Rate for prospective buyers. This presents a tremendous opportunity to further enhance cash flow and equity. By increasing rents to a reasonable $120,000 per unit and $1,200 per month, potential equity of up to $500,000 could be generated, along with a likely 10+% cap rate. Situated on a spacious lot measuring 49ft by 159ft, spanning the entire block from Caroline to Spring St, the property enjoys adjacency to Madison Square Park, Recreation Center, and Playground, offering unobstructed city views. Just half a mile from John’s Hopkins Medical Campus, the property is ideally located amidst the vibrant East Baltimore Development, featuring 1.7 million square feet of life sciences research and office space, educational institutions, green areas, grocery stores, and other essential neighborhood amenities. View the uploaded floor plans to envision the building's layout. While interior photos are limited due to occupied units, this is an exceptional investment opportunity to purchase, enhance, and hold for generations. Don’t let this opportunity pass you by – call today for more information!
- Listed by Dimitrios Lynch • ExecuHome RealtyP: 4109602949 myhome@lazarz-lynch.com
Property Details for 1200 North Caroline Street
Tax ID Number
0310011162 044
OwnershipFee Simple
Structure TypeOther
StyleFederal
WaterfrontNo
GarageNo
SubdivisionOLIVER
SubdivisionOLIVER (BALTIMORE CITY MD)
Location
Listing Courtesy of ExecuHome Realty
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LISTING UPDATED: 02/29/2024 06:03 PM
Property Details for 1200 North Caroline Street
| Status | Active |
|---|---|
| MLS # | MDBA2113570 |
| Days on Market | 61 |
| Taxes | $8,186 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fee Simple |
| Year Built | 1900 |
| Lot Size | 0.15 AC / 6,355 SF |
| County | Baltimore |
Location
Listing Courtesy of ExecuHome Realty
Add your commute
Building Information for 1200 North Caroline Street
Stories-Residences1Year Built1900Building Size-Lot Size0.15 AC / 6,355 SF
Payment Calculator
$5,867 per month
30 year fixed, 7.25% Interest
Principal and Interest
$5,185
Property Taxes
$682
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 1200 North Caroline Street
Location
Location
- In City Limits: Yes
- Transportation: Metro/Subway Station less than 1 mile, Bus Stop less than 1 mile
- School District Name: BALTIMORE CITY PUBLIC SCHOOLS
- School District County ID: 121137830454
- SchoolDistrictSource: Listing Agent
- County: BALTIMORE CITY
Waterfront / Water Access
Waterfront / Water Access
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
- Tax Year: 2023
- Tax Assessed Value: $346,867
- Year Assessed: 2023
- County Tax: $388
- Improvement Assessed Value: $245,000
- City Town Tax: $7,798
- Land Assessed Value: $25,000
- Clean Green Assessed: No
- Land Use Code: M
- Section: 01
- Zoning: R-8
- Tax Lot: 044
- School Tax: $0
- Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
- Owner Pays: Accounting/Legal, Advertising/Licenses and Permits, Common Area Maintenance, Miscellaneous, Taxes - Real Estate, Water, Insurance
Unit Information
Unit Information
- Single Room Units Count: 2
- One Bedroom Units Count: 2
- Two Bedroom Units Count: 8
- Three Bedroom Units Count: 0
- Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 8,Unit 3,Unit 6,Unit 7,Unit 9,Unit 10,Unit 10,Unit 10
- Units Leased Count: 12
- Number Of Units Vacant: 1
Multi Family
Unit 1
- Type: Unit 1
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Finished SQFT: 470
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline - 1FF (1st floor front)
- Total Rooms: 5
Unit 2
- Type: Unit 2
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Finished SQFT: 793
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 1FR (1st Floor Rear)
- Total Rooms: 6
Unit 3
- Type: Unit 3
- Unit Type Occupied YN: Yes
- Level: 2
- Unit Type Finished SQFT: 590
