RECENTLY UPDATED, FULLY LEASED PORTFOLIO The offering consists of two side-by-side brick duplexes totaling four residential units, with all units currently leased. Recent improvements include flooring, paint, bathroom fixtures, and serviced HVAC systems, providing a solid physical foundation for continued operations while limiting the need for significant immediate capital improvements. ATTRACTIVE IN-PLACE CASH FLOW 1051 & 1053 Desoto Road presents an opportunity to acquire a fully leased four-unit multifamily portfolio for $370,000, generating approximately $29,751 of annual NOI. The offering provides investors with an approximately 8.0% in-place capitalization rate, delivering immediate cash flow from a stabilized, fully occupied residential portfolio. STRATEGIC MORRELL PARK LOCATION Situated in Baltimore's Morrell Park neighborhood, the property offers convenient access to major transportation routes, employment centers, and area amenities. The property is approximately five minutes fromI-95/Beltway access and Ascension Saint Agnes Hospital, eight minutes from I-295, 10 minutes from the west Baltimore MARC station, and 12minutes from Downtown Baltimore. The property is also adjacent to the Wilkens Avenue commercial corridor and within a short walk of Morrell Park Elementary. LOW-COMPLEXITY MULTIFAMILY INVESTMENT The four-unit configuration offers an efficient scale of ownership while maintaining the benefits of a diversified multifamily asset. with 100%occupancy, separately metered gas and electric, four assigned parking spaces, and recent servicing of the HVAC systems, the property provides an ownership profile designed to minimize day-to-day operational complexity. The compact portfolio allows an investor to capture multifamily rental income without the management demands typically associated with larger, more operationally intensive assets.
Wilhelm Park, located between Wilkens Avenue and the Gwynns Falls Trail, is a residential and park-adjacent Baltimore neighborhood with brick rowhomes and a greenbelt edge. The neighborhood’s character concentrates around the Wilkens Avenue corridor near the trail crossings, where corner carryouts, auto shops, and small storefronts set a practical, lived-in rhythm. The Gwynns Falls Trail and Leakin Park frame daily routines with long, wooded sightlines and streamside paths. Housing reads as classic Baltimore: tight blocks, front stoops, and modest porches. Nearby, the B&O Railroad Museum, The Charmery, and Union Craft Brewing serve as recognizable city pillars for outings beyond the immediate blocks.
Provided by Walk Score and Local Logic
Offer insights
$370,000
$378K and above
75% chance or better to win
Why $378K+ is a strong offer
SALE-TO-LIST
101.8%
Most homes are selling 2% above list price.
LIST PRICE
$370,000
Median list price in this area is $213,123. (42% lower than this home)
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Other basement
Bedrooms
4 bedrooms on the main level
Bathrooms
4 full bathrooms, all on the main level
Heating & cooling
Radiator heating
Other cooling
Exterior features
Porch
Home design
Interior townhouse/rowhouse
Parking
On-street parking
Construction
Brick construction
Wood foundation
Utilities
Public water
Public sewer
Electricity and solar
View estimated energy costs and solar savings for this home
REAL ESTATE AUCTION ON SITE THURSDAY, JUNE 13, 2019 AT 11:00 AM. List price is suggested opening bid only. $5,000 cashier's check deposit required to bid. 2 unit home - 1st floor is rented for $800/month. 2nd floor is vacant. Also being auctioned - 1053 Desoto Rd. Please contact listing broker's office for full terms, bidder pre-registration form and property details.
Neighborhoods: The R-6 Garden Rowhouse Residential Zoning District is intended for primarily low density rowhouse neighborhoods that reflect a naturalistic environment typified by open and landscaped front yards of buildings that are set back and that contain stoops and porches oriented to those yards.; Housing types: The R-6 District is meant to accommodate single-family units in both detached and semidetached dwellings, rowhouse developments, and multi-family developments of a moderate density.
Permitted uses
Include but are not limited to:
Religious facility
Garden center
Housing-Single unit
Housing-Multiple units
Housing-Senior
Educational / school
Park & open space
Feb 1, 2025 • Final
One and two family combo
Install roof mounted solar panels on a single-family home. All work must comply with approved plans and building codes.
Electrical
Solar
Feb 1, 2025 • Final
One and two family combo
Demolish the existing exterior deck and stairs and replace them with a new pressure-treated deck and staircase. The new deck will be anchored and all work will be completed according to building codes and submitted drawings.
Remodel
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
8/10 Heat Factor
7 days above 103° expected this year, 16 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Baltimore, MD • 21223
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Redfin Estimate
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $22,500 and $269,000.
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