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305 W Madison Street

Baltimore, MD 21201

– beds
– baths
– sqft
1952 build

Property Overview The property at 305 W Madison St, Baltimore, MD 21201 is a five-unit multifamily building with a mix of studio and one-bedroom units. Some of the units have already been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors. Value-Add Potential The property offers substantial value-add potential for investors, with the opportunity to increase rents by 59%, or approximately $200 per unit. This creates a clear path to significantly enhance cash flow and maximize returns. With a handful of units already renovated investors can implement additional improvements to the remaining units to further boost rental income and overall property value. Additionally, the onsite laundry offers further income-generating potential. Location and Area Benefits Located in the heart of Baltimore, the property is close to major institutions such as Johns Hopkins University and the University of Maryland Medical Center, offering proximity to key employment centers. Nearby universities like the University of Baltimore and Maryland Institute College of Art (MICA) also enhance the area's appeal. The property benefits from easy access to major highways such as I-83 and I-95, and is close to the State Center subway station, ensuring excellent transportation options. Additionally, being near an Opportunity Zone provides potential tax incentives for investors.

Listing courtesy of BRIGHT / Midfield Realty

Last checked: Checking… • Last updated Dec 12, 2024 •

MLS# MDBA2141324 —

The Building

Year Built:

1952
Year Built Source:

Estimated
Year Major Reno/Remodel:

2021
Roof:

Flat
New Construction:

No
Construction Materials:

Other
Building Units Total:

1
Structure Type:

Other
Architectural Style:

Unit/Flat
Door Features:

Double Entry
Accessibility Features:

None
Basement:

No
Total SqFt Source:

Assessor
Total Below Grade SqFt Source:

Assessor

Interior

Fireplace:

No
Living Area SqFt Source:

Assessor

Room Dimensions

Living Area SqFt:

0 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Cash, Conventional, Exchange, Farm Credit Service, FHA, FHVA, FNMA, State GI Loan, USDA, VA, Variable, VHDA
Possession:

0-30 Days CD

Location

Directions:

Please use GPS
Latitude:

39.29823000
Longitude:

-76.62048000

The Property

Property Type:

Multi-Family
Property Subtype:

Other
Zoning:

C-1
In City Limits:

Yes
Other Structures:

Above Grade, Below Grade
Water View:

No
Waterfront:

No
Water Oriented:

No
Water Access:

No
Navigable Water:

No
Tidal Water:

No
Land Use Code:

C
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

0311100521 036
Tax Year:

2025
Tax Lot:

036
Tax Annual Amount:

$5,906.30
Tax Assessed Value:

$250,267
City/Town Tax:

5626.00
Total Taxes Payment Frequency:

Annually

Heating & Cooling

Cooling Type:

Window Unit(s)
Central Air:

No
Cooling Fuel:

Other
Heating:

Yes
Heating Type:

Radiator
Heating Fuel:

Other

Utilities

Sewer/Septic:

Other
Hot Water:

Other
Water Source:

Other

Schools

School District Name:

Baltimore City Public Schools
School District Source:

Listing Agent

The Community

Subdivision Name:

Mount Vernon
Pool:

No Pool

Parking

Garage:

No
Type of Parking:

On Street

Extra Units

Vacation Rental:

No
Single Room Units:

3
One Bedroom Units:

3

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Xfinity

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price
11/19/24 Nov 19, 2024	Sold Subject To Contingencies	BRIGHT	$400,000
10/14/24 Oct 14, 2024	Listed / Active	BRIGHT	$400,000
10/7/24 Oct 7, 2024	Sold Subject To Contingencies	BRIGHT	$400,000

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This multifamily located in Central Baltimore, Baltimore, MD 21201 is currently for sale for $400,000. 305 W Madison Street is a – square foot multifamily with – beds and – baths. 305 W Madison Street is in the Central Baltimore neighborhood of Baltimore and has a WalkScore® of 98, making it a walker’s paradise. This multifamily is in the attendance area of Samuel Coleridge-Taylor Elementary School, Benjamin Franklin High School At Masonville Cove, Reginald F. Lewis High School, Forest Park High School, Stadium School, Paul Laurence Dunbar High School, Augusta Fells Savage Institute Of Visual Arts, Frederick Douglass High School, Booker T. Washington Middle School, and Vivien T. Thomas Medical Arts Academy.

Listing Courtesy of: BRIGHT and Midfield Realty.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.