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 2FF (2nd Floor Front)
- Total Rooms: 5
Unit 4
- Type: Unit 4
- Unit Type Occupied YN: No
- Level: 2
- Unit Type Finished SQFT: 226
- Unit Type Lease Type: Yearly
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 2FM (Second Floor Middle)
- Total Rooms: 3
Unit 5
- Type: Unit 5
- Level: 2
- Unit Type Finished SQFT: 226
- Unit Type Lease Type: Yearly
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 2FF (2nd Floor Rear)
- Total Rooms: 3
Unit 6
- Type: Unit 6
- Unit Type Occupied YN: Yes
- Level: 3
- Unit Type Finished SQFT: 590
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 3FF (3rd Floor Front)
- Total Rooms: 5
Unit 7
- Type: Unit 7
- Unit Type Occupied YN: Yes
- Level: 3
- Unit Type Finished SQFT: 532
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 3FR (3rd Floor Rear)
- Total Rooms: 5
Unit 8
- Type: Unit 8
- Unit Type Occupied YN: Yes
- Level: 4
- Unit Type Finished SQFT: 420
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1200 N Caroline 4th Floor
- Total Rooms: 5
Unit 9
- Type: Unit 9
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Lease Type: Yearly
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: 1202 N Caroline 1FF (1st Floor Front)
- Total Rooms: 3
Unit 10
- Type: Unit 10
- Unit Type Occupied YN: Yes
- Level: 1
- Unit Type Finished SQFT: 1106
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1202 N Caroline 1FF (First Floor Front / 2 levels)
- Total Rooms: 5
Unit 11
- Type: Unit 10
- Unit Type Occupied YN: Yes
- Level: 2
- Beds Total: 1
- Full Baths Count: 1
- Unit Type Features: 1202 N Caroline 2F (2nd Floor)
- Total Rooms: 3
Unit 12
- Type: Unit 10
- Unit Type Occupied YN: Yes
- Level: 3
- Unit Type Finished SQFT: 622
- Unit Type Lease Type: Yearly
- Beds Total: 2
- Full Baths Count: 1
- Unit Type Features: 1202 N Caroline 3F (3rd Floor)
- Total Rooms: 6
Financial Information
Expenses
- Operating Expense: $64,481
Financial Information
- Gross Income: $125,474
- Net Operating Income: $76,338
- Annual Rental Income: $125,000
- Income Includes: Apartment Rentals
- Cap Rate: 8.03
- Existing Lease Type: Yearly
Building Info
Building Info
- Building Units Total: 1
- Total Finished SQFT: 10,000.00
- Total Finished SQFT Source: Estimated
- Tax Total Finished SQFT: 6,355.00
- Total SQFT: 10,250.00
- Total SQFT Source: Estimated
- Construction Materials: Brick
- Basement Type: Partial, Unfinished
- Other Structure: Above Grade, Below Grade
Lot / Land Information
Lot / Land Information
- Lot Size Source: Estimated
- Parcel ID: 12945253
- Ground Rent Exists: No
- Ground Rent Payment Frequency: Annually
Parking
Parking
- Type Of Parking: On Street
Interior Features
Interior Features
- Fireplace: No
- Accessibility Features: None
Exterior Features
Exterior Features
- Pool: No Pool
Utilities
Utilities
- Heating: Yes
- Cooling Type: None
- Cooling Fuel: Electric
- Heating Type: Radiator
- Heating Fuel: Natural Gas
- Hot Water: 60+ Gallon Tank
- Water Source: Public
- Sewer Septic: Public Sewer
Confidential Data
Listing Office
- List Agent AOR: Greater Baltimore Board of REALTORS
Property History for 1200 North Caroline Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1200 North Caroline Street
Taxable ValueLand-Additions-Total-
Tax Record2023$8,186 ($682 / month)
Home Facts
Total Finished SqFt6,355 SqFtAbove Grade Finished SqFt6,355 SqFtStories3Lot Size4,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningR-8CountyBALTIMORE CITYAPN10-01-1162 -044
Schools near 1200 North Caroline Street
This home is within Baltimore City Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Dr. Bernard Harris Sr. Elementary School PublicPK to 5 | ||
Booker T. Washington Middle School Public6 to 8 | ||
Stadium School Public6 to 8 | ||
Digital Harbor High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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