2704 North Calvert Street Baltimore, MD 21218

Fully Leased: All four apartments are occupied, providing rental income from day one while a buyer plans future rent increases and improvements.● Multiple Paths to Increased Income: Below-market rents, one parking space and potential tenant utility reimbursements provide several ways to increase income without completing a full renovation at once.● Long-Term Renovation Potential: Apartments can be renovated to the studs in phases, with individual mechanical systems and upgraded finishes supporting higher rents and long-term demand from the surrounding Johns Hopkins community.2704 North Calvert Street offers four fully leased one-bedroom apartments in varying condition, providing existing income with improvements that can be completed over time. Two apartments have updated kitchens with Shaker-style wood cabinets and newer laminate countertops. The remaining kitchens have a mix of wood and metal cabinetry. Kitchens include 20-inch or 30-inch gas ranges and stainless-steel or porcelain sinks.Bathrooms have wall-mounted sinks or modern vanities, steel or cast-iron tubs, and ceramic tile or fiberglass surrounds. Apartments retain primarily plaster walls and ceilings with a mix of hardwood and vinyl flooring.The building has a central gas-fired boiler with steam radiator heat and a central 40-gallon gas-fired Rheem water heater installed in 2021. There are four electric meters and five gas meters. Tenants pay their in-unit gas and electric. The landlord pays for heat, hot water and water/sewer, creating an opportunity to implement utility bill-backs. A rear wood fire escape is shared with 2702 North Calvert Street.Owner-Occupant Financing Example: If Apartment 1 is made available for purchaser occupancy, a 3.5% down payment and $414,950 loan at 6.50% for 30 years produces an estimated monthly principal, interest, taxes, insurance and mortgage insurance payment of $3,600. Projected rents from the remaining three apartments and parking total $3,425 per month, leaving an estimated monthly housing cost of approximately $175 before utilities, repairs and maintenance. The property also passes the FHA self-sufficiency test.Located in Charles Village near Johns Hopkins University, neighborhood shopping, dining and public transportation, the property offers existing income and multiple paths to long-term value creation through market rent alignment, utility bill-backs and phased renovations.