645 N PACA ST Baltimore, MD 21201
1,900 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Townhouse
Sub Type Interior Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 1,900 sqft
Price per Sqft $223
Subdivision Seton Hill
MLS Listing ID MDBA2184470
Style Converted Dwelling
Abv Grd Liv Area 1,900
Year Built 1920
Annual Tax Amount $4,592
Tax Year 2024
Lot Size 1,280 Sqft
Acres 0.03
Lot Dimensions 16'4\" x 80'
Property Sub-Type Interior Row/Townhouse
Source BRIGHT
Property Description
Located in the heart of Seton Hill, this property offers residents a lifestyle defined by walkability, historic charm, and community engagement. The neighborhood is home to Saint Mary's Park, just across the street, and is known for its tree-lined streets, pocket parks, and engaged neighborhood association. The Seton Hill Association hosts regular events like yoga in the park, community garden gatherings, and monthly clean-ups, and is leading a new Neighborhood Master Plan to guide future investment. Learn more at the Seton Hill Community Association website.
The location offers unmatched access to major institutions. It's a 15-minute walk to the University of Maryland Medical Center, which provides no on-campus housing, and 10 minutes to the Peabody Institute, ensuring reliable rental demand from students, staff, and professionals. A 95 Walk Score and 100 Transit Score make daily life convenient and keep units consistently filled.
Each of the three one-bedroom apartments offers a functional layout with individual gas and electric meters, in-unit laundry, and a mix of hardwood, vinyl plank, carpet, and tile flooring. Kitchens include 30” gas ranges, dishwashers, garbage disposals, and a variety of granite, laminate, or European-style counters and cabinets, with one kitchen recently updated. Unit 1 has access to a private brick patio, while Units 2 and 3 each feature rear wood decks. Two of the three apartments are Limited Lead-Free, reducing landlord risk, paperwork, and turnover costs.
For investors, this property combines location, stability, and upside. Strong rental demand from nearby institutions provides reliable cash flow, while the landlord's current payment of water and public service electric creates a straightforward opportunity to bill back utilities and increase returns. With a prime location in an actively improving neighborhood, this three-unit property offers both immediate income and long-term value growth.
Investment Summary:
$425,000
$141,667 Per Unit
$224 Per Sq. Ft.
11.0 Times Actual Rents (GRM)
9.0 Times Market Rents (GRM)
7.84% Cap Rate
7.2% Projected Cash-on-Cash Return
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Inclusions 3 30" gas ranges, 3 garbage disposals, 3 dishwashers, 3 refrigerators, 2 clothes washers, 2 clothes dryers, 1 stacked washer and dryer
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Roof Type Rubber
Accessibility None
Garage N
Building
Foundation Stone
Above Ground Finished SqFt 1900
Sewer Private Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
Structure Type Dry Wall,Plaster Walls
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0317080547B044
Ownership Ground Rent
SqFt Source 1900
Special Listing Condition Standard
